Frontier Airlines first quarter net loss of $26 million, receives four A321neo from AviLease

Frontier Airlines has reported a net loss of $26 million for the first quarter, up from its net loss of $13 million in last year's first quarter. Though, its revenues were up 2% year-on-year (YoY) to $865 million. Its total operating expenses were $896 million, up from $873 million in the first quarter of last year. It ended the quarter with $622 million in unrestricted cash and cash equivalents, up $13 million from the end of last year. ""Rigorous cost and revenue management contributed to first quarter results which exceeded expectations,"" said Frontier CEO Barry Biffle. ""We expect results in the balance of the year to build on the revenue and network enhancements we're implementing, most notably the transition to underserved, high-fare markets, revenue diversification and cost savings, including benefits related to network simplification."" Frontier expects its capacity to grow 12-14% in the second quarter YoY, with adjusted total operating expenses expected to be $705-720 million. Its guidance for the fuel year has remained unchanged, except for fuel costs, which it expects to be $2.80-2.90 per gallon. The airline has also received four A321neo from aircraft lessor AviLease on May 2, 2024. The aircraft are the first out of the airline's order of six, with the remaining two scheduled to be delivered later in the year.