Frontier Group Holdings, Inc.

Listed Company

ULCCCIK 0001670076NasdaqAcceleratedAir Transportation, ScheduledDelawareFY ends Dec 31

Period

FY 2025

Revenue

$3.72B

Net Income

$-137.00M

Total Assets

$7.22B

Equity

$491.00M

Shares Out

229.61M

Op. Cash Flow

$-525.00M

Business

Frontier Group Holdings, Inc. is the parent of Frontier Airlines, an ultra low‑cost carrier providing scheduled passenger air transportation under a Low Fares Done Right strategy. It offers low base fares plus ancillary services such as baggage, seat selection, extended‑legroom and premium seating, bundled options, in‑flight sales, the FRONTIER Miles program, Discount Den and GoWild! memberships. Key segments include passenger flight operations, loyalty and membership programs, distribution and maintenance/technical operations. It serves U.S. routes and select destinations in the Americas, selling mainly via its website, mobile app and contact centers.

Summary from filing dated 2025-02-18

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total operating revenues	3,724	3,775	3,589	3,326	2,060
Aircraft fuel	929	1,041	1,130	1,160	575
Salaries, wages and benefits	1,016	954	858	715	616
Aircraft rent	748	675	554	556	530
Station operations	717	637	516	422	384
Maintenance, materials and repairs	209	209	179	146	119
Sales and marketing	159	178	164	164	109
Depreciation and amortization	91	72	50	45	38
Other operating	4	−49	141	153	—
Total operating expenses	3,873	3,717	3,592	3,371	2,177
Operating income (loss)	−149	58	−3	−45	−117
Interest expense	−46	−36	−29	−21	—
Capitalized interest	35	32	28	11	4
Interest income and other	26	32	36	10	2
Total other income (expense)	15	28	35	0	−27
Income (loss) before income taxes	−134	86	32	−45	−144
Income tax expense (benefit)	3	1	43	−8	−42
Net income (loss)	−137	85	−11	−37	−102
Basic (in dollars per share)	−0.6	0.37	−0.05	−0.17	−0.48
Diluted (in dollars per share)	−0.6	0.37	−0.05	−0.17	−0.48

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	671	740	609	761	918
Accounts receivable, net	85	73	93	90	50
Supplies, net	90	79	79	55	29
Other current assets	112	98	90	114	40
Total current assets	958	990	871	1,020	1,037
Property and equipment, net	510	376	309	226	186
Operating lease right-of-use assets	4,806	3,930	2,964	2,484	2,426
Pre-delivery deposits for flight equipment	428	404	407	371	260
Intangible assets, net	27	27	28	28	29
Other assets	491	426	330	265	199
Total assets	7,220	6,153	4,993	4,499	4,235
Accounts payable	130	115	134	89	86
Air traffic liability	352	294	253	313	273
Frequent flyer liability	16	18	10	13	13
Current maturities of long-term debt, net	301	261	251	157	127
Current maturities of operating leases	779	664	549	465	444
Other current liabilities	525	500	461	518	383
Total current liabilities	2,103	1,852	1,658	1,555	1,326
Long-term debt, net	313	241	219	272	287
Long-term operating leases	4,070	3,302	2,440	2,034	1,991
Long-term frequent flyer liability	44	31	35	32	41
Other long-term liabilities	199	123	134	97	60
Total liabilities	6,729	5,549	4,486	3,990	3,705
Commitments and contingencies	—	—	—	—	—
Common stock, $0.001 par value per share, with 229,010,827 and 225,440,496 shares issued and outstanding as of December 31, 2025 and 2024, respectively	0	0	0	0	0
Additional paid-in capital	437	414	403	393	381
Retained earnings	59	196	111	122	159
Accumulated other comprehensive income (loss)	−5	−6	−7	−6	−10
Total stockholders equity	491	604	507	509	530
Total liabilities and stockholders equity	7,220	6,153	4,993	4,499	4,235

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Deferred income taxes	3	0	43	−8	−32
Gains recognized on sale-leaseback transactions	−302	−294	−147	−87	−60
Loss on extinguishment of debt	0	1	0	7	0
Stock-based compensation	21	16	14	15	11
Amortization of cash flow hedges, net of tax	1	1	1	1	1
Accounts receivable, net	−12	22	33	−28	−14
Supplies and other current assets	11	20	−7	−40	174
Aircraft maintenance deposits	0	82	−16	−18	−20
Other long-term assets	−257	−190	−163	−94	−37
Accounts payable	−1	−15	47	−4	13
Air traffic liability	58	41	−60	40	138
Other liabilities	−1	77	−45	130	84
Cash used in operating activities	−525	−82	−261	−78	216
Capital expenditures	−75	−76	−51	−41	−27
Pre-delivery deposits for flight equipment, net of refunds	−24	3	−36	−111	−36
Other	0	−2	−3	−2	−4
Cash used in investing activities	−99	−75	−90	−154	−67
Proceeds from issuance of debt, net of issuance costs	492	476	171	273	163
Principal repayments on debt	−380	−447	−131	−266	−97
Proceeds from sale-leaseback transactions, net	441	264	163	71	59
Proceeds from the exercise of stock options	6	1	1	1	3
Tax withholdings on share-based awards	−4	−6	−5	−4	−3
Cash provided by financing activities	555	288	199	75	391
Net increase (decrease) in cash, cash equivalents and restricted cash	−69	131	−152	−157	540

Filings

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