Rebound seen in Frontier Airlines stock

Frontier Airlines witnessed a rebound in its stock price Monday. The low-cost carrier filed for Chapter 11 bankruptcy protection last week, a move that sent the company's share price plummeting.

Shares of Denver-based Frontier (NASDAQ: FRNT) closed Friday at 48 cents apiece, and opened Monday at 64 cents. The stock closed at 79 cents, up 66.65 percent. Trading was heavy, with a volume of 21.8 million shares.

During the past year, Frontier's stock price has ranged from a low of 37 cents to a high of $7.46.

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Frontier, the second-largest airline serving Denver International Airport, filed Chapter 11 Thursday in New York City. The airline said it made the decision to file after its principal credit card processor, Greenwood Village-based First Data Corp., changed its procedures, specifically its holdback of receipts from sales of tickets to customers. That, the airline said, severely threatened its liquidity.

The airline said it will continue its full schedule of flights and will honor tickets and reservations and provide refunds and exchanges under its standard policies.