Exhibit 10.26

FRONTIER AIRLINES, INC.
2004 EQUITY INCENTIVE PLAN

NON-QUALIFIED STOCK OPTION AGREEMENT

THIS NON-QUALIFIED STOCK OPTION AGREEMENTis made as of this            day
of                        ,
200    (the "Grant Date"), between Frontier Airlines, Inc., a Colorado corporation (the "Company"),
and                        (the "Option Holder").

1.Grant of Option.Pursuant to the Frontier
Airlines, Inc. 2004 Equity Incentive Plan (the "Plan") and subject to the terms and conditions of this Agreement, the Company hereby grants to the Option Holder a non-qualified
stock option (the "Option") to purchase                        
(            ) shares of the common stock of the Company (the "Stock") at an exercise price per share of $            (the "Option
Price"). The Option grant is effective as of the Grant Date. The Option is not intended to qualify as an incentive stock option under Section 422 of the Internal Revenue Code of 1986, as
amended (the "Code").

2.Requirements for Exercise; Vesting.Except as provided
otherwise in this Agreement, the Option shall not become exercisable until the Option Holder has completed one full year of continuous service as a member of the Company's Board of Directors ("Board
Service") after the Grant Date. Upon the completion of one full year of continuous Board Service after the Grant Date, the Option shall become vested and exercisable in full.

Except
as set forth in Section 5 and Section 6 of this Agreement, the Option shall not be exercisable as to any shares of Stock as to which the vesting requirements of this
Section 2 have not be satisfied, regardless of the circumstances under which the Option Holder's Board Service shall be terminated. Once exercisable, the Option will continue to be vested and
exercisable as to such shares until expiration or termination of the Option as provided in Section 5 or Section 6 hereof. If at any time the
number of shares of Stock that are covered by the vested and exercisable portion of the Option includes a fractional share, the number of shares of Stock as to which the Option shall be actually
vested and exercisable shall be rounded down to the next whole share of Stock.

3.Method for Exercising the Option.The Option may be exercised
only by delivery of written notice of exercise in person or through certified or registered mail, fax or overnight delivery to the Company at the following address: Frontier Airlines, Inc.,
Attention: Corporate Secretary, 7001 Tower Road, Denver, Colorado 80249, or such other address as shall be furnished in writing to the Option Holder by the Company, and payment of the Option Price in
full as described below. Such written notice shall specify that the Option is being exercised and the number of shares of Stock with respect to which the Option is exercised.

Payment
of the Option Price for the Stock in full, together with any taxes, must be made within 30 days of the delivery of the notice of exercise (i) by certified or
cashier's check payable to the Company's order, or (ii) by wire transfer to such account as may be specified by the Company for this purpose. Payment may be made by the Option Holder or by a
broker who is assisting the Option Holder with the exercise of the Option.

The
purchase of such Stock shall take place at the address of the Company and be effective upon delivery of the notice of exercise and payment of the Option Price for the Stock in full
together with any applicable taxes. At the time of purchase, a properly executed certificate or certificates representing the Stock so purchased shall be issued by the Company and delivered to the
Option Holder or a broker designee as instructed by the Option Holder.

The
Company intends to register the shares of Stock subject to this Option and this Option on a Form S-8 Registration Statement (or any successor or replacement Form).
Notwithstanding such registration, the Company may require the Option Holder, as a condition of exercise of this Option, to give written assurance in substance and form satisfactory to the Company and
its counsel to the effect


that the Option Holder is acquiring the Stock for his own account for investment and not with any present intention of selling or otherwise distributing the same, and to such other effects as the
Company deems necessary or appropriate in order to comply with federal and state securities laws. Legends evidencing such restrictions may be placed on the Stock certificates.

4.Adjustment of the Option.The number of shares subject to the
Option and the Option Price may be adjusted as provided in Section 11 of the Plan; provided however, that all adjustments shall be made in accordance with Section 409A of the Code and
the regulations or other guidance issued thereunder.

5.Expiration and Termination of the Option.The Option shall
expire on the tenth (10th) anniversary of the Grant Date, (the period from the Grant Date to the expiration date is the "Option Period") or prior to such time as follows:



6.Adjustment of and Changes in the Common Stock.The Option
shall be adjusted as provided in Section 11 of the Plan; provided that no adjustment shall be contrary to Code section 409A or shall be effected in a manner that would subject the Option
Holder to taxes and penalties under Code section 409A.

7.Transferability.The Option may not be transferred except by
will or pursuant to the laws of descent and distribution, and it shall be exercisable during the Option Holder's life only by him, or in the event of Disability or incapacity, by his guardian or legal
representative, and after his death, only by those entitled to do so under his will or the applicable laws of descent and distribution. Upon any attempt to transfer, assign, pledge, hypothecate or
otherwise dispose of the Option or any right or privilege granted hereunder, or upon the levy of any attachment or similar process upon the rights and privileges herein conferred, the Option and the
rights and privileges hereunder shall become immediately null and void.

8.Limitation of Rights.The Option Holder or his successor
shall have no rights as a stockholder with respect to the shares of Stock covered by this Option until the Option Holder or his successors become the holder of record of such shares.

9.Withholding.The issuance of Stock pursuant to the exercise
of this Option shall be subject to the requirement that the Option Holder shall make appropriate arrangements with the Company to provide for the amount of any tax withholding that is applicable to
the exercise of the Option.

10.Miscellaneous.



Any
such notice shall be deemed to have been given as of the second day after deposit in the United States mails, postage prepaid, properly addressed as set forth above, in the case of
mailed notice, or as of the date delivered in the case of personal delivery.



IN WITNESS WHEREOF, the parties have executed this Agreement as of the day and year first above written.

| | FRONTIER AIRLINES, INC.
| | -----------------------
| | By:                    
| | Name:                  
| | Title:                 
| | OPTION HOLDER          
| |                        
| | Printed Name:          
| | Address:               
| |                        
| |                        



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