ULCC on Nasdaq

Frontier Airlines

Logo: Frontier Airlines, Public domain, via Wikimedia Commons4

American ultra-low-cost airline

Frontier Airlines, Inc., is an American ultra-low-cost airline headquartered in Denver, Colorado. It operates flights to over 120 destinations in the United States, the Caribbean, Mexico and Central America, and employs more than 5,000 staff. The carrier is a publicly traded company and maintains operating bases in 13 cities across the contiguous United States and Puerto Rico.3 It is part of Republic Airways Holdings.1 Its shares trade on Nasdaq under the symbol ULCC.1 Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

1994Founded1

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  • TickerULCC on Nasdaq1
  • IndustryAir Transportation, Scheduled1
  • HeadquartersDenver1
  • Websitewww.flyfrontier.com
  • Incorporated inDE5
  • Business address4545 Airport Way, Denver, Co 802395
  • Filer categoryAccelerated filer5
Cookie The Oriole (N359FR)
Photo: Russell Sekeet, CC BY 2.0, via Wikimedia Commons8

Frontier Airlines, Inc., is an American ultra-low-cost airline headquartered in Denver, Colorado. It operates flights to over 120 destinations in the United States, the Caribbean, Mexico and Central America, and employs more than 5,000 staff. The carrier is a publicly traded company and maintains operating bases in 13 cities across the contiguous United States and Puerto Rico.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-4.0%Operating margin9
-3.7%Net margin9
-1.4%Revenue growth, 20259
-27.9%Return on equity9
0.64×Debt to equity9

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Aircraft Fare brought in 40% of the revenue Frontier Airlines broke down this way in fiscal 2025.

  1. Aircraft Fare$1.5B940%up 3% from 2024
  2. Passenger Service Fees$947.0M925%down 6% from 2024
  3. Passenger Baggage$746.0M920%down 13% from 2024
  4. Passenger Seat Selection$297.0M98%up 12% from 2024
  5. Other Passenger Revenue$127.0M93%up 9% from 2024
  6. Product and Service, Other$126.0M93%up 37% from 2024
Products and services by year
Products and services202320242025
Aircraft Fare$1.3B$1.4B$1.5B
Passenger Service Fees$943.0M$1.0B$947.0M
Passenger Baggage$880.0M$862.0M$746.0M
Passenger Seat Selection$281.0M$264.0M$297.0M
Other Passenger Revenue$128.0M$117.0M$127.0M
Product and Service, Other$80.0M$92.0M$126.0M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs100¢$3.7B
  • Income tax0¢$3.0M

Out of $3.7B in revenue.9 The company lost money this year.

Financial statements

Revenue101112139$3.7B in 2025+48% since 2019
0$1.0B$2.0B$3.0B$4.0B2019: $2.5B$2.5B20192020: $1.2B$1.2B2020−50%2021: $2.1B$2.1B2021+65%2022: $3.3B$3.3B2022+61%2023: $3.6B$3.6B2023+8%2024: $3.8B$3.8B2024+5%2025: $3.7B$3.7B2025−1%
Operating income101112139-$149.0M in 2025
-$400.0M-$200.0M0$200.0M$400.0M2019: $309.0M$309.0M20192020: -$365.0M-$365.0M20202021: -$117.0M-$117.0M2021−68%2022: -$45.0M-$45.0M2022−62%2023: -$3.0M-$3.0M2023−93%2024: $58.0M$58.0M20242025: -$149.0M-$149.0M2025
Net income101112139-$137.0M in 2025
-$400.0M-$200.0M0$200.0M$400.0M2019: $251.0M$251.0M20192020: -$225.0M-$225.0M20202021: -$102.0M-$102.0M2021−55%2022: -$37.0M-$37.0M2022−64%2023: -$11.0M-$11.0M2023−70%2024: $85.0M$85.0M20242025: -$137.0M-$137.0M2025

Every line of the income statement as filed: the last 3 fiscal years, latest first.9

Period ending2025-12-312024-12-312023-12-31
Total operating revenues$3.7B$3.8B$3.6B
Aircraft fuel$929.0M$1.0B$1.1B
Salaries, wages and benefits$1.0B$954.0M$858.0M
Aircraft rent$748.0M$675.0M$554.0M
Station operations$717.0M$637.0M$516.0M
Maintenance, materials and repairs$209.0M$209.0M$179.0M
Sales and marketing$159.0M$178.0M$164.0M
Depreciation and amortization$91.0M$72.0M$50.0M
Other operating$4.0M-$49.0M$141.0M
Total operating expenses$3.9B$3.7B$3.6B
Operating income (loss)-$149.0M$58.0M-$3.0M
Interest expense-$46.0M-$36.0M-$29.0M
Capitalized interest$35.0M$32.0M$28.0M
Interest income and other$26.0M$32.0M$36.0M
Total other income (expense)$15.0M$28.0M$35.0M
Income (loss) before income taxes-$134.0M$86.0M$32.0M
Income tax expense (benefit)$3.0M$1.0M$43.0M
Net income (loss)-$137.0M$85.0M-$11.0M
Basic (in dollars per share)-$0.60$0.37-$0.05
Diluted (in dollars per share)-$0.60$0.37-$0.05

Compare Frontier Airlines with another company

Corporate structure

Frontier Airlines is part of a group headed by Republic Airways Holdings. 10 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Frontier Airlines

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Frontier Airlines reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Accumulated depreciation$333.0M9 Dec 31, 2025$252.0M9 Dec 31, 2024+32.1%
Property and equipment, net$510.0M9 Dec 31, 2025$376.0M9 Dec 31, 2024+35.6%
Operating-lease assets (leased space)$4.8B9 Dec 31, 2025$3.9B9 Dec 31, 2024+22.3%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$671.0M9 Dec 31, 2025$740.0M9 Dec 31, 2024−9.3%

Intangibles and goodwill

ItemLatestA year beforeChange
Intangible assets, net (excluding goodwill)$27.0M9 Dec 31, 2025$27.0M9 Dec 31, 20240%
Indefinite-lived intangibles (excluding goodwill)$26.0M9 Dec 31, 2025$26.0M9 Dec 31, 20240%
Finite-lived intangibles, gross$16.0M9 Dec 31, 2025$16.0M9 Dec 31, 20240%
Accumulated amortization$15.0M9 Dec 31, 2025$15.0M9 Dec 31, 20240%
Finite-lived intangibles, net$1.0M9 Dec 31, 2025$1.0M9 Dec 31, 20240%

Properties, in its own words

Aircraft

Aircraft Type · Seats · Average Age (Years) · Number of Aircraft · Number Owned · Number Leased

The rest of Item 2

A320ceo · 180 or 186 · 10 · 6 · — · 6

A320neo · 186 · 6 · 89 · — · 89

A321ceo · 230 · 9 · 21 · — · 21

A321neo · 240 · 2 · 60 · — · 60

176 · — · 176

Ground Facilities

Our facility leases are primarily for space at approximately 100 airports that are primarily located in the United States. These leases are classified as operating leases and reflect the use of airport terminals, ticket counters, office space, and maintenance facilities. Generally, this space is leased from government agencies that control the use of the airport. The majority of these leases are short-term in nature and renew on an evergreen basis. For these leases, the contractual term is used as the lease term. As of December 31, 2025, the remaining lease terms vary from one month to thirteen years. At the majority of the U.S. airports, the lease rates depend on airport operating costs or use of the facilities and are reset at least annually. Because of the variable nature of the rates, these leases are not recorded on our consolidated balance sheets as right-of-use assets and lease liabilities.

During the year ended December 31, 2025, 21% of our flights had Denver International Airport as either their origin or destination. We primarily operate out of Concourse A at Denver International Airport, where our primary base of operation is the ground load facility and accompanying gates. We typically use 14 gates within Concourse A, all of which are preferentially leased at the ground load facility. International arrivals and other overflow departures operate from Common-Use gates on Concourse A. We also lease a hangar, consisting of approximately 154,900 square feet, which includes office space and is where we provide certain maintenance on our aircraft. Other airports through which we conduct significant operations include Orlando International Airport (MCO) and Hartsfield-Jackson Atlanta International Airport (ATL).

Our principal executive offices and headquarters are located in owned premises at 4545 Airport Way, Denver, Colorado 80239, consisting of approximately 90,000 square feet.

Item 2 of the 10-K filed Feb 18, 2026.17

The story

1990s

Frontier Airlines was created by Frederick W. "Rick" Brown (a United Airlines pilot), his wife Janice Brown, and Bob Schulman, the latter two having worked at the original Frontier Airlines that operated between 1950 and 1986. In 1993, Continental Airlines was scaling back flights from Denver's Stapleton International Airport (which was closed and replaced with Denver International Airport in 1995), and the three proposed a charter airline named AeroDenver Travel Services to fill demand on international routes, potentially in partnership with Condor Airlines. To run the company, they brought in M. C. "Hank" Lund (ex-CEO of the original Frontier Airlines) as CEO and Sam Addoms as executive vice-president and treasurer (later CEO).

As Continental's Denver drawback expanded in scope in late 1993, the proposed airline pivoted to fill regional routes, and adopted the Frontier Airlines name. The company was incorporated in February and went public in May 1994. Scheduled flights began on July 5, 1994, using Boeing 737-200 jetliners between Denver and four cities in North Dakota. Around three-quarters of its 180 employees, and many executives, had worked for the original Frontier Airlines. By January 1995, Frontier had expanded its route network from Denver and was serving destinations in New Mexico, Montana, North Dakota, Texas, Nevada, Nebraska, and Arizona. Like the original airline of the same name, the new Frontier operated a hub at Denver (DEN) and for the first nine years used the slogan "The Spirit of the West" which was displayed above the windows and just behind the cursive letters "Frontier" on the fuselage of their aircraft.

In 1999, Frontier signed agreements to begin purchasing and leasing Airbus A318 and A319 jet aircraft and had also added Boeing 737-300 jetliners to its fleet as well. Also by September 1999, the airline was serving destinations from coast to coast in the U.S., having expanded its route network to include Atlanta (ATL); Baltimore (BWI); Bloomington/Normal, Illinois (BMI); Boston (BOS); Chicago (MDW, Midway Airport); Dallas/Fort Worth (DFW); Phoenix (PHX); Los Angeles (LAX); Minneapolis/St. Paul (MSP); New York City (LGA, LaGuardia Airport); Orlando (MCO); Portland, Oregon (PDX); Salt Lake City (SLC); San Diego (SAN); San Francisco (SFO); and Seattle (SEA), all served from its Denver hub.

2000s

Frontier took delivery of its first Airbus aircraft (an A319) in 2001 and simultaneously launched with it DirecTV in-flight television along with a new company livery. Frontier Airlines was the launch customer of the Airbus A318 in 2003. In mid-April 2005, Frontier officially became an all-Airbus fleet, retiring its last Boeing 737. Jeff Potter was appointed CEO in 2002. Sean Menke, formerly Senior Marketing VP with Air Canada, succeeded Potter as CEO of Frontier Airlines in 2007, and guided the company through bankruptcy reorganization.

As part of its plan to stay competitive in reaction to the entry of Southwest Airlines into Denver, the company underwent a reorganization early in 2006. On April 3, 2006, Frontier created Frontier Airlines Holdings (FRNT), a holding company incorporated in Delaware to take advantage of favorable tax laws in that state. The corporate headquarters did not leave Colorado. In 2007, Frontier established a commuter airline subsidiary, Lynx Aviation, Inc., chaired by Dr. Paul Stephen Dempsey. Dr. Dempsey was Vice-Chairman of Frontier Airlines for 15 years. He left the University of Denver in 2002 to become Tomlinson Professor of Law, and Director of the Institute of Air & Space Law at McGill University.

On January 24, 2007, Frontier was designated as a major carrier by the United States Department of Transportation.

On January 11, 2007, Frontier Airlines signed an 11-year service agreement with Republic Airways. Under the agreement, Republic was to operate 17 76-seat Embraer 170 aircraft for the former Frontier JetExpress operations. At the time the contract was canceled in April 2008, Republic Airways operated 11 aircraft for Frontier Airlines, with the remaining six aircraft expected to join the fleet by December 2008. With the integration of Republic aircraft, the 'JetExpress' denotation was removed. Subsequent to the cessation of Horizon's services for Frontier in December 2007, all flights operated by Republic were sold and marketed as "Frontier Airlines, operated by Republic Airways." The first market created specifically for the Embraer 170 was Louisville, Kentucky, which began on April 1, 2007. Service to Louisville was suspended in August 2008 but restarted in April 2010.

Flights operated by Republic Airlines offered in-flight snack and beverage services similar to Frontier's mainline flights. Unlike Frontier's aircraft and due to the nature of contracting with regional carriers, these Embraer 170 aircraft were not fitted with LiveTV.

Read the full text

On April 10, 2008, Frontier filed for Chapter 11 bankruptcy in reaction to the intent of its credit card processor, First Data, to withhold significant proceeds from ticket sales. First Data decided that it would withhold 100% of the carrier's proceeds from ticket sales beginning May 1. According to Frontier's press release, "This change in practice would have represented a material change to our cash forecasts and business plan. Unchecked, it would have put severe restraints on Frontier's liquidity..." Its operation continued uninterrupted, though, as Chapter 11 bankruptcy protected the corporation's assets and allowed restructuring to ensure long-term viability. After months of losses, Frontier Airlines reported that they made their first profit during the month of November 2008, reporting US$2.9 million in net income for the month.

On June 22, 2009, Frontier Airlines announced that, pending bankruptcy court approval, Republic Airways Holdings, the Indianapolis-based parent company of Republic Airways, would acquire all assets of Frontier for the amount of $108 million. Thus, Frontier Airlines would become a wholly owned subsidiary of Republic. However, five weeks later on July 30, Dallas-based Southwest Airlines announced that it would be making a competing bid of $113.6 million for Frontier with intentions to also operate Frontier as a wholly owned subsidiary, but that it would gradually fold Frontier resources into current Southwest operating assets.

During a bankruptcy auction on August 13, 2009, Republic Airways Holdings acquired Frontier Airlines and its regional airline, Lynx Aviation, as wholly owned subsidiaries. On October 1, Republic completed the transaction, and Frontier officially exited bankruptcy as a new airline.

In late 2009, Republic began to consolidate administrative positions and moved 140 jobs from the Frontier Airlines Denver headquarters to Indianapolis. Shortly after in January 2010, Republic Airways announced that it would move all of its executives to Indianapolis. Later in February, the Denver Business Journal stated that the headquarters would be moved "soon". Despite this, according to the Denver Business Journal, Frontier Airlines will still maintain a local headquarters in Denver to house Training, Marketing, Customer Reservations, and Scheduling & Planning teams after extending its lease on the building through 2020.

In 2010, Frontier's then-CEO Bryan Bedford took part in the reality TV show Undercover Boss.

As Republic Airways Holdings was in the process of bidding to acquire Frontier in 2009, it was also in the process of acquiring Milwaukee-based Midwest Airlines. Through the fall and winter of 2009, Republic operated its two new acquisitions as separate brands. However, to improve efficiency by better matching aircraft capacity to route demand, Republic began to intermix the fleets of the two airlines, swapping a portion of its higher-capacity planes from Frontier with its smaller-capacity planes from Midwest and vice versa. However, the move caused some confusion amongst the public, as the two brands did not offer the same amenities and did not match the amenities mentioned on the airfare. As a result, in the spring of 2010, Frontier and Midwest Airlines announced that their brands would merge, with Frontier being the surviving brand. This was a merger of brands only—no Midwest Airlines aircraft was ever operated by Frontier, as by this time, all Midwest Airlines flights were operated on its behalf by other Republic Airways Holdings subsidiaries.

On April 13, 2011, Frontier formed a new subsidiary, Frontier Express, that was planned to operate the airline's smaller aircraft with different services than those available on full-size aircraft.

2010s

Upon the full merger and integration of Frontier and Midwest Airlines in October 2010, Frontier and its regional partners operated over 100 daily flights from the Milwaukee hub. However, on September 9, 2011, Frontier notified the public of a 40% reduction of arriving and departing flights from MKE. Along with this reduction of flights, the company laid off approximately 140 employees from the MKE station. This included but was not limited to: maintenance, grooming services, flight-line and gate.

In February 2012, Frontier Airlines further reduced service to Milwaukee by cutting five more nonstop routes. This move "reduced Frontier's daily departing flights out of Mitchell International from 32 to 18," or 56%. Frontier announced further layoffs in conjunction with this route change: up to 446 Milwaukee-area employees were affected by the job cuts that occurred between April 15 and 30, 2012.

In an effort to focus on regional contract flights for major carriers, Republic Airways Holdings announced in January 2012 its intention to sell or spin off Frontier. On January 26, 2012, Republic Airways Holdings appointed former US Airways and Gate Gourmet CEO David Siegel as president and CEO of Frontier Airlines. Republic also added new senior officers for Frontier's finance and commercial team, among other changes in the executive leadership team. Siegel and other Frontier executives moved to Denver where Frontier is headquartered in order to facilitate management of all aspects of Frontier during its separation process from Republic and continue its transformation into an ultra low-cost carrier (ULCC).

In November 2012, Frontier started low-frequency service between Orlando International Airport and Trenton–Mercer Airport (TTN), located in Ewing, New Jersey, which at that time, had no commercial service. Frontier later expanded service several times from Trenton, and as of January 2023, it served nine destinations. Frontier currently bases three aircraft in Trenton. Trenton Mercer Airport lies roughly equidistant between Philadelphia International Airport and Newark Liberty International Airport.

In July 2013, Frontier started service from Wilmington-New Castle Airport (ILG) near Wilmington, Delaware, to five destinations, which Frontier markets as Wilmington/Philadelphia. Again, this airport had no commercial service prior to Frontier's entry. New Castle Airport lies roughly 30 miles southwest of Philadelphia International Airport and 75 miles northeast of Baltimore–Washington International Airport. As of 2022, Frontier does not serve ILG.

Frontier marketed both the Trenton-Mercer and Wilmington-Philadelphia airports as low-cost, low-hassle alternatives to the existing nearby commercial airports.

Frontier is the only commercial carrier at Trenton, and was the only carrier at ILG until it left in 2022.

In October 2013, Republic Airways Holdings entered into an agreement with private equity firm Indigo Partners to sell Frontier Airlines for approximately $145 million. According to Indigo, the transaction would further Frontier's evolution into an ULCC. In December 2013, Indigo Partners LLC, through an affiliate, completed the purchase of Frontier Airlines from Republic Airways Holdings. The airline's headquarters remained in Denver. On January 1, 2014, Republic Airways Holdings subsidiary Republic Airlines ceased its operation of Embraer 190 aircraft on behalf of Frontier.In 2014, Frontier announced it would be transitioning into an ULCC. Frontier also announced that it would cut several flights and jobs at its Denver hub and transition them to different markets. On January 16, 2015, Frontier announced that it would close both its Denver and Milwaukee call centers, laying off 1,300 employees and outsourcing the jobs to call center company Sitel, which operates a large call center for Frontier in Las Cruces, New Mexico. Frontier Airlines joined Spirit and Allegiant in June 2015 by eradicating its toll-free telephone number for customer service.

In June 2014, Frontier Airlines opened a crew base for flight attendants at Trenton–Mercer Airport.

In January 2015, Frontier Airlines cut several flights from Wilmington and Trenton. It also resumed service to Philadelphia, casting doubt on the airline's existing bases. In late June 2015, Frontier announced it had ceased service in Wilmington, stating it was not profitable.

In February 2015, Frontier announced that they would begin service to several destinations from Atlanta, adding the airport as a focus city. In July, Frontier began to decrease service from Washington Dulles International Airport, removing the airport as a focus city. In early 2016, Frontier announced major route expansion from airports nationwide, including Atlanta, Chicago, Cincinnati, Cleveland, Orlando, and Philadelphia. In June 2016, Frontier re-established service to John Glenn Columbus International Airport. In May 2017, the airline announced it would open a new crew base in Las Vegas in fall 2017, to improve operational reliability and potentially create new jobs in Las Vegas. In December 2017, Frontier began service to Buffalo, New York, with service to Denver, Colorado, and Florida, including Miami, Fort Myers, Orlando, and Tampa.

In May 2015, Indigo and Frontier announced the departure of David Siegel as CEO. He had already previously turned over the role of president to Barry Biffle, formerly of Spirit Airlines. Siegel was not immediately replaced; instead, his duties were split between Biffle and Indigo chairman Bill Franke. Biffle cited operational issues in connection with Siegel's departure.

In 2015, in an airline quality rating report by Embry-Riddle Aeronautical University and Wichita State University, Frontier was ranked amongst the five worst airlines in the United States, especially due to its rate of customer complaints and bumped passengers. The airline had relatively poor on-time performance, and the waiting time for help when calling the airline on the phone was reported to have risen to two hours or more.

In December 2016, a winter weather event disrupted fleet operations and caused Frontier to delay or cancel up to 70% of their flights suddenly during the peak of the crisis. On the weekend of December 17, the storm caused major delays at Frontier's Denver hub. The effects of the storm were felt throughout the fleet. Flights were delayed or canceled at airports across the country; in some cases, planes were ready to depart, but the airline had no rested and available flight crews to service the flights. The head of Frontier's pilot's union issued a statement criticizing the companies' handling of the event, comparing the airline to a "house of cards."

2020s

In 2020, class-action lawsuits against Frontier were filed after the company refused to refund airfare for customers who could not travel during the COVID-19 pandemic. The company accepted part of the $25 billion in U.S. government funds to offset financial damage to the airline industry during the outbreak.

On April 1, 2021, Frontier went public with an initial public offering on the Nasdaq exchange. The company adopted the ticker symbol ULCC, a nod to the company's ultra low-cost carrier business model.

In early 2022, Frontier attempted to acquire Spirit Airlines, another US-based ULCC in a US$2.8 billion cash-and-stock deal. The deal would have created the fifth-largest airline in the country. After announcing the proposal, JetBlue made a competing offer to acquire Spirit for US$3.6 billion in cash. On July 27, 2022, Spirit announced that its shareholders had rejected Frontier's offer.

In November 2022, Frontier announced that it would establish a crew operating base at Dallas Fort Worth International Airport (DFW) in early 2023, and would add a gate in DFW Terminal E for flights to additional destinations starting in April of that year. That month, it also eliminated its customer service phone line completely, referring customers to online channels.

In 2023, a series of class-action lawsuits in multiple states were filed against Frontier alleging that passengers with bags which met the airline's advertised personal item size were systematically forced to check their bags at the gate, incurring a $100 fee. The class action was preceded by an influx of videos on the social media platform TikTok criticizing Frontier's baggage policy, with a focus on Frontier's practice of paying agents a commission if they can get passengers to pay for oversized baggage at the gate prior to boarding. The criticism led Frontier to admit that policies were not being "consistently applied" by its gate agents, as well as that the airline pays its agents a commission bonus for every passenger that is charged with an additional baggage fee at the gate.

In February 2024, another video about Frontier's baggage policy went viral on TikTok. In the short video, a frustrated passenger alleges that Frontier covertly makes their baggage sizers smaller than the advertised dimensions in order to up-charge customers for baggage; to prove this, she demonstrates how her personal item comfortably fits within the sizer of competitor airlines like Spirit Airlines but cannot fit into Frontier's sizer, despite the two airlines having the same listed dimension allowance.

On December 4, 2024, the Senior Vice-President and Chief Commercial Officer of Frontier, Robert Schroeter, testified before the Senate Permanent Subcommittee on Investigations at a hearing on predatory "junk" fees charged by airlines for baggage. Senators from both parties, including Senators Josh Hawley and Richard Blumenthal, harshly criticized Frontier's incentives program for its gate agents, pointing out that it had resulted in upwards of $26 million being paid out in baggage fee commissions by 2023.

In 2025, Frontier, known for having the lowest cost per mile in North America at $0.0985, ranked fifth in the 2025 edition of Skytrax's annual "Best Low-Cost Airlines in North America" ranking.

On July 14, 2026, Frontier announced it would install Starlink Wi-Fi services in-flight starting in 2027, after both American/United had installed those services earlier that same year (2026), making that the first such wireless connection offered by Frontier.

From Wikipedia’s article on Frontier Airlines, shared under CC BY-SA 4.0.6

Leadership

Who has led Frontier Airlines, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (26)

Products and brands

Destinations

Frontier Airlines operates a network consisting of both domestic and international destinations in the United States, Mexico, Central America, and the Caribbean.

Codeshare agreements

Frontier has a codeshare agreement with Volaris.

Fleet

Current fleet

As of May 2026, Frontier Airlines operates an all-Airbus A320 family fleet composed of the following aircraft:

Fleet development

During the 2011 Paris Air Show, Republic Airways Holdings ordered 60 Airbus A320neo aircraft and 20 Airbus A319neo aircraft for Frontier. In 2014, the airline ordered 19 Airbus A321neo aircraft. In October 2016, Frontier Airlines took delivery of its first Airbus A320neo aircraft and became the second US operator of the type after Spirit Airlines.

Read the full text

On November 15, 2017, Frontier Airlines announced a $15 billion order for 134 additional A320neo family aircraft. The order, slightly revised under new owner Indigo, consisted of 100 A320neos and 34 A321neos. The order also included the conversion of the remaining A319neo to A320neo. With this order, Frontier Airlines fleet sought industry-leading fuel efficiency as well as one of the youngest and most modern fleets, particularly in comparison to other low-cost carriers, with an average fleet age of five years as of 2018.

Cabin

At the end of 2025, Frontier Airlines began receiving A320neo aircraft equipped with the Airspace cabin, which now includes enhanced mood lighting, revised PSUs and overhead bins, along with minor cosmetic changes throughout.

Engine

As of 2025, Frontier Airlines has begun operating A320neos (including the A321neo) with a mix of General Electric (CFM) LEAP-1A and Pratt & Whitney PW1100G GTF engines. When the order for A320neos was placed in 2016, the initial selection was exclusively for the LEAP-1A. However, in 2021 Frontier Airlines transitioned remaining A320neo orders to come with the PW1100G.

Historical fleet

In the past, Frontier Airlines has operated the following aircraft types:

Services and seating

Services

As an ultra low-cost carrier (ULCC), Frontier imposes fees for additional amenities and services, such as for advance seat reservation and baggage allowance, the waiving of fees associated with changing or canceling itineraries, and operates a buy on board service for in-flight catering. Prior to its transition to an ULCC, the airline offered DirecTV channels on seat-mounted electronic screens for an additional fee. Following the removal of the electronic screens from its seats, the airline has not offered any in-flight entertainment options. In May 2024, Frontier introduced a low-cost bundled fare option called "BizFare," which includes seat selection, a carry-on bag, and flexibility to change flights without penalty.

Frontier Airlines currently offers three bundle options, which give every passenger the opportunity to upgrade their ticket to a service level that meets their needs or may be better-aligned with legacy carriers. Any passenger who purchases a bundle has zero change or cancellation fees.

Economy Bundle includes a personal item, carry-on bag, standard seat selection, and no change or cancel fee. Premium Bundle includes all of Economy, plus premium seat selection and "Board First" with reserved overhead bin space. Business Bundle includes everything from Economy and Premium, plus 2 checked bags (50 lbs max, each) and an UpFront Plus seat (empty middle or 2x2 seating).

Seating

Frontier's aircraft are configured in all-economy class seating in a 3–3 layout. Seats on its A320 aircraft have 28 inches (71 cm) to 30 inches (76 cm) of seat pitch, and seats on its A321 aircraft have 30 inches (76 cm) to 32 inches (81 cm) of seat pitch. At 19 inches (48 cm) wide, the middle seats on Frontier's aircraft are wider than the window and aisle seats. Seats do not have adjustable recline, with the exception of some premium "Stretch" seats in an exit row or near the bulkheads, which have an additional 5 inches (13 cm) to 8 inches (20 cm) of seat pitch.

Premium Seating

In 2026, Frontier Airlines will be rolling out a First Class hard product with seats designed by Geven (an Italian company). Frontier's First Class seats are expected to be in a traditional 2x2 seating, with some service enhancements planned. The First Class seats will be offered on-board alongside the current UpFront Plus upgraded seating option, which provide a window or aisle seat with a guaranteed empty middle seat and additional legroom in the front of the cabin (for expedited boarding and deplaning).

From Wikipedia’s article on Frontier Airlines, shared under CC BY-SA 4.0.6

Subsidiaries and ownership

Parent company

Owners

Subsidiaries (Exhibit 21)

  • Frontier Airlines Holdings, Inc. Delaware7
  • Frontier Airlines, Inc. Colorado7

From Wikidata.1 The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Aug 31, 20268-K Exit or restructuring costs; Other events47
  2. Jul 29, 20268-K Results of operations48
  3. Jul 17, 20268-K Executive or director change49
  4. Jul 7, 20268-K Entered a material agreement50
  5. Jun 30, 20268-K Entered a material agreement; New debt or obligation51
  6. Jun 12, 20268-K Executive or director change52
  7. May 15, 20268-K Shareholder vote53
  8. May 5, 20268-K Results of operations54
  9. Mar 17, 20268-K Regulation FD disclosure55
  10. Mar 17, 20268-K Entered a material agreement; Exit or restructuring costs56
  11. Feb 11, 20268-K Results of operations57
  12. Feb 9, 20268-K Executive or director change58
  13. Jan 9, 2026New chief executive James G. Dempsey becomes CEO18
  14. Nov 30, 2021New chief executive Barry Biffle becomes CEO19
  15. 1994Founded Founded1

Calendar

Coming up

  1. Oct 28, 2026 · Before the openReports results for the quarter ending Sep/2026 A year earlier it reported ($0.34) a share, on Nov 5, 2025.59

When it reported results

  1. Jul 29, 2026Reported quarterly or annual results48
  2. May 5, 2026Reported quarterly or annual results54
  3. Feb 11, 2026Reported quarterly or annual results57
  4. Jan 8, 2026Reported quarterly or annual results60
  5. Dec 15, 2025Reported quarterly or annual results61
  6. Nov 5, 2025Reported quarterly or annual results62
  7. Aug 5, 2025Reported quarterly or annual results63
  8. May 1, 2025Reported quarterly or annual results64

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

583 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 68 major events, 326 insider forms, 6 large holders, 163 other. The latest 20:

  1. Sep 22, 20264 PRIMARY DOCUMENT EDGAR
  2. Sep 9, 20264 PRIMARY DOCUMENT EDGAR
  3. Sep 9, 20264 PRIMARY DOCUMENT EDGAR
  4. Sep 4, 2026144 EDGAR
  5. Sep 4, 2026144 EDGAR
  6. Aug 31, 20268-K EDGAR
  7. Aug 6, 20264 PRIMARY DOCUMENT EDGAR
  8. Aug 6, 20264 PRIMARY DOCUMENT EDGAR
  9. Aug 6, 20264 PRIMARY DOCUMENT EDGAR
  10. Aug 6, 20264 PRIMARY DOCUMENT EDGAR
  11. Aug 5, 2026144 EDGAR
  12. Aug 4, 20264 PRIMARY DOCUMENT EDGAR
  13. Aug 4, 20264 PRIMARY DOCUMENT EDGAR
  14. Aug 4, 2026144 EDGAR
  15. Aug 4, 2026144 EDGAR
  16. Aug 4, 2026144 EDGAR
  17. Aug 4, 2026144 EDGAR
  18. Aug 3, 2026144 EDGAR
  19. Jul 31, 2026144 EDGAR
  20. Jul 29, 202610-Q EDGAR

The 583 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

112 open-market trades by officers, directors and large owners since October 2021: 0 buys and 112 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 4, 2026Schuller SteveSVP, Human ResourcesSale7,500$6.00$45.0KForm 4
Sep 4, 2026Clerc AlexandreSVP, CustomersSale3,480$5.71$19.9KForm 4
Aug 5, 2026Mitchell Mark ChristopherSVP & CFOSale125,000$8.09$1.0MForm 4
Aug 4, 2026Clerc AlexandreSVP, CustomersSale3,068$8.17$25.1KForm 4
Aug 4, 2026Wetzel Josh AVP & CAOSale2,000$8.00$16.0KForm 4
Aug 4, 2026Stedke Trevor J.Sr. Vice President, OperationsSale167,277$8.03$1.3MForm 4
Aug 4, 2026Diamond HowardEVP, Legal & Corporate AffairsSale24,195$8.25$199.6KForm 4
Aug 3, 2026Schuller SteveSVP, Human ResourcesSale10,000$7.55$75.5KForm 4
Jul 31, 2026Clerc AlexandreSVP, CustomersSale7,142$7.13$50.9KForm 4
Jul 9, 2026Group Holdings - Frontier LLC10% ownerSale11,700,000$7.20$84.2MForm 4
Jun 5, 2026Schuller SteveSVP, Human ResourcesSale10,000$6.00$60.0KForm 4
Jun 2, 2026Clerc AlexandreSVP, CustomersSale5,060$5.93$30.0KForm 4
May 21, 2026Wetzel Josh AVP & CAOSale13,500$4.75$64.1KForm 4
May 7, 2026Stedke Trevor J.Sr. Vice President, OperationsSale83,110$5.41$449.6KForm 4
Feb 6, 2026Schuller SteveSVP, Human ResourcesSale5,000$6.00$30.0KForm 4
Dec 11, 2025Biffle BarryCEOSale82,627$5.78$477.6KForm 4
Dec 10, 2025Schuller SteveSVP, Human ResourcesSale5,000$6.00$30.0KForm 4
Dec 10, 2025Biffle BarryCEOSale17,373$6.01$104.4KForm 4
Dec 8, 2025Biffle BarryCEOSale100,000$5.54$554.0KForm 4
Dec 5, 2025Biffle BarryCEOSale44,813$5.05$226.3KForm 4

All 112 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Indigo Partners LLC32,092,007$253.8M56.0%No change
Wildcat Capital Management, LLC28,061,351$222.0M97.1%No change
BlackRock, Inc.5,967,733$47.2M0.0%+684,650
U S Global Investors Inc4,914,655$38.9M3.7%−1,866,757
Two Sigma Investments, LP4,681,564$37.0M0.0%+2,413,508
Marshall Wace, Llp4,204,881$33.3M0.0%+173,362
Vanguard Capital Management LLC3,654,174$28.9M0.0%+64,217
Jane Street Group, LLC3,569,335$28.2M0.0%+2,596,903
Vanguard Portfolio Management LLC3,373,624$26.7M0.0%+101,144
Millennium Management LLC2,878,001$22.8M0.0%+2,596,938
Dimensional Fund Advisors LP2,499,595$19.8M0.0%+42,095
State Street Corp2,414,597$19.1M0.0%+128,327
Ancient Art, L.P.2,395,119$18.9M3.9%−727,585
Geode Capital Management, LLC1,914,167$15.1M0.0%+93,962
Balyasny Asset Management L.P.1,758,027$13.9M0.0%New
Citadel Advisors LLC1,757,871$13.9M0.0%+1,222,012
Tudor Investment Corp Et Al1,617,675$12.8M0.1%+477,481
Silver Point Capital L.P.1,535,000$12.1M1.2%−2,120,000
Point72 Asset Management, L.P.1,440,938$11.4M0.0%+724,742
Renaissance Technologies LLC1,395,600$11.0M0.0%New
D. E. Shaw & Co., Inc.1,209,528$9.6M0.0%+1,003,850
Goldman Sachs Group Inc1,186,433$9.4M0.0%+7,049
Jpmorgan Chase & Co1,227,113$9.2M0.0%+1,203,036
Bank Of America Corp /de/927,535$7.3M0.0%+502,369
Jump Financial, LLC908,400$7.2M0.1%+111,800

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Frontier Airlines is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARFrontier Group Holdings, Inc.2
  • CIK0001670076
  • Employer ID (EIN)46-368186617
  • Filer statusAccelerated filer not an emerging growth company; not a smaller reporting company; not a shell company17
  • Incorporated inDelaware17
  • Fiscal year endsDecember 312
  • Industry code (SIC)4512 Air Transportation, Scheduled2
  • SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance2
  • Business address4545 Airport Way, Denver, CO 802392
  • Phone(720) 374-44902
  • Shares outstanding229,789,335 as of May 1, 202616
  • Public float$204.0M as of Jun 30, 202517
  • AuditorErnst & Young LLP, Denver, Colorado PCAOB ID 42; it also attests to the company’s internal control over financial reporting17
  • On EDGAR sinceMar 31, 20172
  • Filings671 in all: 4 (343), 144 (75), 8-K (74), 425 (47), 3 (31), 10-Q (17), CORRESP (11), UPLOAD (10)2
    All 34 form types

    S-1/A (7), DEFA14A (6), 10-K (5), DEF 14A (5), S-8 (5), ARS (4), 8-K/A (3), EFFECT (3), S-4/A (3), SC 13G (3), S-1 (2), SC 13G/A (2), SEC STAFF LETTER (2), 3/A (1), 424B3 (1), 424B4 (1), 8-A12B (1), CERT (1), DRS (1), DRS/A (1), DRSLTR (1), POS AM (1), PRE 14A (1), RW (1), S-4 (1), SCHEDULE 13G/A (1)

  • Latest filingsAnnual report (10-K) Feb 18, 2026
    Quarterly report (10-Q) Jul 29, 2026
    Proxy statement (DEF 14A) Apr 2, 2026
    Latest 8-K (8-K) Aug 31, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, $0.001 par value per shareULCCThe Nasdaq Stock Market LLC

From the cover page of the 10-K filed Feb 18, 2026 (Section 12(b) of the Exchange Act).17

Risk factors and legal proceedings

The risks Frontier Airlines names in Item 1A of its 10-K filed Feb 18, 2026: 54 risks under these headings, as written.17

  • Risks Related to Our Industry
  • The demand for airline services is highly sensitive to changes in economic conditions, and a recession or similar economic downturn in the United States or globally would weaken demand for our services and have a material adverse effect on our business, results of operations and financial condition, particularly since a substantial portion of our customers travel for leisure or other non-essential purposes.
  • If we are unable to attract and retain qualified personnel, including our senior management team or other key employees, at reasonable costs or fail to maintain our company culture, our business, results of operations and financial condition could be harmed.
  • The airline industry is exceedingly competitive, and we compete against legacy network airlines, LCCs and other ULCCs; if we are not able to compete successfully in our markets, our business, results of operations and financial condition may be materially adversely affected.
  • Our business has been, and may in the future be, materially adversely affected by the price and availability of aircraft fuel. Unexpected pricing of aircraft fuel or a shortage of, or disruption in, the supply of aircraft fuel could have a material adverse effect on our business, results of operations and financial condition.
  • We are subject to extensive regulation by the FAA, the DOT, the TSA, CBP and other U.S. and foreign governmental agencies, compliance with which could cause us to incur increased costs and adversely affect our business, results of operations and financial condition.
  • Restrictions on, or increased taxes applicable to, charges for non-fare products and services paid by airline passengers and burdensome consumer protection regulations or laws could harm our business, results of operations and financial condition.
  • We are subject to risks associated with climate change, including increased regulation of our CO2 emissions, changing consumer preferences and the potential increased impacts of severe weather events on our operations and infrastructure.
  • We are subject to various environmental and noise laws and regulations, which could have a material adverse effect on our business, results of operations and financial condition.
  • Airlines are often affected by factors beyond their control, including: air traffic congestion at airports; air traffic control inefficiencies; government shutdowns; major construction or improvement projects at airports; aircraft and engine defects; FAA grounding of aircraft; adverse weather conditions; increased security measures; new travel-related identification requirements, taxes and fees; natural disasters; or outbreaks of disease, any of which could have a material adverse effect on our business, results of operations and financial condition.
  • We face competition from air travel substitutes and technology advancements.
  • Future public health threats or outbreaks of disease, including pandemics similar to the COVID-19 pandemic, as well as measures to reduce the spread of such disease and the related economic impact, could have a material adverse impact on our business, results of operations and financial conditions.
The other 43 risks
  • Threatened or actual terrorist attacks or security concerns, particularly those involving airlines, could have a material adverse effect on our business, results of operations and financial condition.
  • A decline in, or temporary suspension of, the funding or operations of the U.S. federal government or its agencies may adversely affect our future operating results or negatively impact the timing and implementation of our growth prospects.
  • Risks associated with our presence in international emerging markets, including political or economic instability, and failure to adequately comply with existing legal requirements, may materially adversely affect our business, results of operations and financial condition.
  • Increases in insurance costs or reductions in insurance coverage may have a material adverse effect on our business, results of operations and financial condition.
  • Risks Related to Our Business
  • If we fail to implement our business strategy successfully, our business, results of operations and financial condition could be materially adversely affected.
  • Our low-cost structure is one of our primary competitive advantages, and many factors could affect our ability to control our costs.
  • We may not be able to grow or maintain our unit revenues or maintain our non-fare revenues.
  • We depend on a sole-source supplier for our aircraft and two suppliers for our engines.
  • We may be subject to competitive risks due to the long-term nature of our fleet and order book which commits us to Airbus aircraft and the engines available for such aircraft for a substantial period of time into the future.
  • Increased labor costs, union disputes, employee strikes and other labor-related disruption may adversely affect our business, results of operations and financial condition.
  • Our inability to expand or operate reliably or efficiently out of airports where we maintain a large presence could have a material adverse effect on our business, results of operations and financial condition.
  • Any damage to our reputation or brand image could adversely affect our business or financial results.
  • Our reputation and business could be adversely affected in the event of an emergency, accident or similar public incident involving our aircraft or personnel.
  • Increasing scrutiny and evolving expectations from customers, regulators, investors and other stakeholders with respect to our environmental, social and governance (“ESG”) practices may impose additional costs on us, harm our reputation, adversely impact our access to capital and financial results, or expose us to new or additional risks.
  • Negative publicity regarding our customer service could have a material adverse effect on our business, results of operations and financial condition.
  • We rely on maintaining a high aircraft utilization rate during peak days to implement our low-cost structure, which makes us especially vulnerable to flight delays, flight cancellations, aircraft unavailability or unplanned reductions in demand.
  • We are highly dependent upon our cash balances and operating cash flows.
  • Our ability to obtain financing or access capital markets may be limited.
  • Our maintenance costs will increase over the near term, we will periodically incur substantial maintenance costs due to the maintenance schedules of our aircraft fleet and obligations to the lessors and we could incur significant maintenance expenses outside of such maintenance schedules in the future.
  • We have a significant amount of aircraft-related fixed obligations and obligations under other debt arrangements that could impair our liquidity and thereby harm our business, results of operations and financial condition.
  • We rely on third-party specialists and other commercial partners to perform functions integral to our operations.
  • We rely on third-party distribution channels to distribute a portion of our airline tickets.
  • We rely heavily on technology and automated systems to operate our business, and any failure of these technologies or systems or any failure on our part to implement any new technologies or systems could materially adversely affect our business.
  • Unauthorized use, unauthorized incursions or user exploitation of our IT Systems could compromise the personally identifiable information of our passengers, prospective passengers or personnel, and other sensitive information and expose us to liability, damage our reputation and have a material adverse effect on our business, results of operations and financial condition.
  • Our business remains dependent on select large markets and increases in competition or congestion or a reduction in demand for air travel in these markets would harm our business.
  • Changes in legislation, regulation and government policy have affected, and may in the future have a material adverse effect on, our business, results of operations, cash flows and financial condition.
  • U.S. tax legislation may adversely affect our business, results of operations, cash flows and financial condition.
  • Our ability to use our net operating loss carryforwards and certain other tax attributes may be limited.
  • Any tariffs imposed on commercial aircraft and related parts imported from outside the United States may have a material adverse effect on our fleet, business, results of operations and financial condition.
  • Our business could be materially adversely affected if we lose the services of our key personnel.
  • We rely on our private equity sponsor.
  • Our quarterly results of operations fluctuate due to a number of factors, including seasonality and other factors.
  • Our lack of membership in a marketing alliance or codeshare arrangements (other than with Volaris) could harm our business and competitive position.
  • Risks Related to Owning Our Common Stock
  • The market price of our common stock may be volatile, which could cause the value of an investment in our stock to decline.
  • If securities or industry analysts do not publish research or reports about our business or publish negative reports about our business, our stock price and trading volume could decline.
  • The issuance or sale of shares of our common stock, or rights to acquire shares of our common stock, or the exercise of warrants issued as part of the funding provided under the CARES Act, could depress the trading price of our common stock.
  • The value of our common stock may be materially adversely affected by additional issuances of common stock or preferred stock by us or sales by our top stockholders.
  • Our anti-takeover provisions may delay or prevent a change of control, which could adversely affect the price of our common stock.
  • Our amended and restated certificate of incorporation and amended and restated bylaws provide for an exclusive forum in the Court of Chancery of the State of Delaware for certain disputes between us and our stockholders, and that the federal district courts of the United States will be the exclusive forum for the resolution of any complaint asserting a cause of action under the Securities Act.
  • Our amended and restated certificate of incorporation contains a provision renouncing our interest and expectancy in certain corporate opportunities.
  • Our amended and restated certificate of incorporation and amended and restated bylaws include provisions limiting ownership, control and voting by non-U.S. citizens.
  • We are a holding company and rely on dividends, distributions, and other payments, advances, and transfers of funds from our subsidiaries to meet our obligations.
  • General Risk Factors
  • We may become involved in litigation that could have a material adverse effect on our business, results of operations and financial condition.

Legal proceedings

From time to time, we have been and will continue to be subject to commercial litigation claims and to administrative and regulatory proceedings and reviews that may be asserted or maintained. We believe the ultimate outcome of such lawsuits, proceedings and reviews is not reasonably likely, individually or in the aggregate, to have a material adverse effect on our business, results of operations and financial condition.

The opening of Item 3, Legal Proceedings.17

Sources

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