Frontier Airlines Bets Big on Ultra-Low Fares
Frontier Airlines’ handling of pandemic-related flight cancellations triggered outrage and spurred appeals for reform. Yet the Denver-based airline expects increasing demand for what it calls “Low Fares Done Right.” Will passengers who believe they were defrauded return to the ultra-low-cost airline?Kelly Bastone •
By late March of last year, Darcy Lundstrom knew she wouldn’t be boarding any of the flights she’d booked for April and May. The girlfriend getaway to Las Vegas, the vacation with her daughter to Orlando, Florida, and the visit with family in Fargo, North Dakota, all seemed pointless and risky once the COVID-19 pandemic had closed tourist attractions and public health officials preached the gospel of isolation.
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With a 7.57% fall seen by the major airline industry, this was the second worst performing industry yesterday. The top 5 major airline stocks on the NASDAQ and the NYSE, in terms of volumes, yesterday were:
The volume of Delta Air Lines Inc (NYSE: DAL) shares traded yesterday was 17.07 million.. Read More. Don t Miss Any Updates! News Directly in Your Inbox Subscribe to:
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For the second time in four years, the low-cost carrier Frontier Airlines has filed for an initial public offering (IPO).
What Happened: The Denver-headquartered airliner was publicly-traded prior its to filing for bankruptcy in 2009. Republic Airways Holdings acquired Frontier for $108.8 million out of bankruptcy, and in 2013 it was sold to the private equity firm Indigo Partners for $145 million.
Frontier previously filed an S-1 seeking to raise $700 million in March 2017, but that filing remained dormant before it was withdrawn last summer.
The coronavirus pandemic made a significant dent in the airline industry and Frontier was not immune from its tumult. According to its regulatory filing, the company posted a $225 million loss in 2020 on revenue of $1.25 billion, compared with net income of $251 million on sales of $2.5 billion during 2019.
As of 2013, the most recent year in the analysis, Frontier Airlines ranked as second most complained-about, reflecting a spike that began in 2012 and pushed it past United Airlines, whose complaints peaked in 2012. Spirit Airlines (NASDAQ: SAVE) passengers complain more than riders of any other. Read More. Don t Miss Any Updates! News Directly in Your Inbox Subscribe to: