Frontier Airlines 2006 Annual Report Download - page 105
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The Company recorded deferred warrant charges on the measurement date based upon an option pricing model that
considered continuous compounding of dividends and dilution using an estimated fair value of the Company’s common stock on the
grant date, an estimated dividend yield, a risk-free interest rate commensurate with the warrant term, volatility of 40% and an expected
life of 10 years. On March 13, 2007, we and Delta amended out code-share agreements. The amendments, if approved, provide for
early removal of all 15 ERJ-135 aircraft between September 2008 and April 2009 at a rate of 2 aircraft per month, and an approximate
3% reduction in the reimbursement rates on the Company's ERJ-145/170 aircraft for the remaining term of the agreements. In return
for these amended terms, Delta has agreed that we will have a negotiated pre-petition claim in the amount of $91 million, and Delta,
will surrender all of its warrants on approximately 3.4 million shares of the Company's common stock.
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Source: REPUBLIC AIRWAYS HOLDINGS INC, 10-K, March 15, 2007 Powered by Morningstar® Document Research℠