FOR IMMEDIATE RELEASE
                                                                       Contacts:
                                                                       Joe Hodas
                                                                    720-374-4504
                                                          jhodas@flyfrontier.com

Frontier Airlines To Announce Final Payment on U.S. Government Guaranteed Loan

              $70 Million Loan Helped Frontier Stabilize, Grow and
                         Succeed During Post-9/11 Period

DENVER (Dec. 22, 2003) - Frontier Airlines (NASDQ: FRNT) will announce today that
it has become the first airline in America to repay in full its post-9/11 U.S.
government guaranteed loan.  In a ceremony to be held today at 1:30 p.m. MST at
Frontier headquarters, Frontier CEO and President Jeff Potter will present an
oversized check for $11.6 million to several members of the Colorado Congressional
delegation.  The check represents the current outstanding balance of the $70 million
commercial loan facility made available to Frontier Airlines primarily based on a
loan guaranty from the Air Transportation Stabilization Board (ATSB).

The press conference will be held with Senator Wayne Allard, Congresswoman Diana
DeGette, and Congressman Bob Beauprez.

The press conference will be held Monday, December 22, 2003 at Frontier Headquarters
(7001 Tower Road) beginning at 1:30 p.m. MST.

"The employees and the loyal customers of Frontier Airlines are grateful to the U.S.
taxpayers for this temporary financial assistance," Jeff Potter said.  "This loan
helped us to weather the challenges following September 11, 2001 as well as the
impacts of a stagnant national economy. The loan, along with our employee's
dedication and motivation, has helped Frontier continue its growth and return to
profitability and we are happy to be the first airline in America to repay this
important loan."

Following the terrorist attacks on September 11, 2001, Congress passed the Air
Transportation Safety and System Stabilization Act which, among other things,
provided $10 billion in federal loan guarantees and credits for airlines that
were impacted by the attacks.

Frontier applied for the loan guaranty in June 2002 and received conditional
approval on Nov. 5, 2002.  On Feb. 14, 2003, Frontier closed on and received the
proceeds from the $70 million term loan, of which $63 million was guaranteed by
the Air Transportation Stabilization Board (ATSB), with smaller portions guaranteed
by other parties.  The loan was provided by WestLB, a large European bank, with
additional participation by Wells Fargo Bank, N.A.  Frontier made a required loan
prepayment of $10 million in July 2003 as a result of its receipt of a federal
tax refund and a second loan prepayment of $48.6 million in September 2003 as a
result of the company's common stock offering in September 2003.

"The events of September 11 and its aftershocks had a debilitating effect on the
capital markets," Potter said.   "At the time, we were in the midst of our fleet
transition plan, and access to capital was a critical success factor. Obtaining
approval for this government backed loan helped to ensure that we could continue
our business strategy, bring competitive air travel options to more communities
and preserve competition in the aviation industry."

"This is an important day for Frontier Airlines, for air travel in Colorado and
for the taxpayers of the United States," said Rep. Diana DeGette (D-CO).  "Everyone
at Frontier Airlines should be proud of being the first airline in the nation to
pay off its federal loan. It is a testament to the current and future success of
the airline and all of its employees."

About Frontier
Currently in its tenth year of operations, Denver-based Frontier Airlines is the
second largest jet service carrier at Denver International Airport with a fleet
of 39 aircraft and employing approximately 3,800 aviation professionals. Frontier,
in conjunction with Frontier JetExpress operated by Mesa Air Group ("Mesa"),
operates routes linking our Denver hub to 37 cities in 22 states spanning the
nation from coast-to-coast and to four cities in Mexico. Frontier's maintenance
and engineering department has received the Federal Aviation Administration's highest
award, the Diamond Certificate of Excellence, in recognition of 100 percent of its
maintenance and engineering employees completing advanced aircraft maintenance
training programs, for four consecutive years. In August 2003, Frontier ranked as
one of the "Top 10 Domestic Airlines" as determined by readers of Travel & Leisure
magazine. Frontier provides capacity information and other operating statistics on
its Web site, which may be viewed at WWW.FRONTIERAIRLINES.COM.