Frontier Airlines 2004 Annual Report Download - page 60

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In addition, Chautauqua is a guarantor of future turboprop lease payments of $2,405 (2005) and $518 (2006) (see Note 15).
As of December 31, 2004, the Company
’
s Delta and United code
-
share agreements require that Chautauqua and Republic Airline acquire and place in service an additional twenty
-
eight
regional jets. The current list price of these twenty
-
eight regional jets is $752,200. The Company has a commitment to obtain financing for twenty
-
four of these twenty
-
eight regional jets. The
Company also has a commitment to acquire three spare aircraft engines. The current list price of these engines is $10,671. These commitments are subject to customary closing conditions.
In conjunction with the lease of Saab 340 aircraft to Shuttle America, Chautauqua assigned to Shuttle America, an affiliated company, a certain maintenance agreement. Should Shuttle
America be unable to make payments required by this agreement, the vendor may look to Chautauqua for payment (see Note 15).
The Company's aircraft commitments under the code
-
share agreements and firm orders and options with the aircraft manufacturer are shown below as of December 31, 2004 and as
subsequently amended:
During the year ended December 31, 2004, the Company made aircraft deposits in accordance with the aircraft commitments of $38,800. The aircraft deposits are included in other
assets.
Commitments as of
December 31, 2004
Delta
United
Total
Aircraft Commitments per Code
-
Share Agreements:
ERJ
-170
16
12
28
Commitments as of
December 31, 2004
Firm
Options
Total
Aircraft Orders with Aircraft Manufacturer:
ERJ
-145
34
34
ERJ
-170
28
61
89
Total
28
95
123
50