Frontier Questions...
08-28-2009 | 03:21 PM
#1
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From: E170/175 CA
Frontier Questions...
I have a question regarding the credit card processing company that essentially forced F9 into bankruptcy. As I understand it, the credit card company changed the precent of ticket sales they withheld (until the passenger actually travelled), which put a severe crimp on the amount of cash on hand Frontier had right when fuel prices were skyrocketing.
My questions are:
1. Does frontier still utilize that company for processing its credit card transactions?
2. If so, does that company still withhold 100% of fares until the passenger travels?
3. Has the string of profits realized by frontier been in spite of the 100% withholding, or has their profit been the result of freed up cash coming from the credit card processor?
My questions are:
1. Does frontier still utilize that company for processing its credit card transactions?
2. If so, does that company still withhold 100% of fares until the passenger travels?
3. Has the string of profits realized by frontier been in spite of the 100% withholding, or has their profit been the result of freed up cash coming from the credit card processor?
08-29-2009 | 03:37 AM
#2
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Joined: Jul 2009
Posts: 43
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no
I have a question regarding the credit card processing company that essentially forced F9 into bankruptcy. As I understand it, the credit card company changed the precent of ticket sales they withheld (until the passenger actually travelled), which put a severe crimp on the amount of cash on hand Frontier had right when fuel prices were skyrocketing.
My questions are:
1. Does frontier still utilize that company for processing its credit card transactions?
2. If so, does that company still withhold 100% of fares until the passenger travels?
3. Has the string of profits realized by frontier been in spite of the 100% withholding, or has their profit been the result of freed up cash coming from the credit card processor?
My questions are:
1. Does frontier still utilize that company for processing its credit card transactions?
2. If so, does that company still withhold 100% of fares until the passenger travels?
3. Has the string of profits realized by frontier been in spite of the 100% withholding, or has their profit been the result of freed up cash coming from the credit card processor?
2. Yes
3. no, Republic will bring F9 out of bankruptcy end of Sept or early Oct and at that point they will go to First Data and request the 100% to be reduced and so they will most likely reduce it to around 60% holdback. They will release upwards of $50 mill to Republic/F9.
08-31-2009 | 02:15 PM
#3
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Or...
Or Bedford will use the credit card processor that Midwest owns (excuse me, he owns) to handle all of that in the future and kick First Data to the curb after a full refund of the 150M. First Data had experienced so much flak over this deal that they are hauling up stakes and getting the hell out of Denver. Moving the headquarters to ATL. Hey, Airtran...need a Credit Card Processor?
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