Frontier Airlines financial results 2026: revenue, RASM, CASM ex-fuel & fleet

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Company-reported performance, unit economics, balance-sheet and fleet metrics from FY2022 to the latest published period. Metrics are in the same order as the Airline Comparison tool.

— metrics in this profile FY2022 → Q2 2026 Updated — Next results —

At a glance

Latest reported period

Metrics

Full-year history

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RReportedDirect company disclosure CCalculatedDerived from company figures GGroup-levelBroader than the airline entity DCompany-definedNon-standard measure —Missing dataNot stored, not disclosed or not applicable; see each cell

Analysis

What the numbers say

More detail

Additional disclosures

Guidance vs actual

Did the airline deliver?

What management guided at the start of each financial year compared with what was reported. Within the guided range = met; for cost metrics, below the range = beat.

Fleet & orders

Fleet composition

Key events

What moved the numbers

Peers

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FAQ

Frequently asked questions

Methodology

How to read this page

Every figure keeps the company’s own reporting period, currency, entity scope and terminology. Partial periods are not annualised, currencies are not converted and missing KPIs are not estimated. Core metrics follow the Airline comparison tool.

  1. Fiscal years are labelled by the calendar year in which they end (a year to 31 Mar 2025 appears as FY2025). The exact period end is shown in the first row, with a link to the source document.
  2. Quarters follow the company’s reporting calendar; the company’s own label is noted beneath the period.
  3. YoY change compares with the same period one year earlier: % change for amounts, percentage points (pp) for ratios. Green means favourable (for costs, a fall is favourable). n.m. = not meaningful.
  4. Operating margin uses operating profit or EBIT ÷ revenue. EBITDA, EBITDAR and their margins are separate disclosures and are not substitutes for operating profit or margin. Company-defined measures keep their source labels (marked D).
  5. Sources: annual reports, interim results and traffic statements. See Data & Research.

Quick answers

Is Frontier Airlines profitable?

No, not in its latest full year. Frontier Airlines reported an operating loss of $149m in FY2025 (year to 31 Dec 2025), a −4.0% margin. In its latest reported period, it reported an operating loss of $108m in Q3 2026 (to 30 Sep 2026), a −8.0% margin.

What was Frontier Airlines’s revenue in 2025?

Frontier Airlines reported revenue of $3.724bn in FY2025 (year to 31 Dec 2025). For Q3 2026 (to 30 Sep 2026) it reported revenue of $1.355bn.

Company-reported figures from our airline database. Definitions, currencies and reporting periods differ between airlines; see the tables on this page and the comparison tool for detail.

Text version of the Frontier Airlines data on this page

Frontier Airlines data snapshot

  • Scope: Frontier Group Holdings, Inc.
  • Region: North America
  • Business model: Ultra low cost
  • Financial year end: 31 Dec
  • Reporting currency: USD
  • Source: SEC earnings releases
  • Latest period: Q2 2026
  • Last updated: 2026-09-27

Latest read

Frontier grew Q2 2026 revenue 38% to a record $1.28 billion as RASM jumped 28%, in the quarter in which Spirit Airlines ceased operations, but fuel at $4.17 a gallon, up 77%, left a $97 million operating loss. Adjusted for special items the pre-tax loss narrowed to $24 million from $70 million, and management guides to breakeven or better in the second half.

Reported metrics by period

Annual results

  • FY2025 (FY2025 · 31 Dec 2025): Passengers: 33.2m (Flat YoY); Revenue: $3.724bn (−1% YoY); Operating profit / result: −$149m op. (Operating loss); Operating margin: −4.0% (Operating loss ÷ revenue) [Calculated]; Load factor: 78.4% (+1.6pt YoY); Net profit: −$137m (Net loss); Profit before tax: −$134m (GAAP and adjusted); Capacity / ASK: 39.8bn ASM (Flat YoY); RASK / yield: 9.37¢ RASM (−1% YoY); CASK ex-fuel: 7.41¢ adj. CASM ex-fuel (+9% YoY) [Defined]; Fuel cost: $2.47/gal (−10% YoY); Cash / liquidity: $874m (Total liquidity); Fleet size: 176 (Year end, +17 aircraft). Source: Frontier Q4 2025 results.
  • FY2024 (FY2024 · 31 Dec 2024): Passengers: 33.3m (Annual); Revenue: $3.775bn (Record total operating revenues); Operating profit / result: $58m op. (Operating income); Operating margin: 1.5% (Operating income ÷ revenue) [Calculated]; Load factor: 76.8% (Annual); Net profit: $85m (Net income); Profit before tax: $86m (GAAP; adjusted $49m); Capacity / ASK: 39.9bn ASM (Annual); RASK / yield: 9.47¢ RASM (Annual); CASK ex-fuel: 6.81¢ adj. CASM ex-fuel (Company non-GAAP measure) [Defined]; Fuel cost: $2.73/gal (Fuel cost per gallon); Fleet size: 159 (Year end). Source: Frontier Q4 2025 results (2024 comparatives).
  • FY2023 (FY2023 · 31 Dec 2023): Passengers: 30.2m (+19% YoY); Revenue: $3.589bn (+8% YoY); Operating profit / result: −$3m op. (Operating loss); Operating margin: −0.1% (Operating loss ÷ revenue) [Calculated]; Load factor: 81.4% (Annual); Net profit: −$11m (Net loss); Profit before tax: $32m (GAAP; adjusted $34m); Capacity / ASK: 37.8bn ASM (+19% YoY); RASK / yield: 9.49¢ RASM (−9% YoY); CASK ex-fuel: 6.50¢ adj. CASM ex-fuel (−6% YoY) [Defined]; Fuel cost: $3.10/gal (Fuel cost per gallon); Cash / liquidity: $609m (Unrestricted cash); Fleet size: 136 (8 A320ceo, 82 A320neo, 21 A321ceo, 25 A321neo). Source: Frontier Q4 2023 results.
  • FY2022 (FY2022 · 31 Dec 2022): Passengers: 25.5m (Annual); Revenue: $3.326bn (Total operating revenues); Operating profit / result: −$45m op. (Operating loss); Operating margin: −1.4% (Operating loss ÷ revenue) [Calculated]; Load factor: 80.9% (Annual); Net profit: −$37m (Net loss); Profit before tax: −$45m (GAAP; adjusted −$19m); Capacity / ASK: 31.7bn ASM (Annual); RASK / yield: 10.48¢ RASM (Annual); CASK ex-fuel: 6.90¢ adj. CASM ex-fuel (Company non-GAAP measure) [Defined]; Fuel cost: $3.72/gal (Fuel cost per gallon); Fleet size: 120 (Year end). Source: Frontier Q4 2023 results (2022 comparatives).

Quarterly and interim results

  • Q2 2026 (Q2 2026 · 30 Jun 2026): Passengers: 9.7m (+14% YoY); Revenue: $1.279bn (Record; +38% YoY); Operating profit / result: −$97m op. (Operating loss); Operating margin: −7.6% (Operating loss ÷ revenue) [Calculated]; Load factor: 80.3% (+1.0pt YoY); Net profit: −$90m (GAAP; adjusted −$22m); Profit before tax: −$94m (GAAP; adjusted −$24m); Capacity / ASK: 11.1bn ASM (+8% YoY); Revenue passenger km (RPK): 8.9bn RPM (+9% YoY); RASK / yield: 11.52¢ RASM (+28% YoY); CASK ex-fuel: 7.84¢ adj. CASM ex-fuel (+5% YoY) [Defined]; Total CASK: 12.39¢ CASM (+27% YoY; adjusted 11.77¢); Fuel cost: $436m ($4.17/gal, +77% YoY); Passenger revenue: $1.235bn (Passenger revenue; $131.46 total revenue per passenger); Cash / liquidity: $1.16bn (Total liquidity incl. revolver; 27% of TTM revenue); Net debt / cash / leverage: All-operating-lease fleet (No total debt figure in release) [Defined]; Fleet size: 165 (72 A320neo, 66 A321neo, 21 A321ceo, 6 A320ceo); Fleet growth / guidance: +17% to +18% ASM (Q3 2026 guidance) [Defined]. Source: Frontier Q2 2026 results.
  • Q1 2026 (Q1 2026 · 31 Mar 2026): Passengers: 8.3m (H1 2026 less Q2) [Calculated]; Revenue: $992m (H1 2026 less Q2) [Calculated]; Operating profit / result: −$283m op. (H1 2026 less Q2; includes special items) [Calculated]; Operating margin: −28.5% (Operating loss ÷ revenue) [Calculated]; Net profit: −$272m (H1 2026 less Q2) [Calculated]; Capacity / ASK: 9.8bn ASM (H1 2026 less Q2) [Calculated].
  • Q4 2025 (Q4 2025 · 31 Dec 2025): Passengers: 8.5m (Flat YoY); Revenue: $997m (Flat YoY); Operating profit / result: $49m op. (+9% YoY); Operating margin: 4.9% (Operating income ÷ revenue) [Calculated]; Load factor: 78.9% (+0.6pt YoY); Net profit: $53m (Net income); Capacity / ASK: 9.8bn ASM (Flat YoY); RASK / yield: 10.17¢ RASM (−1% YoY); CASK ex-fuel: 7.36¢ adj. CASM ex-fuel (−1% YoY) [Defined]. Source: Frontier Q4 2025 results.
  • Q3 2025 (Q3 2025 · 30 Sep 2025): Passengers: 8.3m (FY2025 less Q1, Q2 and Q4) [Calculated]; Revenue: $886m (FY2025 less Q1, Q2 and Q4) [Calculated]; Operating profit / result: −$77m op. (FY2025 less Q1, Q2 and Q4) [Calculated]; Operating margin: −8.7% (Operating loss ÷ revenue) [Calculated]; Net profit: −$77m (FY2025 less Q1, Q2 and Q4) [Calculated].
  • Q2 2025 (Q2 2025 · 30 Jun 2025): Passengers: 8.5m (Quarter); Revenue: $929m (Quarter); Operating profit / result: −$75m op. (Operating loss); Operating margin: −8.1% (Operating loss ÷ revenue) [Calculated]; Load factor: 79.3% (Quarter); Net profit: −$70m (Net loss); Capacity / ASK: 10.3bn ASM (Quarter); RASK / yield: 9.01¢ RASM (Quarter); CASK ex-fuel: 7.50¢ adj. CASM ex-fuel (Company non-GAAP measure) [Defined]. Source: Frontier Q2 2026 results (comparatives).

Sources