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. First Data decided that it would withhold 100% of the carrier's proceeds from ticket sales beginning May 1. 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. After months of losses, Frontier Airlines reported that they made their first profit during the month of November 2008, reporting in net income for the month.