DENVER , Aug. 8, 2024 /PRNewswire/ -- Frontier Group Holdings, Inc. (Nasdaq: ULCC ), parent company of Frontier Airlines, Inc.
, today reported financial results for the second quarter of 2024 and issued guidance for the third quarter and full-year 2024. Highlights: Total operating revenues were $973 million , 1 percent higher than the comparable 2023 quarter Achieved annual run rate cost savings of more than $100 million from the cost savings program launched in the third quarter of 2023 Cost per available seat mile ("CASM") was 8.98 cents , a reduction of 6 percent over the comparable 2023 quarter Adjusted CASM (excluding fuel), a non-GAAP measure, was 6.
24 cents , on a 13 percent shorter average stage length; adjusted CASM (excluding fuel) on a stage-length adjusted basis to 1,000 miles, a non-GAAP measure, was 16 percent lower than the comparable 2023 quarter Pre-tax income and adjusted (non-GAAP) pre-tax income were each $32 million ; pre-tax margin and adjusted (non-GAAP) pre-tax margin were each 3.3 percent Took delivery of six A321neo aircraft during the second quarter, increasing the proportion of the fleet comprised of the more fuel-efficient A320neo family aircraft to 80 percent as of June 30, 2024 , the highest of all major U.S.
carriers The Company's aircraft delivery schedule with Airbus was updated to defer 54 aircraft deliveries, with original delivery dates in 2025-2028 (based on the March 31, 2024 delivery schedule), out to 2029-2031 (refer to "Fleet" section.