Frontier Airlines 2007 Annual Report Download - page 33

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ITEM 2. PROPERTIES
Flight Equipment
As of December 31, 2007, we operated 219 aircraft as described in the following table:
Type
Total
Aircraft
Owned
Leased
Average
Age
(in years)
Firm
Orders
Option
Aircraft
Seats in
Standard
Configuration
ERJ-135LR (1) 17 15 2 4.5 37
ERJ-140LR 15 11 4 5.8 44
ERJ-145LR (2) 62 27 35 5.8 50
ERJ-170/175LR 101 78 23 2.2 29 74 70-86
CRJ-200 24 24 6.6 50
Total 219 131 88 29 74
(1) Two of these aircraft are used for charter service and as spares.
(2) One of these aircraft is used for charter service or as a spare.
In addition to the aircraft listed above, we subleased six ERJ-145 aircraft to an airline in Mexico.
We have firm orders to acquire 29 ERJ-175 aircraft.
All of our leased aircraft are leased by us pursuant to operating leases, with current lease expirations ranging from 2009 to
2023. We have fixed-price purchase options under most of these leases after 9 to 14 years of the lease term. Furthermore, we have
options to renew most of the leases for an additional three to four years, or purchase the leased aircraft at the conclusion of their
current lease terms at fair market value.
The following table outlines the number and type of aircraft being operated for each Partner and the total number of aircraft that we
are required to place in service for each Partner as of December 31, 2007:
ERJ-175 ERJ-170 ERJ-145 ERJ-140 ERJ-135 CRJ- 200
In
Operation
Total
Required
Aircraft
In
Operation
Total
Required
Aircraft
In
Operation
(1)
Total
Required
Aircraft
In
Operation
Total
Required
Aircraft
In
Operation
(1)
Total
Required
Aircraft(4)
In
Operation
Total
Required
Aircraft
Total
Required
Aircraft
US
Airways 25 38 23 20 10 10 68
American 15 15 15
Delta (2) 16 16 − 24 24 15 − 40
United (3) 28 38 7 7 45
Continental 20 20 24 24 44
Frontier 9 17 17
Total 25 54 76 75 61 61 15 15 15 − 24 24 229
(1) Excludes two ERJ-135 aircraft and one ERJ-145 aircraft that are not operated for any of our Partners. We use these aircraft for
charter service and spares.
(2) In August 2007, we amended our Jet Services Agreement with Delta to provide for the replacement of sixteen, ERJ-170 aircraft
operating as Delta Connection with sixteen ERJ-175 aircraft. The new aircraft are expected to be placed into service during the
second half of 2008 and the first quarter of 2009.
(3) In August 2007, we amended our Jet Services Agreement with United to provide for the operation of ten additional ERJ-170
aircraft as United Express. The aircraft are expected to be placed into service during the fourth quarter of 2008 and the first quarter of
2009.
(4) Under our amended Delta agreement, we agreed to remove from service all 15 of our ERJ-135 at a rate of two aircraft per month
beginning in September 2008. We expect to sell these aircraft to Embraer or another party as the aircraft are removed from service.
-26-
Source: REPUBLIC AIRWAYS HOLDINGS INC, 10-K, February 21, 2008 Powered by Morningstar® Document Research℠