PPRuNe Forums - Frontier Payroll

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deuce27three

9th April 2008 22:12

Frontier Payroll

I've heard from two sources (not at the company) that Frontier did not make payroll at the start of April. Is this bogus?

slyde55

10th April 2008 14:56

bogus rumor

Rumor false, received direct deposit of $7007.39 for second half of March. Also included 401k match of $347.87, and Defined Contribution retirement of $327. Word has it at current $110 oil, we have about 1.5 years before cash runs out...:=

deuce27three

11th April 2008 04:01

Thanks. My apologies.

filejw

11th April 2008 06:40

However they did fill chapter 11 BK tonight...sad

boeingbusbenn

12th April 2008 20:52

In a nutshell, Ch 11 was filed because a credit card company didn't want to continue paying Frontier in the standard fashion, as it has done for years. This would have reduced Frontier's cash on hand by about $100,000,000 in a matter of months. It wasn't because Frontier couldn't pay its bills.

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