Fourth Quarter 2022 Highlights
02-08-2023 | 12:23 PM
#1
Thread Starter
Gets Weekends Off
Joined: Nov 2012
Posts: 3,765
Likes: 115
From: 1900D CA
Fourth Quarter 2022 Highlights
TL,DR: Frontier made $50 Million and has more than $750 Million in cash in the bank
Frontier Airlines, Inc., today reported profitable results for the fourth quarter of 2022 on strong revenue performance, including record ancillary revenue per passenger, and an improvement in unit costs.
Fourth Quarter 2022 Highlights
Frontier Airlines, Inc., today reported profitable results for the fourth quarter of 2022 on strong revenue performance, including record ancillary revenue per passenger, and an improvement in unit costs.
Fourth Quarter 2022 Highlights
- Achieved total operating revenues of $906 million, 38 percent higher than the 2019 quarter on 15 percent higher capacity resulting in a 21 percent increase in revenue per available seat mile ("RASM") over the same period
- Generated record ancillary revenue of $82 per passenger, 41 percent higher than the 2019 quarter and five percent higher than the prior quarter
- Since exiting the pandemic, realized the lowest cost per available seat mile ("CASM") of 9.93 cents, CASM (excluding fuel), a non-GAAP measure, of 6.43 cents, and adjusted (non-GAAP) CASM (excluding fuel) of 6.40 cents
- Realized a pre-tax margin of 5.5 percent and an adjusted (non-GAAP) pre-tax margin of 5.7 percent
- Ended the quarter in a strong liquidity position with $761 million of unrestricted cash and cash equivalents, or $332 million net of total debt
- Took delivery of two A320neo and three A321neo aircraft during the fourth quarter, increasing the proportion of the fleet comprised of the more fuel-efficient A320neo family aircraft to 72 percent as of December 31, 2022, among the highest of all major U.S. carriers
- Generated 103 available seat miles ("ASM") per gallon, making Frontier the most fuel efficient of all major U.S. carriers and affirming its ongoing commitment to being "America's Greenest Airline"
- Expanded service in 16 domestic markets, including six new routes from Phoenix Sky Harbor International Airport to coincide with the November 2022 opening there of a crew base, and six international markets
- Announced new Dallas-Fort Worth crew base expected to open in May 2023 along with five new routes
- Launched GoWild All-You-Can-Fly Pass, providing passengers an opportunity for an unlimited number of flights to all Frontier domestic and international destinations
02-08-2023 | 12:29 PM
#2
Line Holder
Joined: Aug 2007
Posts: 692
Likes: 2
So we are 1/7 the size of United and made 1/16 of their profit in Q4. We had a pre-tax margin of 5.5% versus United at 9.1%. And that’s with record ancillary revenue. Another underwhelming quarter for the “recession proof” model. I’m officially done listening to un-informed pilots gloat about how we have the “highest margins in the industry”. Total BS
02-08-2023 | 01:11 PM
#5
Line Holder
Joined: Feb 2014
Posts: 592
Likes: 3
So we are 1/7 the size of United and made 1/16 of their profit in Q4. We had a pre-tax margin of 5.5% versus United at 9.1%. And that’s with record ancillary revenue. Another underwhelming quarter for the “recession proof” model. I’m officially done listening to un-informed pilots gloat about how we have the “highest margins in the industry”. Total BS
02-08-2023 | 01:20 PM
#8
Line Holder
Joined: Aug 2007
Posts: 692
Likes: 2
Sure. And that’s great. They also have substantially higher costs in order to provide those products. The whole mantra of ULCCs is that they are financially superior, resilient and outperform on margin, especially in difficult economic times. You would think 8% inflation would drive more demand to ULCC.
02-08-2023 | 01:33 PM
#10
Almost there
Joined: Apr 2021
Posts: 2,012
Likes: 144
Sure. And that’s great. They also have substantially higher costs in order to provide those products. The whole mantra of ULCCs is that they are financially superior, resilient and outperform on margin, especially in difficult economic times. You would think 8% inflation would drive more demand to ULCC.
Thread
Thread Starter
Forum
Replies
Last Post
