Frontier Airlines Extends Guaranteed Availability Agreement With SES

September 17, 2002

SHANNON, Ireland September 17, 2002 Frontier Airlines has signed a three-year extension to its agreement with Shannon Engine Support (SES) for comprehensive, guaranteed availability of CFM56-3 and CFM56-5B engines.

SES is a wholly-owned subsidiary of CFM International (CFM). CFM is a 50/50 joint company between Snecma Moteurs (Safran Group) of France and the General Electric Company and produces the world's best-selling commercial engine product line, the CFM56 family. SES is the industry's leading lessor of CFM56 spare engines.

Frontier has been an SES customer since 1997 when it signed an agreement for CFM56-3 spare engines for the its fleet of 17 Boeing 737-300 aircraft; SES will continue to support this fleet. Under the terms of the extension, SES will now also provide guaranteed availability of CFM56-5B engines to help manage shop visits for five Airbus A318 aircraft that will begin delivery in mid-2003 and 31 A319s either currently in service or on order.

"Frontier is our largest American customer," said Roger Welaratne, SES managing director. "We're obviously very pleased by the continued confidence this airline is showing in our products and services. We hope that this is just another step in what will become a very long relationship."

SES specializes in flexible, cost-effective engine leasing solutions tailored to airlines' specific requirements. Spare engine leasing provide tremendous cost savings to airlines. They avoid the acquisition cost of a spare engine as well of the expense of underused assets. SES also offers short-term engine leases, operating leases, sale leas back, and engine trading.

SES has a portfolio of 130 CFM56 engines, including the CFM56-3 engine for the Boeing 737-300/-400/-500, the CFM56-5A and CFM56-5B for the Airbus Industrie A320 family, the CFM56-5C for the Airbus A340, and the CFM56-7 for the 737-600/700/-800/-900. The company supports 40 customers worldwide, predominantly in Europe and China.

Jamie Jewell

+1 513.885.2282

Charles Soret

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Perry Bradley

+1 513 375 2597

Talal Ahmed Almahmood

+973 173 3819