Exhibit 12
Statement of Computation of Ratio of Earnings to Fixed Charges
Frontier Airlines, Inc. Earnings to Fixed Charges
Years Ended March 31 and 9 months ended December 31, 2001 and 2000
(Dollars in 000’s)
Nine Months Nine Months
Ended Ended
December 31, December 31,
1997 1998 1999 2000 2001 2000 2001
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Pre-tax income (loss)from
continuing operations: $ (12,186) $ (17,746) $ 25,086 $ 43,415 $ 88,332 $ 76,527 $ 23,639
Fixed charges:
Interest expensed 20 324 701 119 94 56 2,118
Estimate of interest
within rental expense 8,437 12,179 15,351 21,712 26,900 20,067 21,922
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Total Fixed Charges 8,457 12,503 16,052 21,831 26,994 20,123 24,040
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Earnings (loss) $ (3,729) $ (5,243) $ 41,138 $ 65,246 $ 115,326 $ 96,650 $ 47,679
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Earnings/Fixed Charges Ratio --- --- 2.56 2.99 4.27 4.80 1.98
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Dollar deficiency for ratios
‹1:1 $ 20,643 $ 30,249
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Rental expense $ 25,337 $ 36,574 $ 46,099 $ 65,202 $ 80,782 $ 60,261 $ 65,832
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One-third of rental expense
8,437 $ 12,179 $ 15,351 $ 21,712 $ 26,900 $ 20,067 $ 21,922
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