Frontier Group
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Frontier Group (ULCC) investor relations material

Frontier Group Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for Frontier Group Holdings Inc
Q4 2025 earnings summary11 Feb, 2026

Executive summary

  • New CEO outlined a four-priority strategy: rightsizing the fleet, cost discipline, operational reliability, and customer loyalty to restore sustained profitability.

  • Fourth quarter 2025 revenue reached $997 million, with capacity flat year-over-year and net income of $53 million, or $0.23 per diluted share.

  • Full-year 2025 saw total revenue of $3.72 billion and a net loss of $137 million, or $(0.60) per diluted share, compared to a profit in 2024.

  • Entered non-binding agreements to terminate 24 aircraft leases, return 24 A320neo aircraft early, and revise Airbus delivery schedule, moderating growth to ~10% annually.

  • Launched 23 new routes in early 2026 and 57 in late 2025/early 2026, reinforcing network expansion.

Financial highlights

  • Targeting $200 million in annual run-rate cost savings by 2027, including $90 million in rent savings from lease terminations.

  • Q4 2025 RASM was 10.17¢, trending over 10% higher year-over-year, with strong early booking trends.

  • Q4 pre-tax income was $52 million (5.2% margin); full-year pre-tax loss was $134 million (-3.6% margin).

  • Loyalty revenue grew over 30% in Q4, marking the third consecutive quarter of double-digit growth.

  • Total liquidity at year-end was $874 million, representing 23% of trailing twelve-month revenue.

Outlook and guidance

  • 2025 is a transition year, with guidance reflecting timing of productivity and cost savings.

  • Q1 2026 adjusted diluted EPS guidance: $(0.26) to $(0.44); full-year 2026: $(0.40) to $0.50.

  • Capacity growth expected at ~10% for 2026; RASM in Q1 2026 projected to be over 10% higher year-over-year.

  • Unit costs expected to be higher in Q1 2026 due to fleet growth and lower utilization, but to ease as cost savings materialize.

  • Guidance range incorporates one-time non-cash expenses from lease terminations, which will be excluded from adjusted results.

Breakdown of $200M annual cost savings by 2027
What drives 2026 profitability beyond Q1?
How does 10% growth support top 20 US metros goal?
What drives the $110M cost savings beyond rent?
Key enablers for 11.5 hr utilization by 2027?
How will new loyalty investments drive revenue?
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Barclays 43rd Annual Industrial Select Conference17 Feb, 2026
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Frequently asked questions

Frontier Group Holdings Inc. is an airline holding company that operates Frontier Airlines, a low-cost carrier providing domestic and international air travel. The airline focuses on offering affordable fares with an unbundled pricing model, allowing passengers to customize their travel experience with optional services such as baggage, seat selection, and in-flight amenities. Frontier Airlines primarily serves leisure and price-sensitive travelers, operating a fleet of fuel-efficient aircraft on point-to-point routes across North America, the Caribbean, and Latin America. The company is headquartered in Denver, Colorado, and its shares are listed on the NASDAQ.

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