The amount takes into consideration the additional expected capacity, the Company's continued investment in the recovery, and no aircraft deliveries in the fourth quarter resulting in no aircraft related sale leaseback gains. Total operating expenses for the fourth quarter of 2021, on both a GAAP and adjusted basis, were $695 million, including $186 million of fuel expenses at an average cost per gallon of $2.43. in Frontier Airlines coupons. During the fourth quarter, we increased our capacity, departures, fuel efficiency and level of ancillary revenue per passenger versus the comparable pre-COVID period. 50%. Please see Reconciliation of Non-GAAP Financial Information on page 8 below. Frontier continued its domestic and international expansion, opening four new stations and operating an average of over 450 flights per day. Route Map. The Company incurred $11 million in aircraft rent and depreciation costs during the year ended December31, 2021 relating to the acceleration and resulting changes to its lease return obligations. Founded in 1994, they are committed to providing their customers with low fares and quality service. We are here to help 24/7. FAQs, Contact Frontiers quarterly earnings conference call is scheduled to be held today (November10, 2021) at 4:30 p.m. Eastern Time (USA). 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. 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 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. Us, Investor Even though they're on their own, we'll be there to help every step of the way with our unaccompanied minor escort service. (U.S. Marine Corps video edited by LCpl Joshua Sechser and LCpl Shane Beaubien) Frontier ended the fourth quarter of 2021 with $918million of unrestricted cash and cash equivalents. Hired more than 550 flight attendants and 170 pilots in support of the growth of the airline. Frontier undertakes no duty to update any forward-looking statements or estimates. Cautionary Statement Regarding Forward-Looking Statements and Information: Certain statements in this release, including statements regarding the Companys outlook for the fourth quarter 2021 and its earnings target range, should be considered forward-looking statements within the meaning of the Securities Act of 1933, as amended, the Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Frontier's ancillary revenue per passenger during the third quarter was 12 percent higher than the comparable pre-COVID quarter in 2019. Welcome to the official Facebook page of Frontier Airlines. The personal-finance website WalletHub released a new ranking of US airlines based on 2021 flight data collected by the US Department of Transportation. We will provide your child with a safe, comfortable and memorable experience. With over 100 destinations and a route network that connects people to all corners of the country. Frontier Airlines is a major ultra-low-cost U.S. airline headquartered in Denver, Colorado. Added approximately 130 routes and 20 destinations. Tell us your thoughts. Frontier ended 2021 with a total fleet of 110 aircraft, which is six percent higher than the corresponding prior year period and 12 percent higher than the comparable pre-COVID quarter in 2019. 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. They sell so many tickets and end up canceling other peoples flights because there is no room available. 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. Frontier completed an order of 91 additional A321neo aircraft in November 2021 that are scheduled for delivery between 2023 and 2029. 1 Share amounts included in the basic and diluted earnings (loss) per share calculations for the fourth quarter and full year 2021, as reflected in the consolidated statements of operations, include the impact of the 15 million shares issued and sold by the Company as part of its initial public offering that closed on April 6, 2021. The. Frontier was profitable in the third quarter on a GAAP basis, recognizing $23 million of net income. Frontiers fleet is the most fuel-efficient of all major U.S. carriers when measured by ASMs per fuel gallon consumed. Jennifer F. de la Cruz Corporate Communications Repayment of this loan would unencumber the Companys co-branded credit card program and related brand assets that currently secure the Treasury obligation and make that collateral available to access substantial liquidity, if needed. You may also contact customer support at: Please confirm or update your e-mail address. All forward-looking statements in this release are based upon information available to us on the date of this release. The conference call will be broadcast live over the Internet. __________________(a) Reference End Note 1 within the previous section for discussion on basic and diluted shares. BOOK YOUR FLIGHT TODAY! Reconciliation of Total Operating Expenses to Adjusted Total Operating Expenses($ in millions) (unaudited). We recommend you feed your child prior to departure or provide your child with a snack to carry on the flight. Repaid the $150 million Treasury Loan in February 2022. All-You-Can-Fly Summer Pass at Special Introductory Price of $399, Frontier Airlines Announces Major Expansion of Service to Puerto Rico, including 5 Additional Nonstop Routes to San Juan, Plus New Service to Aguadilla and Ponce, About Because we want to be the airline for everyone. This amount of ancillary revenue per passenger was five percent higher than the second quarter of 2021 and 12 percent higher than the $56.32 of ancillary revenue per passenger generated during the comparable pre-COVID quarter in 2019. 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. 1 Share amounts included in the basic and diluted earnings (loss) per share calculations for the third quarter of 2021, as reflected in the Condensed Consolidated Statements of Operations, include the 15 million shares issued and sold by the Company as part of its initial public offering that closed on April 6, 2021, along with the impact of the 3.1 million warrants outstanding relating to CARES Act funding as calculated under the treasury stock method. Jul 20, 2022. Denver-based Frontier Airlines recently recounted its many accomplishments of 2021. Frontiers adjusted total operating expenses, excluding fuel, were $509 million, reflecting lower employee and station-related costs. And, bring your own snacks to avoid additional contact. 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. Save 99% Off w/ Discount Code. Frontier had 112 aircraft at the end of the quarter, 10 percent higher than the corresponding prior year period and 20 percent higher than the third quarter of 2019. These aircraft commitments bring the Company's total aircraft order as of December31, 2021 to 234 aircraft to be delivered through 2029, including 76 A320neo aircraft and 158 A321neo aircraft. Email: David.Erdman@flyfrontier.com Phone: 720.798.5886. Because of these limitations, determinations of the Companys operating performance or CASM excluding unrealized gains and losses, special items or other items should not be considered in isolation or as a substitute for performance measures calculated in accordance with GAAP. David Erdman, Investor Relations Reconciliation of Non-GAAP Financial Information. Don't wait to enjoy the Caribbean sun or Mexico's flavors when you book your flights from Denver (DEN), Philadelphia (PHL) or Chicago (ORD) with Frontier Airlines. After a bit of frustration struck us at the airport, being unable to locate our scheduled transportation to the resort, we quickly put that behind us when we were instantly greeted with the fresh peppermint scent of the lobby. Frontier Airlines has taken a unique approach to the pandemic, especially for an ultra-low-cost carrier . In 2021 alone, Fronter added 14 more Airbus A320 aircraft to its fuel-efficient Airbus fleet. Children age 15-17 have the option to travel as an unaccompanied minor with escort service or may travel as an adult passenger. We recognize that the safe transport of your child is your number one concern, and we know the importance of that responsibility. Flyfrontier.com. 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. Reconciliation of Net Income (Loss) to Adjusted Net Income (Loss)($ in millions) (unaudited). Summer Pass from ultra-low, DENVER January 31, 2023 Ultra-low fare carrier Frontier Airlines (NASDAQ: ULCC) today announced a major expansion of service to Puerto Rico, Frontier Airlines Automatically Seats Children with a Family Member or Adult in Their Party, Frontier Airlines and Pratt & Whitney Name GTF-powered A321neo Edward the Bald Eagle, in Honor of Late Tuskegee Airman Edward Hall, Frontier Airlines Launches GoWild! Frontiers fleet continues to be the most fuel-efficient of all major U.S. carriers when measured by ASMs per fuel gallon consumed, generating almost 100 ASMs per gallon during the third quarter of 2021. You'll need to escort your child to the gate and wait until the aircraft has taken off before you leave the airport. COUPON CODE. 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. The Company retired the last of the A319 aircraft from its fleet during the year, increasing the proportion of the more fuel-efficient A320neo family aircraft to 66 percent of its total fleet. Frontier has no planned aircraft deliveries during the fourth quarter of 2021. Email: investorrelations@flyfrontier.com Phone: 917.518.1378. special section announcing the 2021 Airline Excellence Awards! Enjoy stress-free travel with no change fees, seat selection and one checked bag. Frontier Group Holdings, Inc.Condensed Consolidated Statements of Operations(unaudited, in millions, except for per share data). Please contact our. 1 - Upon entering the airport, put your face-covering over your nose and mouth. Frontier ended the third quarter of 2021 with $802million of unrestricted cash and cash equivalents. Frontier took delivery of five A320neo aircraft during the quarter. Lavish hotel properties are added to the landscape while acclaimed chefs stake claim in the robust culinary scene and premier cultural offerings round out the citys repertoire. Further improvement is expected to the utilization and load factor levels achieved in fourth quarter of 2019 as the recovery from the COVID-19 pandemic continues. frontier airlines uniform 2021. See footnote (b) under the caption Reconciliation of Net Income (Loss) to Adjusted Net Income (Loss). All aircraft in the fleet are financed with operating leases that expire between 2022 and 2033. The ONLY airline rating that includes Safety, Product and COVID-19 safety ratings! How important is an airlines commitment to sustainable travel to you? See footnote (b) under the caption Reconciliation of Net Income (Loss) to Adjusted Net Income (Loss). During February 2022, the Company repaid the $150 million outstanding under the Treasury Loan. Frontier continued its domestic and international network expansion during the third quarter, opening stations in St. Maarten, San Jose, Costa Rica, and Burbank, California, as well as expanding the Company's Las Vegas schedule to its highest number of departures ever. The Company has 3.1 million warrants outstanding relating to CARES Act funding that are not included in the diluted share count in the fourth quarter and full year 2021 as the effect of their inclusion would be anti-dilutive. 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. The Company also has a $161 million current income tax receivable from its annual tax returns filed during the first quarter of 2021. Menu, Tips Words such as "expects," "will," "plans," "intends," "anticipates," "indicates," "remains," "believes," "estimates," "forecast," "guidance," "outlook," "goals," "targets" and similar expressions are intended to identify forward-looking statements. "From becoming a publicly-traded company in April, to adding more than 130 routes and nearly ten international destinations to Frontier's route network, and ordering 91 new . Reconciliation of Total Operating Expenses to Adjusted Total Operating Expenses($ in millions) (unaudited), __________________(a) See Reconciliation of Net Income (Loss) to Adjusted Net Income (Loss) above for discussion on adjusting items.Reconciliation of EBITDA to EBITDAR and EBITDA to Adjusted EBITDAR($ in millions) (unaudited), __________________(a) See Reconciliation of Net Income (Loss) to Adjusted Net Income (Loss) above for discussion on adjusting items. Contacts: Policy, Copyright 2023 Frontier (b) Amount estimated excludes fuel expense and special items, which may include loss on disposal of assets, early lease termination costs, special charges and credits, and other items which are not estimable at this time. These non-GAAP financial measures may be presented on a different basis than other companies using similarly titled non-GAAP financial measures. Privacy Policy. We offer valuable opportunities to our pilots including a. This brings the airline's total fleet count to 112 aircraft, which is 10 percent higher than the prior year. Major General Renforth wishes the Marines of the Marine Air Ground Task Force Training Command, Marine Corps Air Ground Combat Center Twentynine Palms, a happy birthday, celebrating the 246th anniversary of the founding of the Marine Corps. E99. ), please refer to Frontier's policy. (b) As a result of an early termination and buyout agreement executed in May 2021 with one of the Companys lessors, Frontier was able to accelerate the removal of the remaining four A319 aircraft from its fleet. As a result of the IPO and the resulting reclassification of warrants from liability based awards to equity based awards, as of April 6, 2021, the Company no longer uses mark to market accounting for the warrants. Bags heavier than 100 pounds or larger than 110 linear inches won't be accepted by Frontier Airlines. (c) Represents the impact of the change in value and vesting of phantom equity units pursuant to the Pilot Phantom Equity Plan. Bag Review what you'll need below: Frontier considers only hours in fixed wing/rotary aircraft as flight time towards minimum qualifications. View a map of destination cities served by Frontier Airlines and its partners. Armed with a business model that succeeds in any economic climate, Frontier is poised to double in size over the next 5 years. The following is a summary of the fourth quarter and full year 2021 select financial results, including both GAAP and adjusted (Non-GAAP) metrics. The warrants were not included in the diluted share count in the comparable prior year quarter as the share settlement was anti-dilutive. 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. We consider children from ages five to 14 to be unaccompanied minors when traveling without a companion of at least 15 years of age. 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