Frontier Airlines Holdings Inc. says it had a net profit of $1.1 million in May, marking the seventh straight month the company has reported gains.

The Denver-based airline announced the profit Thursday. The company says it had a net loss of $22 million last year in May. Frontier filed for Chapter 11 bankruptcy in April 2008.

Republic Airways Holdings announced this week that it is offering to buy Frontier for $108.8 million and take it out of bankruptcy.

The Indianapolis-based company says a court-supervised auction will determine whether anyone will make a better offer.

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