Frontier Airlines 2005 Annual Report Download - page 97

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Future minimum payments under noncancellable operating leases are as follows for the years ending December 31:
Regional Jet
Aircraft Other Total
2006 $ 83,177 $ 7,285 $ 90,462
2007 80,071 7,003 87,074
2008 79,899 7,015 86,914
2009 78,634 6,749 85,383
2010 76,643 6,329 82,972
Thereafter 485,139 34,246 519,385
Total $ 883,563 68,627 952,190
As of December 31, 2005, the Company’s Delta and United code-share agreements require that the Company acquire and
place in service an additional seven ERJ-170 regional jets and the Company has firm orders for 11 regional jets. The current list price
of these 11 regional jets is $309,307. The Company has a commitment to obtain financing for all of these 11 regional jets. The
Company also has a commitment to acquire one spare aircraft engine with a current list price of $3,557. These commitments are
subject to customary closing conditions. The Company’s firm orders and options with the aircraft manufacturer are shown below as of
December 31, 2005.
Under the US Airways Aircraft Agreement, we will assume the leases of 15 ERJ-170 aircraft, which will be operated by
Republic Airline. The transfer is expected to be completed by September 2006. In connection with the assumption of the leases of the
additional aircraft, we will assume approximately $350 million in lease obligations. The transfer of all 15 aircraft is expected to be
completed by September 2006.
Commitments as of
December 31, 2005
Firm Options Total
Aircraft Orders with Aircraft Manufacturer:
ERJ-170 11 35 46
During the year ended December 31, 2005, the Company made aircraft deposits in accordance with the aircraft commitments
of $37,206. Aircraft deposits are included in other assets.
-59-
Source: REPUBLIC AIRWAYS HOLDINGS INC, 10-K, February 27, 2006 Powered by Morningstar® Document Research℠