Frontier Group Holdings, Inc. (ULCC) Earnings Call Transcripts

Frontier Group Holdings, Inc.'s Latest Earnings Call - Q1 FY2026

In Q1 2026, Frontier Group Holdings reported record adjusted revenue of nearly $1.1 billion, driven by a 17% year-over-year increase in stage-adjusted RASM, despite facing higher fuel costs. The adjusted net loss was $68 million, translating to an adjusted loss per share of $0.30, which was better than guidance. Management anticipates a significant RASM increase of over 20% year-over-year in Q2, supported by the exit of Spirit Airlines, which is expected to provide a 3% to 5% uplift in RASM going forward. Frontier's liquidity remains strong, projected to be between $900 million and $950 million at the end of Q2 2026.

Reported metrics

Guidance from management

Management expects RASM to increase by over 20% year-over-year in Q2 and anticipates liquidity to be between $900 million and $950 million at the end of Q2. They have maintained their focus on cost discipline and profitability despite fuel price volatility.

What management said

Yes. Savi, it's Jimmy here. Yes. Look, the 3% to 5% RASM uplift is linked to historical trends that we've seen structural change on Spirit's network where either we had existing capacity or replace capacity that they walked away from. And so that's effectively a run rate RASM uplift. We think it's approximately 3% to 5%. We actually think it could be higher than that going forward. What's in the guide, we estimate, ...

Yes. So Savi, we have 24 aircraft for this year, and we have 6 for next year. And one of the things that I want to highlight, we have -- as part of the fleet, the last 5 deliveries of this year and the first 6 of next year, we have an agreement in principle to sell those aircraft without a corresponding leaseback agreement. And so as you think about the fleet, while there will be 24 inductions, you will end the year ...

What analysts pressed on

Analysts expressed concerns regarding the sustainability of demand at current fare levels amid rising fuel prices. There were questions about how Frontier plans to manage capacity and pricing in a potentially volatile environment, especially with competitors potentially backfilling Spirit's routes.

Main topics on the call

• Record Revenue and RASM Growth — Frontier achieved a record adjusted revenue of nearly $1.1 billion, with stage-adjusted RASM up 17% year-over-year. Management noted, "This performance drove an EPS guidance beat despite sharply higher fuel prices."
• Impact of Spirit Airlines Shutdown — The exit of Spirit Airlines is expected to alter the competitive landscape significantly, providing Frontier with opportunities to capture market share. Management stated, "We think it's approximately 3% to 5% RASM uplif...
• Fleet Rightsizing Progress — Frontier has executed 69 aircraft deferrals and 24 lease terminations, with all 24 aircraft expected to leave by early June. This is part of a strategy to achieve $200 million in annual cost savings by 2027.
• Operational Improvements — Management highlighted improvements in operational reliability, ranking fourth among major domestic carriers in completion factor. They are focused on enhancing maintenance planning and reducing aircraft out-of-service e...

Read the full Frontier Group Holdings, Inc. transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 33 Frontier Group Holdings, Inc. earnings call transcripts on record, spanning May 13, 2021 to July 29, 2026. Based on this history, Frontier Group Holdings, Inc. reports quarterly. The most recent call on file is dated July 29, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

ULCC

Exchange

NasdaqGS

Country

US

Sector

Industrials

Industry

Passenger Airlines

Calls on record

33

First call

May 13, 2021

Most recent

July 29, 2026

Reporting cadence

quarterly