This was ten percent higher than the comparable 2019 quarter. In accordance with the amended and restated phantom equity agreement, the remaining phantom equity obligation became fixed as of December 31, 2019 and is no longer subject to valuation adjustments. Repaid the $150 million Treasury Loan in February 2022. Fernando, the sales director, and Carlos, our butler for our stay, greeted us at the club. San Juan, PR - Raleigh, NC. As 2022 begins, Frontier Airlines continues to grow and deliver on the mission of providing affordable travel across the United States. Adjusted CASM including net interest is not determined in accordance with GAAP, may not be comparable across all carriers and should not be considered in isolation or as a substitute for performance measures calculated in accordance with GAAP. Frontier Airlines (NASDAQ: ULCC) is committed to Low Fares Done Right. Headquartered in Denver, Colorado, the Company operates more than 100 A320 family aircraft and has the largest A320neo fleet in the U.S. Please contact our. Unaccompanied minors may travel on any Frontier nonstop flight, including international flights. Frontier was profitable in the third quarter on a GAAP basis, recognizing $23 million of net income. (a) Due to the significant reduction in demand resulting from the COVID-19 pandemic, future anticipated consumption of fuel dropped significantly and the Company therefore de-designated hedge accounting in March 2020 on the derivative positions where the future consumption was not deemed probable, which primarily related to the written put options on costless collars. We will provide you with an escort pass to get to the gate. Save 99% Off w/ Discount Code. We offer valuable opportunities to our pilots including a. Additionally, forward-looking statements include statements that do not relate solely to historical facts, such as statements which identify uncertainties or trends, discuss the possible future effects of current known trends or uncertainties, or which indicate that the future effects of known trends or uncertainties cannot be predicted, guaranteed or assured. Frontier Airlines Coupons & Promo Codes Submit a Coupon Save with 7 Frontier Airlines Offers. On an Adjusted CASM (excluding fuel) basis, operating expenses were 6.50 cents during the quarter compared to 5.21 cents in the fourth quarter of 2019 and 6.55 cents during the third quarter of 2021, reflecting continued cost discipline while managing lower utilization. During February 2022, the Company repaid the $150 million outstanding under the Treasury Loan. In accordance with the amended and restated phantom equity agreement, the remaining phantom equity obligation became fixed as of December 31, 2019 and is no longer subject to valuation adjustments. BOOK YOUR FLIGHT TODAY! Reconciliation of Non-GAAP Financial Information. __________________(a) Cost per ASM figures may not recalculate due to rounding(b) See Reconciliation of Net Income (Loss) to Adjusted Net Income (Loss) above for discussion on adjusting items. (d) Other capital expenditures estimate includes capitalized heavy maintenance. Actual results could differ materially from these forward-looking statements due to numerous factors including, without limitation, the following: the adverse impacts of the ongoing COVID-19 pandemic, including the most recent Delta and Omicron variants and any other future variants of the virus, and possible outbreaks of another disease or similar public health threat in the future, on the Companys business, operating results, financial condition, liquidity and near-term and long-term strategic operating plan, including possible additional adverse impacts resulting from the duration and spread of the pandemic; risks related to the proposed business combination with Spirit Airlines, Inc. as detailed in the separate filing on Form 8-K made on the date hereof; unfavorable economic and political conditions in the states where the Company operates and globally; the highly competitive nature of the global airline industry and susceptibility of the industry to price discounting and changes in capacity; high and/or volatile fuel prices or significant disruptions in the supply of aircraft fuel; the Company's reliance on technology and automated systems to operate its business and the impact of any significant failure or disruption of, or failure to effectively integrate and implement, the technology or systems; the Companys reliance on third-party service providers and the impact of any failure of these parties to perform as expected, or interruptions in the Company's relationships with these providers or their provision of services; adverse publicity and/or harm to the Company's brand or reputation; reduced travel demand and potential tort liability as a result of an accident, catastrophe or incident involving the Company, its codeshare partners, or another airline; terrorist attacks, international hostilities or other security events, or the fear of terrorist attacks or hostilities, even if not made directly on the airline industry; increasing privacy and data security obligations or a significant data breach; further changes to the airline industry with respect to alliances and joint business arrangements or due to consolidations; changes in the Company's network strategy or other factors outside its control resulting in less economic aircraft orders, costs related to modification or termination of aircraft orders or entry into less favorable aircraft orders; the Company's reliance on single suppliers to source a majority of its aircraft and certain parts, and the impact of any failure to obtain timely deliveries, additional equipment or support from any of these suppliers; the impacts of union disputes, employee strikes or slowdowns, and other labor-related disruptions on the Company's operations; extended interruptions or disruptions in service at major airports where the Company operates; the impacts of seasonality and other factors associated with the airline industry; the Company's failure to realize the full value of its intangible assets or its long-lived assets, causing the Company to record impairments; the costs of compliance with extensive government regulation of the airline industry; costs, liabilities and risks associated with environmental regulation and climate change; the Company's inability to accept or integrate new aircraft into the Company's fleet as planned; the impacts of the Company's significant amount of financial leverage from fixed obligations; the possibility the Company may seek material amounts of additional financial liquidity in the short-term and the impacts of insufficient liquidity on the Company's financial condition and business; failure to comply with the covenants in the Company's financing agreements or failure to comply with financial and other covenants governing the Company's other debt; changes in, or failure to retain, the Company's senior management team or other key employees; current or future litigation and regulatory actions, or failure to comply with the terms of any settlement, order or arrangement relating to these actions; increases in insurance costs or inadequate insurance coverage; and other risks and uncertainties set forth from time to time under the sections captioned "Risk Factors" in the Company's reports and other documents filed with the Securities and Exchange Commission (the SEC), including the Companys Quarterly Report on Form 10-Q for the quarter ended September 30, 2021. 6053 rd 1006 th United States. Please see Reconciliation of Non-GAAP Financial Information on page 8 below. The non-GAAP financial information is included to provide supplemental disclosures because the Company believes they are useful additional indicators of, among other things, its operating and cost performance. Join the Frontier family as a pilot of one of the fastest-growing airlines. Frontier Airlines Reports Financial Results for the Third Quarter of 2021, Adjusted total operating expenses (excluding fuel) ($ millions), Pre-delivery deposits, net of refunds year over year change ($ millions), Average daily aircraft utilization (hours), Revenue passenger miles (RPMs) (millions), Non-fare passenger revenue per passenger($), Total revenue per available seat mile (RASM)(), Derivative de-designation and mark-to-market adjustment, Collective bargaining contract ratification, Cares Act grant amortization and employee retention credits, Write-off of deferred registration statement costs due to significant market uncertainty, CARES Act mark-to-market impact for warrants, Tax benefit (expense) related to non-GAAP adjustments, Cares Act grant recognition and employee retention credits, Derivative de-designation and mark to market adjustment, CARES Act mark to market impact for warrants. Capacity during the fourth quarter of 2021 demonstrated resilience at 7,836 million ASMs, which was approximately four percent higher than the capacity achieved in the fourth quarter of 2019. Frontier opened three new stations during the third quarter of 2021 and operated an average of over 435 flights per day, which was eight percent higher than the comparable pre-COVID quarter in 2019. Europe is more fun with a Portugal Stopover. The Company generated $63 of ancillary revenue per passenger during the quarter. Prices, California And, bring your own snacks to avoid additional contact. Adjusted CASM including net interest is included as a supplemental disclosure because the Company believes it is a useful metric to properly compare its cost management and performance to other peers that may have different capital structures and financing strategies particularly as it relates to financing primary operating assets such as aircraft and engines. 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