Frontier Group Holdings, Inc.
Frontier Airlines is an ultra low-cost carrier whose business strategy is focused on Low Fares Done Right®. We offer flights throughout the United States and to select near international destinations in the Americas. Our unique strategy is underpinned by our low-cost structure and superior low-fare brand. As of Dec. 31, 2020, we had a fleet of 104 narrow-body Airbus A320 family aircraft, and a commitment to purchase 156 A320neo (New Engine Option) family aircraft by the end of 2028. During the years ended Dec. 31, 2019, and 2020, we served approximately 23 million and 11 million passengers, respectively, across a network of approximately 110 airports.
In December 2013, we were acquired by an investment fund managed by Indigo Denver Management Company, LLC (“Indigo”), an affiliate of Indigo Partners, LLC (“Indigo Partners”), an experienced and successful global investor in ultra low-cost carriers (“ULCCs”). Following the acquisition, Indigo reshaped our management team to include experienced veterans of the airline industry with a significant history operating ULCCs. Working with Indigo and supported by a highly productive workforce, our management team developed and implemented our unique Low Fares Done Right strategy, which significantly reduced our unit costs, introduced low fares, provided the choice of optional services to our customers, enhanced our operational performance and improved the customer experience. Through the implementation of our new operating model, we positioned our brand as a leading low-fare airline. We had seen a dramatic improvement to our profitability prior to the coronavirus (“COVID-19”) pandemic.
(Note: Frontier Group Holdings priced its IPO on March 31, 2021, at $19 – the bottom of its $19-to-$21 range – on 30 million shares, the number of shares in the prospectus, to raise $570 million. Frontier filed confidentially to go public on Jan. 25, 2021, and followed up with its S-1 filing on March 8, 2021. This pathway to going public followed the airline’s withdrawal in July 2020 of its previous IPO plans, SEC records show.)
|Address||4545 Airport Way Denver, CO 80239|
|Phone Number||(720) 374-4200|
|View Prospectus:||Frontier Group Holdings, Inc.|
|Revenues||$1250.0 mil (last 12 months)|
|Net Income||$-225.0 mil (last 12 months)|
|Price range||$19.00 - $19.00|
|Est. $ Volume||$570.0 mil|
|Manager / Joint Managers||Citigroup/ Barclays/ Deutsche Bank Securities/ Morgan Stanley/ Evercore/ BofA Securities/ J.P. Morgan/ Nomura/ UBS Investment Bank|
|CO-Managers||Cowen and Company/Raymond James|
|Expected To Trade:||4/1/2021|
|Quiet Period Expiration Date:||Available only to Subscribers|
|Lock-Up Period Expiration Date:||Available only to Subscribers|
|SCOOP Rating||Available only to Subscribers|
|Rating Change||Available only to Subscribers|