Another one bites the dust! Frontier Airlines has now filed for bankruptcy after a credit card processor indicated that they would begin withholding receipts from the airline's ticket sales. Stockholders are now quite nervous, and are considering pulling out to avoid further losses.

According to a statement, Frontier said that they would continue to operate without disruption during the bankruptcy proceedings, offering their full schedule of flights, honoring reservations, and paying both its employees and suppliers.

Denver-based Frontier said that they were forced to file for bankruptcy protection "following an unexpected attempt by its principal credit card processor to substantially increase a 'holdback' of customer receipts, which threatened to severely impact Frontier's liquidity." The company filed for Chapter 11 bankruptcy in a New York court on Friday.