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F O R M 3
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Wexford Spectrum Investors LLC
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(Last) (First) (Middle)
411 W. Putnam Avenue
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(Street)
Greenwich, CT 06830
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
December 2, 1997
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Issuer Name and Ticker of Trading Symbol
Frontier Airlines, Inc. (FRNT)
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5. Relationship of Reporting Person to Issuer (check all applicable)
[ ] Director*
[ X ] 10% Owner
[ ] Officer (give title below)
[ ] Other (specify below)
______________________________
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6. If Amendment, Date of Original (Month/Day/Year)
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7. Individual or Joint/Group filing (Check Appropriate Line)
[X] Form filed by One Reporting Person
[ ] Form filed by More Than One Reporting Person
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<TABLE>
<CAPTION>
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TABLE I -- NON-DERIVATIVE SECURITIES BENFICIALLY OWNED
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1. Title of Security (Instr. 4) 2. Amount of Securities 3. Ownership From: 4. Nature of Indirect
Beneficially Owned Direct (D) or Beneficial
(Instr. 4) Indirect (I) Ownership
(Instr 5.) (Instr. 5)
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<S> <C> <C> <C>
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</TABLE>
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<TABLE>
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TABLE II -- DERIVATIVE SECURITIES BENFICIALLY OWNED (e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivative Security 2. Date 3. Title and 4. Conversion 5. Ownership 6. Nature of
(Instr. 4) Exercisable Amount of Or Exercise Form of Indirect
and Securities Price of Derivative Beneficial
Expiration Underlying Derivative Security: Ownership
Date (Month/ Derivative Security Direct (Instr. 5)
Day/Year) Security (D) or
(Instr. 4) Indirect (I)
(Instr. 5)
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Date Expira- Amount or
Exer- tion Number
cisable Date Title of Shares
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<S> <C> <C> <C> <C> <C> <C> <C>
Common Stock Purchase Warrants 12/02/97 12/15/01 Common Stock, no 500,000 $3.00 D
par value
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Common Stock Purchase Warrants 12/17/97 12/15/01 Common Stock, no 1,000,000 $3.00 D
par value
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Explanation of Responses:
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/s/Arthur Amron 1/23/98
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Signature of Reporting Person Date
