Frontier Group Holdings Inc

Latest Results (10.01.2025):

Revenue Performance

Frontier Group Holdings Inc reported a 6 percent increase in total operating revenue for the third quarter of 2024, reaching $935 million. This growth was achieved despite a $5 million impact from Hurricane Helene. The company experienced a 4 percent increase in capacity, with departures rising by 17 percent compared to the same quarter in 2023. The total revenue per passenger was $106, and the flown load factor stood at 78.0 percent.

Cost Performance

In the third quarter of 2024, Frontier Group Holdings Inc's total operating expenses amounted to $916 million. This included $261 million in fuel expenses at an average cost of $2.67 per gallon. Excluding a $38 million non-recurring credit from a legal settlement, adjusted total operating expenses (excluding fuel) were $693 million. The company's CASM was 9.10 cents, 6 percent lower than the same quarter in 2023, reflecting effective cost management and savings initiatives.

Earnings

Frontier Group Holdings Inc reported a pre-tax income of $27 million for the third quarter of 2024, with a pre-tax margin of 2.9 percent. However, the adjusted (non-GAAP) pre-tax loss was $10 million, reflecting an adjusted pre-tax loss margin of 1.1 percent. The net income for the quarter was $26 million, while the adjusted (non-GAAP) net loss was $11 million.

Liquidity

As of September 30, 2024, Frontier Group Holdings Inc's total liquidity was $781 million. This included $576 million in unrestricted cash and cash equivalents, along with $205 million available from the company's revolving credit facility. The company also received $40 million in early October from a settlement related to litigation against a former aircraft lessor.

Fleet and Efficiency

Frontier Group Holdings Inc's fleet consisted of 153 Airbus single-aisle aircraft as of September 30, 2024. The company took delivery of five A321neo aircraft during the third quarter, increasing the proportion of its fleet comprised of the more fuel-efficient A320neo family to 81 percent. Frontier maintained its position as "America's Greenest Airline," generating 103 available seat miles per gallon during the quarter, the highest among major U.S. carriers.