Frontier Group Holdings (ULCC) Company Overview

DENVER , Feb. 7, 2025 /PRNewswire/ -- Frontier Group Holdings, Inc. (Nasdaq: ULCC), parent company of Frontier Airlines, Inc., today reported financial results for the fourth quarter and full year 2024, including record revenue, and issued guidance for the first quarter and full year 2025. Highlights: Pre-tax margin and adjusted (non-GAAP) pre-tax margin were both 5.1 percent for the fourth quarter Ended the year with $935 million of total liquidity, bolstered by the Company's undrawn revolving line of credit, representing approximately 25 percent of trailing twelve month revenue compared to 17 percent at the end of 2023 RASM was 10.23 cents, 15 percent higher than the comparable 2023 quarter Total operating revenues were $1.0 billion, a record for any quarter in Frontier's history and 12 percent higher than the comparable 2023 quarter, on 2 percent lower capacity; full-year 2024 revenue was a record $3.8 billion, 5 percent higher than 2023 CASM in the fourth quarter was 9.78 cents, including fuel expense at an average cost of $2.48 per gallon and total operating expenses (excluding fuel) of $728 million, of which the latter two were within the previously issued guidance range Full-year 2024 adjusted CASM (excluding fuel), stage length adjusted to 1,000 miles, a non-GAAP measure, was down 1.2 percent compared to the prior year, consistent with guidance Achieved a 99.4 percent completion factor in December 2024, second among all major domestic carriers, supported by the Company's shift to network simplification Took delivery of six A321neo aircraft during the fourth quarter, increasing the proportion of the fleet comprised of the more fuel-efficient A320neo family aircraft to 82 percent as of December 31, 2024, the highest of all major U.S. carriers Generated 106 available seat miles ("ASM") per gallon, a Company record, approximately 1 percent higher than the comparable 2023 quarter, reaffirming Frontier's position as the most fuel-efficient of all major U.S. carriers and its ongoing commitment to being "America's Greenest Airline" (as measured by ASMs per fuel gallon consumed during the fourth quarter compared to all other major U.S. carriers) Unveiled the next phase of 'The New Frontier' by offering an array of new products, including, among other benefits, First Class seating, companion passes and free premium seating upgrades for Elite members Recognized by the Centre for Aviation (CAPA) as a winner of the prestigious 2024 North American Environmental Sustainability Airline Award, which cited Frontier's industry leading emissions reductions and efficiency Launched 22 routes in December 2024, two-thirds of which are touching a crew base to build scale and reliability to the network, and announced 16 routes launching in February and March 2025, expanding service across the United States and the Caribbean, including Frontier's return to Tucson, Reno and Antigua and Barbuda "Our revenue and network initiatives contributed to record fourth quarter revenue, setting us on a trajectory for significant year-over-year RASM growth in 2025 which underpins our target of achieving double-digit adjusted pre-tax margins in the summer of 2025," commented Barry Biffle, Chief Executive Officer.

SAN DIEGO--(BUSINESS WIRE)--Johnson Fistel, LLP has begun an investigation into whether the board members of Frontier Communications Parent, Inc. (NASDAQ: FYBR) breached their fiduciary duties in connection with the proposed merger with Verizon Communications Inc. (NYSE: VZ). On November 13, 2024, Frontier Communications shareholders approved the merger agreement with Verizon, with approximately 63% of stockholders voting in favor of the merger. However, ten of Frontier's twelve largest shareho.

LOS ANGELES--(BUSINESS WIRE)-- #newaward--Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that a joint venture between the Company and its subsidiary, Frontier-Kemper Constructors, has been awarded a design-build contract valued at approximately $1.18 billion by the Gateway Development Commission for the Manhattan Tunnel Project, a component of the Hudson Tunnel Project (“HTP”). The HTP is a resiliency and reliability proje.

NEW YORK , Feb. 5, 2025 /PRNewswire/ -- In an era of algorithms, data overload, and advertising that often leaves audiences numb, DDB Worldwide is taking a stand for emotion with the launch of the Feels Barometer—a first-of-its-kind global tool designed to measure, decode, and harness human feelings at scale. "We are in a crisis of marketing effectiveness," said Tomas Gonsorcik, Global Chief Strategy Officer at DDB Worldwide.

Spirit Airlines has rejected a merger offer with Frontier as it prepares to exit bankruptcy.

Frontier made its first offer to buy Spirit in 2022.

Frontier Group Holdings ULCC has proposed a merger with Spirit Airlines SAVEQ through newly issued debt and stock, offering higher recoveries for Spirit's stakeholders than its standalone restructuring plan.

After walking away from a deal twice last year, Frontier is now making an offer involving fresh debt and stock.

Spirit Airlines on Wednesday said it expects to exit bankruptcy in the first quarter and rejected a merger with rival Frontier Group , saying it was not favorable for the low-cost carrier.