Frontier Group Holdings, Inc. · NASDAQ:ULCC
Frontier — Q1 2026 Earnings Presentation
14 slides from Frontier's earnings presentation, May 5, 2026
Slide 1: Frontier Airlines Reports First Quarter 2026 Financial Results
NEWS RELEASE Frontier Airlines Reports First Quarter 2026 Financial Results 2026-05-05 DENVER, May 5, 2026 /PRNewswire/ -- Frontier Group Holdings, Inc. (Nasdaq: ULCC), parent company of Frontier Airlines, Inc., today reported nancial results for the rst quarter of 2026 and issued guidance for the s
Slide 2: First Quarter 2026 Results
Adjusted RASM, stage-length adjusted to 1,000 miles, was 10.29 cents, 17 percent higher compared to the corresponding 2025 quarter and at the higher end of the guidance range Adjusted net loss was $68 million, or $0.30 per share, beating guidance ($0.32 to $0.44 loss per share) Total liquidity was $
Slide 3: Revenue and Cost Performance (adjusted non-GAAP)
per share, favorable to guidance. The tax bene t generated from the pre-tax loss during the quarter was substantially o set by a non-cash valuation allowance against deferred tax assets. The net operating losses subject to a valuation allowance generally do not expire and may be used to o set future
Slide 4: Forward Guidance
Equipment Quantity Seats A320neo 94 186 A320ceo 6 180 - 186 A321ceo 21 230 A321neo 62 240 Total fleet 183 Frontier took delivery of ve A320neo aircraft and two A321neo aircraft during the rst quarter of 2026. The Company expects to take delivery of seven A320 family aircraft in the second quarter 20
Slide 5: Conference Call About Frontier Airlines
Second Quarter 2026 Adjusted (non-GAAP) diluted loss per share(a)(b)(c)(d) $(0.45) to $(0.60) Capacity growth (compared to 2Q 2025)(e) 6 to 8 percent Full Year 2026 Pre-delivery deposits, net of refunds ($ millions)(f) $(170) to $(210) Other capital expenditures ($ millions)(g) $170 to $220 ________
Slide 6: Cautionary Statement Regarding Forward-Looking Statements and Information
End Notes 1 Industry average weighted by ASMs in FY2025 to include DAL, UAL, AAL, LUV, JBLU, ALK, and ALGT. Fuel e ciency is measured by ASMs per fuel gallon consumed. Cautionary Statement Regarding Forward-Looking Statements and Information Certain statements in this release should be considered fo
Slide 7: Forward-looking statements risk factors
adverse publicity and/or harm to the Company's brand or reputation; reduced travel demand and potential tort liability as a result of an accident, catastrophe or incident involving the Company, its codeshare partners or another airline; terrorist attacks, international hostilities or other security
Slide 8: Condensed Statements of Operations
Operating expenses: Aircraft fuel 268 238 13 % Salaries, wages and benefits 271 249 9% Aircraft rent 265 161 65 % Station operations 192 180 7% Maintenance, materials and repairs 142 51 178 % Sales and marketing 43 41 5% Depreciation and amortization 62 20 210 % Other operating 32 18 78 % Total oper
Slide 9: Reconciliations of Non-GAAP Financial Information
Total revenue per available seat mile ("RASM") (¢) 10.11 9.17 10 % RASM, stage-length adjusted to 1,000 miles (¢)(c) 9.59 8.81 9% Adjusted fare revenue per passenger ($)(b) 55.45 44.61 24 % Adjusted non-fare passenger revenue per passenger ($)(b) 67.71 68.15 (1) % Adjusted other revenue per passenge
Slide 10: Adjusted net income (loss)
Adjusted net income (loss)(c) $ (68) $ (43) Income (loss) before income taxes, as reported $ (281) $ (40) Pre-tax impact 212 — Adjusted income (loss) before income taxes(c) $ (69) $ (40) ____________________ (a) The Company received a court ruling relating to the remittance of TSA fees for unused tr
Slide 11: Adjusted EBITDAR
Minus: Early Return Agreement(e) (29) — Adjusted EBITDAR(b) $ 190 $ 135 __________________ (a) EBITDA and adjusted EBITDA are included as supplemental disclosures because the Company believes they are useful indicators of its operating performance. Derivations of EBITDA are well-recognized performan
Slide 12: Adjusted CASM
Adjusted CASM(e) 11.58 9.63 Net interest expense (income) (2) (0.02) (6) (0.07) Adjusted CASM + net interest(f) 11.56 9.56 CASM 13.00 9.63 Net interest expense (income) (2) (0.02) (6) (0.07) CASM + net interest(f) 12.98 9.56 _______________________ (a) Revenue and cost per ASM figures may not recalc
Slide 13: Adjusted ancillary revenue
Ancillary revenue: 543 65.24 562 71.72 TSA Reserve 60 7.26 — — Adjusted ancillary revenue: (c) 603 72.50 562 71.72 Total revenue: 992 119.17 912 116.33 TSA Reserve 73 8.78 — — Adjusted total revenue:(c) 1,065 127.95 912 116.33 _______________________ (a) Revenue per passenger figures may not recalcu
Slide 14: Reconciliation of Total Operating Expenses
Reconciliation of Total Operating Expenses to Total Operating Expenses (excluding fuel), Adjusted Total Operating Expenses and Adjusted Total Operating Expenses (excluding fuel) ($ in millions) (unaudited) Three Months Ended March 31, 2026 2025 Total operating expense, as reported(a) $ 1,275 $ 958 E
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