On April 10, 2008, Frontier filed for Chapter 11 bankruptcy in reaction to the intent of its credit card processor, First Data, to withhold significant proceeds from ticket sales.[23][better source needed] First Data decided that it would withhold 100% of the carrier's proceeds from ticket sales beginning May 1.[24] According to Frontier's press release, "This change in practice would have represented a material change to our cash forecasts and business plan. Unchecked, it would have put severe restraints on Frontier's liquidity..." Its operation continued uninterrupted, though, as Chapter 11 bankruptcy protected the corporation's assets and allowed restructuring to ensure long-term viability.[citation needed] After months of losses, Frontier Airlines reported that they made their first profit during the month of November 2008, reporting US$2.9 million in net income for the month.[25]
On July 24, 2007, jetBlue reported that its second-quarter revenue increased to $730 million, compared to $612 in 2006. Second quarter net income grew to $21 million for the quarter, from $14 million the previous year. CEO David Barger said the airline will take delivery of three fewer planes this year and will sell three planes from their current fleet, "slowing capacity growth ... to strengthen our balance sheet and facilitate earnings growth", but will continue to add two to four new destinations each year.[25]
JetBlue Technology Ventures (JTV) [137] is a wholly owned subsidiary of JetBlue that was established in February 2016.[138] JTV is the venture capital arm of JetBlue that invests in and partners with early-stage startups in the travel, hospitality, and transportation space. Its mission is to improve the end-to-end experience of travelers everywhere. As of November 2018, JTV has invested in 21 startups, including hybrid planes,[139] machine learning algorithms,[140] and ground transportation.[141] Investments range in size from $250,000 to $1 million.[142]
Allegiant Air (G4) is an American low-cost carrier that is headquartered in a suburb of Las Vegas. Founded in 1997, the airline does not use hubs, but has designated more than 10 focus cities. These include McCarran International Airport (LAS), Fort Lauderdale–Hollywood International Airport (FLL), Los Angeles International Airport (LAX) and Orlando Sanford International Airport (SFB). Although Allegiant flies into some major airports, many of its destinations are smaller cities or secondary airports that serve larger cities. In total, the airline serves about 105 domestic destinations in 41 states. The airline's fleet of 81 aircraft are each configured with a single Economy Class cabin.
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