Originally Posted by chinookwinds (Post 4032134)

anyone have the link for the earnings call??

Originally Posted by westcoastj (Post 4032101)

Fair point on the asset base difference. JetBlue does have unencumbered aircraft. But the framing that Frontier “doesn’t have access to liquidity” doesn’t match what just happened this quarter.

Frontier grew total liquidity by $100M while posting a GAAP loss. JetBlue raised $500M in new aircraft secured debt and may pull another $250M from their accordion if fuel volatility persists.

Who’s actually constrained here? One company is internally generating cash, the other is borrowing against assets to maintain their cushion. Both are valid strategies, but they’re not the same thing.

On the revolver point, including undrawn revolver capacity in liquidity disclosures isn’t unique to Frontier. It’s a standard non-GAAP metric used across the industry. Frontier explicitly breaks out the composition in their release. It’s transparent… not being hidden.

The asset light model is also a deliberate choice, not a weakness. Operating leases let Frontier hand 24 A320neos back to AerCap when the math stopped working… try doing that with owned aircraft on your balance sheet. Spirit owned more of their fleet than Frontier and that didn’t save them. Hawaiian owned planes. Asset ownership ≠ financial strength.

The real risk for Frontier isn’t the asset structure… it’s whether fuel stays elevated long enough to grind through the cash they have.

That’s a legitimate concern. But “they don’t have access to liquidity” doesn’t square with $100M of liquidity growth in a quarter where their direct competitor was raising debt to stay even.

Originally Posted by SmitteyB (Post 4032144)

It is absolutely a business model and conscious business decision to structure your balance sheet like that, no doubt. I’m not arguing that.

Your original comment was that at least F9 wasn’t borrowing against assets.

But it is exactly what they are doing by sale leasebacks. That’s how they are generating cash. And B6 could do the same, but it’s a decision to “kick the can down the road” so-to-speak. The cost of equipment on leased airplanes can be at much as 2x the cost of having the asset on the books.

I don’t begrudge F9 at all for including the credit facility, I was just pointing out that the revolver isn’t necessarily cash on hand as it look on the balance sheet.

Both of our companies are in interesting times, nonetheless.

Originally Posted by Stayontarget (Post 4032052)

Another 70M operational loss. Fuuuun

Originally Posted by CGLimits (Post 4032802)

I highly recommend listening to both the earnings call and the town hall. First of all at the very minimum, JD is such a breath of fresh air compared to BB.
My biggest takeaways in layman’s terms:
Had it not been for the high fuel price spike we would have at least broken even operationally in Q1, and we would have a profit in Q2, so I really think they are turning the operation around.
We are making customer service a top priority.
Our RASMs has been improving month after month, and our loyalty programs are growing fast as well.

Originally Posted by CGLimits (Post 4032802)

I highly recommend listening to both the earnings call and the town hall. First of all at the very minimum, JD is such a breath of fresh air compared to BB.
My biggest takeaways in layman’s terms:
Had it not been for the high fuel price spike we would have at least broken even operationally in Q1, and we would have a profit in Q2, so I really think they are turning the operation around.
We are making customer service a top priority.
Our RASMs has been improving month after month, and our loyalty programs are growing fast as well.

Originally Posted by Stayontarget (Post 4032890)

Always do and always more than once along with the SEC 10Q. Please refer to my post #1266 soon after.

Originally Posted by dracir1 (Post 4035152)

Last minute "employee Town Hall" today in Denver. Would've been nice had some more notice been provided beyond 1 day but given that - can someone provide a summary afterward please.


Oh yeah, and please ask about wifi, the contract, expansion into Spirit slots, first class seating, consolidation of apps/IT changes, AQP, future plans in Atlanta and network planning.

Originally Posted by VisionWings (Post 4035196)

they already answered some of these during the town hall last week.

WiFi by the end of 2027

first class starting to arrive fall 2026.

going to take whatever spirit slots they can.

no contract timeline

Atlanta is being worked on. Attempting to buy spirit gates in one area. To consolidate. Also plan on getting in house gate agents according to lotter in Atlanta.


aqp is likely to be implemented late in the fall.

there you go. As of last week this is my 98% accuracy.