FAQs, Contact Despite the impact of the Delta and Omicron variants, and rising fuel prices, management remained financially disciplined and the Company ended the year in a strong financial position. Frontier Airlines is a low-cost carrier airline based in Denver, Colorado. Policy, California All aircraft in the fleet are financed with operating leases that expire between 2022 and 2033. As of September30, 2021, Frontier had a fleet of 112 Airbus single-aisle aircraft, consisting of 73 A320neos, 18 A320ceos, and 21 A321ceos. Reconciliation of Net Income (Loss) to Adjusted Net Income (Loss)($ in millions) (unaudited). This addition coincides with the airlines commitment to create more sustainable flying options. (i) Represents the tax impact of the non-GAAP adjustments, taking into consideration the non-deductibility of the warrant mark to market adjustments for tax purposes. Continued the domestic and international network expansion, opening stations in Antigua, Belize, Costa Rica, and Newburgh/Stewart, NY during the fourth quarter. In accordance with the amended and restated phantom equity agreement, the remaining phantom equity obligation became fixed as of December 31, 2019 and is no longer subject to valuation adjustments. The entry into service of the A321neo aircraft in the second half of 2022 will advance Frontier's structural advantage in fuel and operating expense efficiency versus the industry. These non-GAAP financial measures have limitations as analytical tools. Customers will soon be able to shop an array of fun Frontier-branded merchandise and purchase apparelwith your favorite Frontier plane tail. The Company incurred $1 million and $11 million in aircraft rent and depreciation costs during the three and nine months ended September30, 2021, respectively, relating to the acceleration and resulting changes to its lease return obligations. We know pilots are the heart of our airline so we offer competitive benefits and flight privileges for you and your family. __________________(a) Reference End Note 1 within the previous section for discussion on basic and diluted shares. frontier airlines dressirina emelyanova pasternak 26th February 2023 / in coastal carolina football camp 2022 / by / in coastal carolina football camp 2022 / by Additionally, the Company believes this metric is a useful comparator because it removes certain items that may not be indicative of base operating performance or future results. The warrants are expected to be part of the Company's diluted share count under the treasury stock method in future quarters. These aircraft were originally scheduled to return in December 2021 and were instead returned during the second and third quarters of 2021. We offer a variety of benefits, including health, financial, travel and retirement to take care of our crew. The personal-finance website WalletHub released a new ranking of US airlines based on 2021 flight data collected by the US Department of Transportation. These forward-looking statements are based on the Companys current expectations and beliefs with respect to certain current and future events and anticipated financial and operating performance. It operates flights to over 100 destinations throughout the United States and 31 international destinations, and employs more than 3,000 staff. With over 140 new Airbus planes on order, Frontier will continue to grow to deliver on the mission of providing affordable travel across America. Join the Frontier family as a pilot of one of the fastest-growing airlines. Frontier A20N at Las Vegas on Dec 12th 2021, tail strike on landing. As 2022 begins, Frontier Airlines continues to grow and deliver on the mission of providing affordable travel across the United States. (c) Fuel cost per gallon is inclusive of estimated fuel taxes and into-plane fuel costs. A Frontier Airlines Airbus A320-200N, registration N307FR performing flight F9-2047 from Memphis,TN to Las Vegas,NV (USA), landed on Las Vegas'. OFF. Throughout 2021, Frontier displayed its operational and financial resiliency notwithstanding the persistent challenges from COVID-19 variants, commented Barry Biffle, president and CEO. "This quarter reflected another step in our path to recovery, with the business remaining resilient in managing the dynamic nature of the pandemic," said Barry Biffle, Frontier's president and CEO. DENVER, Nov. 10, 2021 (GLOBE NEWSWIRE) -- Frontier Group Holdings, Inc., parent company of Frontier Airlines, Inc. (NASDAQ: ULCC), today reported its financial results for the third quarter of 2021. o The name and telephone number of the adult meeting the child at his/her destination. Frontier Airlines hired more than 670 new flight attendants and 170 pilots in 2021 and will continue to welcome more crew members in 2022. (a) Due to the significant reduction in demand resulting from the COVID-19 pandemic, future anticipated consumption of fuel dropped significantly and the Company therefore de-designated hedge accounting in March 2020 on the derivative positions where the future consumption was not deemed probable, which primarily related to the written put options on costless collars. Excludes aircraft rent expense of $1 million and $10 million for the three and nine months ended September30, 2021, respectively, for costs incurred due to the early termination of the Company's A319 leased aircraft. Frontier will begin flying between Oakland, California and Las Vegas starting February 5, 2021. Reconciliation of Total Operating Expenses to Adjusted Total Operating Expenses($ in millions) (unaudited). Even though they're on their own, we'll be there to help every step of the way with our unaccompanied minor escort service. Prices, California Total operating expenses for the third quarter of 2021 totaled $587 million, including $72 million of CARES Act credits and $1 million of early lease termination costs. Visit our Ratings Now! We will provide you with an escort pass to get to the gate. Airlines Introduce, Alter Family Seating Policies, Airlines Add, Reinstate New Routes Across the World, Devastating Trkiye, Syrian Earthquake: How to Help as Death Toll Rises. Learn more about our business model at Why Fly Frontier! Children traveling unaccompanied pay a full adult fare. The United Kingdom ranks as the most popular destination for U.S. travelers, with cities like London and Edinburgh seeing the most Americans. Hours logged in flight simulators, or as flight engineer, bombardier, navigator, WSO, EWO, RIO, NFO, UAV, or Special Crew will not be considered as flight time for these purposes. Frontier Airlines Reports Fourth Quarter and Full Year 2021 Financial Results, (unaudited, in millions, except for percentage and per share amounts), Average daily aircraft utilization (hours), Revenue passenger miles (RPMs) (millions), Non-fare passenger revenue per passenger($), Total revenue per available seat mile (RASM)(), Derivative de-designation and mark-to-market adjustment, Collective bargaining contract ratification, Cares Act grant recognition and employee retention credits, Write-off of deferred registration statement costs due to significant market uncertainty, CARES Act mark-to-market impact for warrants, Tax benefit (expense) related to non-GAAP adjustments, Derivative de-designation and mark to market adjustment, CARES Act mark to market impact for warrants. Adjusted CASM including net interest is included as a supplemental disclosure because the Company believes it is a useful metric to properly compare its cost management and performance to other peers that may have different capital structures and financing strategies particularly as it relates to financing primary operating assets such as aircraft and engines. For those who are not available for the live webcast, the call will be archived and available for at least 30 days on the investor relations section of the Company's website. Frontier enables people to go places they never expected, whether to our main hub in Denver or to our international locations in Mexico, Puerto Rico, Jamaica, Guatemala . Subscribe to have AirlineRatings.com Newsletter delivered to your inbox! Our pilots receive industry competitive benefits. The use of these aircraft, Frontiers seating configuration, weight-saving tactics and baggage process have all contributed to the airlines average of 43 percent fuel savings compared to other U.S. airlines (fuel savings is based on Frontier Airlines 2019 ASMs per fuel gallon consumed compared to the weighted average of major U.S. airlines), which makes Frontier the most fuel-efficient U.S. airline. Of this amount, ancillary revenue was $63 per passenger, eight percent higher than the comparable 2019 quarter, supported by the economic recovery and the Company's innovative product offerings. If youve been searching for a scaled-down version of a classic car to race around your privateestate, youre in luck: The Little Car Company based in the United Kingdom is the global leader in the production of iconic cars that are fully operational, 75 percent scale models of the original. . These services are not currently available on Frontier flights. This fuel efficiency reflects Frontiers operation of a large number of aircraft with new generation, fuel-efficient engines, lightweight seats, and an efficient seating layout. Apply The Company is providing below a reconciliation of GAAP financial information to the non-GAAP financial information provided. Frontier is notorious for being extremely picky about personal items and requires each passenger to size their bag in a bin before getting on the plane. Contacts: All forward-looking statements in this release are based upon information available to us on the date of this release. Us, Investor Reconciliation of Non-GAAP Financial Information. The expansion will continue through the balance of 2021, with new stations being added in Antigua, Belize, and Costa Rica along with Frontier's largest ever schedule in Orlando. Frontier is now seeing an improvement in fare levels as the holiday season approaches, however, fuel prices have continued to increase, creating a short-term cost hurdle to overcome. Thomas Pallini/Insider. Repaid the $150 million Treasury Loan in February 2022. At Frontier, we believe The Sky is for Everyone and we deliver on this vision through our unique brand of Low Fares Done Right. We continue to view the impact of COVID-19 as transient, and remain focused on getting the airline back to full utilization in 2022 while being nimble to counter any further COVID-19 impacts. Frontier completed an order of 91 additional A321neo aircraft in November 2021 that are scheduled for delivery between 2023 and 2029. The airline lost $225 million last year after bringing in $1.25 billion in . Reconciliation of Non-GAAP Financial Information. Policy, Copyright 2023 Frontier Additionally, the property was the only hotel in Manchester to be featured on The London Sunday Times list of the 100 Best Places to Stay in the United Kingdom in 2023. Frontier Tip: Don't see the route you're looking for? _________________(a) The Company expects that demand will continue to recover as 2021 progresses and will monitor and adjust capacity levels as appropriate. The non-GAAP financial information is included to provide supplemental disclosures because the Company believes they are useful additional indicators of, among other things, its operating and cost performance. Frontier Airlines has taken a unique approach to the pandemic, especially for an ultra-low-cost carrier . Email: JenniferF.Delacruz@flyfrontier.com Phone: 720.374.4207 (e) Represents expenses associated with an early out program agreed to in 2019 with the Company's flight attendants, payable throughout 2019, 2020 and 2021. As we look forward to 2022, were excited to continue this momentum with new, greener, aircraft joining our fleet, and many more exciting new route opportunities for our customers.. The conference call will be broadcast live over the Internet. Ukrainian brand Kachorovska recently launched its newest collection in honor of the first anniversary of the Russian invasion. Added bases like Tampa (TPA) and Atlanta (ATL) expanded the companys local benefit with new jobs and more attractive base options for team members. Europe is more fun with a Portugal Stopover. Get insider information and deals in your inbox! 2023 Frontier Group Holdings, Inc. All rights reserved. Excludes aircraft rent expense of $10 million for the year ended December31, 2021 for costs incurred due to the early termination of the Company's A319 leased aircraft. "Reconciliation of CASM to Adjusted CASM (excluding fuel) and Adjusted CASM including net interest (unaudited). In addition, the entry into service of the A321neo aircraft in the second half of 2022 will advance Frontier's structural advantage in fuel and operating expense efficiency versus the industry. The ONLY airline rating that includes Safety, Product and COVID-19 safety ratings! With over 100 destinations and a route network that connects people to all corners of the country. Housed in a former, early 20th-century cotton warehouse, canal-side LEVEN Manchester has a modern, industrial feel to it thanks to exposed brick walls and contemporary furnishings. Frontier opened three new stations during the third quarter of 2021 and operated an average of over 435 flights per day, which was eight percent higher than the comparable pre-COVID quarter in 2019. Email: investorrelations@flyfrontier.com Phone: 917.518.1378. We recognize that everyone's story is different and we believe that you deserve a travel experience that is unique to you. Frontier Airlines Saw Exponential Growth in 2021. Even though they're on their own, we'll be there to help every step of the way with our unaccompanied minor escort service. As of December31, 2021, Frontier had a fleet of 110 Airbus single-aisle aircraft, consisting of 73 A320neos, 21 A321ceos and 16 A320ceos. Frontier Airlines (NASDAQ: ULCC) is committed to Low Fares Done Right. Headquartered in Denver, Colorado, the Company operates more than 100 A320 family aircraft and has the largest A320neo fleet in the U.S. This was 12 percent higher than the ancillary revenue per passenger generated during the comparable pre-COVID quarter in 2019. and The spring/summer 2023 collection, titled MODERN WOMANHOOD, celebrates the countless roles women assume in todays age. For all customer service questions, call 1-800-921-8101. With several strategic agreements, including a deal with manufacturer Pratt & Whitney for ultra-efficient GTF engines to power its aircraft, Frontier Airlines continues to find and implement fuel-saving technology. Please enter a valid station pair and try again. Save 99% Off w/ Discount Code. Frontier had 109 average aircraft in service during the third quarter of 2021 as compared to 90 during the third quarter of 2019. The Company is providing below a reconciliation of GAAP financial information to the non-GAAP financial information provided. David Erdman, Investor Relations Generated $63 of ancillary revenue per passenger during the fourth quarter of 2021, eight percent higher than the comparable 2019 quarter. Bag 3 - Limit your touchpoints - for instance, download your mobile boarding pass prior to arrival. Nashvilles once-modest skyline continues to evolve as its luxury market grows. Frontier's current forward guidance estimates, summarized in the table below, take the lingering effect from the Delta variant into consideration along with higher expected fuel prices. route map by 132 routes, 21 destinations and nine countries. All forward-looking statements in this release are based upon information available to the Company on the date of this release. special section announcing the 2021 Airline Excellence Awards! San Juan, PR - Punta Cana, Dominican Republic. The fourth quarter and full year 2021 guidance items provided below are based on the Company's current estimates and are not a guarantee of future performance. FXExpress Traveler of the Year Contest 2023. The fleet operated at a 74.2 percent load factor during the quarter, which was impacted by the Delta and Omicron variants. Prices, Privacy Review what you'll need below: Frontier considers only hours in fixed wing/rotary aircraft as flight time towards minimum qualifications. Frontier's capacity, as measured by ASMs, modestly exceeded the levels achieved in the comparable pre-COVID quarter in 2019. Ended the fourth quarter of 2021 with $918million of unrestricted cash and cash equivalents. From becoming a publicly-traded company in April, to adding more than 130 routes and nearly ten international destinations to Frontiers route network, and ordering 91 new Airbus A321neo aircraft, weve demonstrated the incredible growth our Low Fares Done Right business model is capable of, said Barry Biffle, president and CEO, Frontier Airlines. The calculation of Adjusted CASM including net interest provided in the tables above reflects the sum of Adjusted CASM and net interest expense (income) excluding special items per ASM. Please contact our. The Company won first place for North America's Youngest Aircraft Fleet Award for 2022 by ch-aviation, a leading provider of airline data and intelligence, with an average aircraft age of four years, and was recognized as one of the safest low-cost airlines in the world by AirlineRatings.com, a forensic airline research publication. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, except as required by applicable law. As the recovery from the pandemic continues to unfold and utilization levels normalize, the resulting capacity benefit on the Company's fleet, which had 21 percent more aircraft in service in the third quarter of 2021 compared to the corresponding pre-COVID quarter in 2019, is expected to favorably impact the Company's Adjusted CASM (excluding fuel) in 2022 and beyond. On the Travel Tails Blog, you will find a variety of engaging articles containing travel tips, news and fascinating destination features, as well as stories from our customers and team members. Frontiers fleet continues to be the most fuel-efficient of all major U.S. carriers when measured by ASMs per fuel gallon consumed, generating 102 ASMs per gallon during the fourth quarter of 2021. Thats why we make a bigger commitment thats the Done Right promise. COUPON CODE. These non-GAAP financial measures may be presented on a different basis than other companies using similarly titled non-GAAP financial measures. The lack of these services and electrical outlets on our flights means cost savings, and the lowest fares possible can be passed on to our customers! Privacy Frontier had 18 percent more average aircraft in service during the fourth quarter of 2021 compared to the fourth quarter of 2019. (f) Represents the recognition of $278million of grant funding received from the U.S. government for payroll support pursuant to PSP2 and PSP3 during the year ended December31, 2021 in addition to $17 million in employee retention credits qualified for under the CARES Act during the year ended December 31, 2021. The Company retired the last of the A319 aircraft from its fleet during the quarter, increasing the proportion of the more fuel efficient A320neo family aircraft to 65 percent of its total fleet. Opened in December 2022, the hotel is located on the corner of Chorlton and Canal streets, in the citys vibrant Village neighborhood. These forward-looking statements are based on the Companys current expectations and beliefs with respect to certain current and future events and anticipated financial and operating performance. The Company is focused on repaying the $150 million outstanding under the Treasury Loan. Adjusted CASM including net interest is not determined in accordance with GAAP, may not be comparable across all carriers and should not be considered in isolation or as a substitute for performance measures calculated in accordance with GAAP.%, Contacts: Reconciliation of CASM to Adjusted CASM (excluding fuel) and Adjusted CASM including net interest (unaudited). 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