DENVER, May 13, 2021 (GLOBE NEWSWIRE) — Frontier Group Holdings, Inc., parent company of Frontier Airlines, Inc. (NASDAQ: ULCC), today reported its financial results for the first quarter of 2021.
During the quarter, Frontier experienced a strong rebound in demand as leisure travel strengthened ahead of spring break and Easter, leading the Company to be cash positive1 in March. The Company ended the first quarter of 2021 with $853 million of unrestricted cash and cash equivalents and liquidity available under its Treasury Loan facility. On March 31, 2021, Frontier priced an initial public offering, which closed shortly after the end of the quarter. The IPO generated $271 million of net proceeds to Frontier before an estimated $6 million in offering expenses.
“This is our first quarter reporting as a public company and we couldn’t be more pleased with what we are seeing…
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