Tue, Oct 29, 12:06 PM (263 days ago)
For the quarter ending September 30, 2024, Frontier Group Holdings, Inc. (ULCC) reported total operating revenues of $935 million, up 6% from $883 million in Q3 2023, driven by a 4% capacity increase and a 2% rise in revenue per available seat mile (RASM). Operating expenses decreased to $916 million, resulting in a cost per available seat mile (CASM) of 9.10¢, a 6% decline year-over-year. The fuel expense was down 10% due to lower fuel costs, despite a 4% increase in fuel gallons consumed. Net income for the quarter was $26 million, compared to a loss of $32 million in Q3 2023. The company also experienced a legal settlement gain of $40 million, which positively influenced other operating expenses. Frontier's total cash and cash equivalents at the end of the quarter were $576 million, with a debt-to-capital ratio of 46%. Looking ahead, the company is navigating uncertainties related to aircraft deliveries and ongoing union negotiations, while also managing a significant aircraft purchase commitment of $11.9 billion through 2031.