Frontier Airlines announces final loan repayment after 9-11 attacks
DENVER – Denver-based Frontier Airlines (Nasdaq:FRNT) announced it has become the first airline in America to pay back a $70 million loan from the federal government to cope with losses suffered after the Sept. 11, 2001, terrorist attacks on the nation.
In a ceremony today, Frontier CEO and President Jeff Potter presented the final payment – a check for $11.6 million – to members of Colorado’s congressional delegation.
“This loan helped us to weather the challenges following Sept. 11, 2001 as well as the impacts of a stagnant national economy,” Potter said. “We are happy to be the first airline in America to repay this important loan.”
Following the terrorist attacks, Congress passed the Air Transportation Safety and System Stabilization Act that provided $10 billion in federal loan guarantees and credits for airlines that were impacted by the attacks.
In its 10th year of operations, Frontier Airlines is the second-largest jet service provider at Denver International Airport with a fleet of 39 aircraft and about 3,800 employees.
DENVER – Denver-based Frontier Airlines (Nasdaq:FRNT) announced it has become the first airline in America to pay back a $70 million loan from the federal government to cope with losses suffered after the Sept. 11, 2001, terrorist attacks on the nation.
In a ceremony today, Frontier CEO and President Jeff Potter presented the final payment – a check for $11.6 million – to members of Colorado’s congressional delegation.
“This loan helped us to weather the challenges following Sept. 11, 2001 as well as the impacts of a stagnant national economy,” Potter said. “We are happy to be the first airline in America…
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