10 April 2008

Frontier makes it 6 since March 31st

Frontier Airlines that has been on every one's watch list joined the queue by filing for Chapter 11 late Thursday night.

The credit card processor demanded a substantial increase in hold back to protect its own position which has necessitated the filing.

Frontier with over $150million in cash in the bank was not in imminent danger but there were substantial risk issues in front of the Denver based carrier.

There are other airlines who are being watched. This is not over yet. The knock on effect will spread as other airlines feel the impact and as the industry in general takes into consideration oil at $135/pbl for the bench mark aviation grade crude.

So keep counting - here is the list:

Oasis Hong Kong



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