Frontier Airlines fourth quarter 2024 revenues totalled a record $1bn, up from $891 million a year prior.
Operating expenses totalled $957 million during the quarter, up from $894 million in the equivalent period in 2023. This included $229 million of fuel expenses at an average cost of $2.48 per gallon during the period.
Frontier posted a net income of $54 million, swinging from a net loss of $37 million a year prior. The airline’s pre-tax margin was 5.1% for the three-month period.
"Our revenue and network initiatives contributed to record fourth quarter revenue, setting us on a trajectory for significant year-over-year RASM growth in 2025 which underpins our target of achieving double-digit adjusted pre-tax margins in the summer of 2025," commented Frontier CEO Barry Biffle.
Full year revenues totalled $3.8bn, up 5% on 2023, while expenses totalled $3.7bn, up from $3.59bn. Net income was $85 million, swinging from 2023' net loss of $11 million.
For the first quarter of 2025, the company expects adjusted earnings to break even to $0.07 per share, as well as $1 per share for the full year. The company
As of December 31, 2024, the Company had commitments for an additional 187 aircraft to be delivered through 2031, including purchase commitments for 27 A320neo aircraft and 160 A321neo aircraft.
For the full year, Frontier expects pre-delivery deposits (net of refunds) to amoun to around $10 and $45 million. Other capital expenditures for the year is set to be $175-235 million.
Frontier took delivery of two spare aircraft engines and six A321neo aircraft during the fourth quarter.
As of the end of the year, Frontier had a fleet of 159 Airbus single-aisle aircraft, as scheduled below, all financed through operating leases that expire between 2025 and 2036.
Total liquidity as of December 31, 2024, was $935 million, consisting of unrestricted cash and cash equivalents of $730 million and $205 million of availability from the company's revolving credit facility.
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