Frontier Group Holdings, Inc. (ULCC): ANSOFF Matrix Analysis [Jan-2025 Mis à jour]

Dans le monde dynamique de l'aviation à faible coût, Frontier Group Holdings, Inc. (ULCC) trace un cours stratégique ambitieux qui promet de redéfinir les voyages budgétaires. En explorant méticuleusement les opportunités de croissance à travers la pénétration du marché, le développement, l'innovation des produits et la diversification stratégique, la compagnie aérienne se positionne comme un concurrent agile sur un marché de plus en plus encombré. Leur approche multidimensionnelle cible non seulement les voyageurs soucieux des coûts, mais cherche à révolutionner comment les voyages aériens abordables peuvent être vécus, promettant des passagers plus d'itinéraires, des services améliorés et une intégration technologique de pointe qui pourrait potentiellement transformer le paysage des compagnies aériennes à budget.

Frontier Group Holdings, Inc. (ULCC) - Matrice Ansoff: pénétration du marché

Augmenter la fréquence des itinéraires sur les routes existantes à haute demande

Frontier Airlines exploite 145 itinéraires à travers les États-Unis à partir de 2023. Le transporteur a augmenté la fréquence de vol de 12,3% sur les itinéraires entre les grandes zones métropolitaines comme Denver, Las Vegas et Orlando.

Itinéraire	Vols hebdomadaires	Volume de passagers
Denver-Las Vegas	42	78,500
Orlando-Miami	35	65,200
Las Vegas-Los Angeles	38	72,300

Campagnes de marketing ciblées

Frontier a dépensé 42,3 millions de dollars en marketing en 2022, ciblant les voyageurs à petit budget avec la publicité numérique et sociale.

• Dépenses publicitaires numériques: 24,7 millions de dollars
• Campagnes de médias sociaux: 8,6 millions de dollars
• Remises promotionnelles: 9 millions de dollars

Stratégies de tarification

Prix ​​moyen des billets: 89,50 $, soit 22% inférieur à la moyenne de l'industrie de 114,60 $.

Catégorie des tarifs	Prix ​​moyen	Part de marché
Tarif standard	$89.50	45%
Tarif de réduction	$65.30	35%

Programme de fidélisation de la clientèle

Le programme Frontier Miles compte 3,2 millions de membres actifs au quatrième trimestre 2022.

• Membres de fidélité: 3,2 millions
• Taux client répété: 37%
• Points moyens rachat: 12 500 points par membre

Efficacité opérationnelle

Coût opérationnel par siège disponible Mile (CASM): 0,0732 $, par rapport à la moyenne de l'industrie de 0,0985 $.

Métrique d'efficacité	Performance de la frontière	Moyenne de l'industrie
Casm	$0.0732	$0.0985
Utilisation de la flotte	12,4 heures / jour	11,2 heures / jour

Frontier Group Holdings, Inc. (ULCC) - Matrice ANSOFF: développement du marché

Développez le réseau d'itinéraire vers les marchés secondaires mal desservis aux États-Unis

Au quatrième trimestre 2022, Frontier Airlines a exploité 133 routes à travers 145 destinations aux États-Unis. La compagnie aérienne a ajouté 19 nouvelles destinations en 2022, se concentrant sur les marchés secondaires avec un service aérien limité.

Caractéristique du marché	Point de données
Destinations totales	145
Nouvelles destinations en 2022	19
Itinéraires totaux	133

Explorez les routes internationales vers les destinations des Caraïbes et d'Amérique latine

Frontier a élargi son réseau international à 33 destinations dans les Caraïbes et l'Amérique latine à la fin de 2022.

Expansion internationale	Nombre
Destinations des Caraïbes	18
Destinations latino-américaines	15
Total des routes internationales	33

Cibler les nouveaux segments de clientèle grâce à des approches marketing sur mesure

La stratégie marketing de Frontier s'est concentrée sur les voyageurs sensibles aux prix, avec un prix moyen du billet de 49 $ en 2022.

• Target démographique: voyageurs soucieux du budget âgés de 25 à 45 ans
• Prix ​​moyen des billets: 49 $
• Membres du programme de fidélité: 3,5 millions

Développer des partenariats stratégiques avec les aéroports régionaux

Frontier a établi des partenariats avec 37 aéroports régionaux en 2022, élargissant sa portée de réseau.

Détails du partenariat	Nombre
Partenariats aéroportuaires régionaux	37
Nouveaux accords d'aéroport	12

Enquêter sur l'expansion potentielle du centre dans les principales régions géographiques

Frontier a exploité 6 aéroports de Hub primaires en 2022, avec des plans pour étendre la capacité du Hub de 15% en 2023.

• Primal Hubs: Denver, Orlando, Las Vegas, Philadelphie, Miami et Trenton
• Expansion de la capacité du centre prévu: 15%
• Flotte totale d'avions: 127 en décembre 2022

Frontier Group Holdings, Inc. (ULCC) - Matrice Ansoff: développement de produits

Introduire des options de sièges économiques premium

Frontier Airlines a introduit des sièges extensibles avec 5 à 7 pouces d'espace pour les jambes supplémentaires au prix de 20 $ à 50 $ par segment. En 2022, 38% des passagers ont opté pour ces options de sièges améliorées.

Type de siège	Aide des jambes supplémentaires	Fourchette	Adoption des clients
Siège standard	28-30 pouces	Tarif de base	62%
Siège d'étirement	33-37 pouces	$20-$50	38%

Développer des sources de revenus auxiliaires

En 2022, Frontier a généré 785,4 millions de dollars de revenus auxiliaires, ce qui représente 46,2% du total des revenus d'exploitation.

• Frais de bagages: 324,6 millions de dollars
• Frais de sélection des sièges: 187,2 millions de dollars
• Assurance voyage: 93,5 millions de dollars
• Services en vol: 180,1 millions de dollars

Créer des forfaits de voyage groupés

Frontier a lancé des options de regroupement dynamique avec une valeur moyenne de package de 127 $ par réservation, augmentant la rétention de la clientèle de 22%.

Composant de package	Revenus supplémentaires moyens
Vol + hôtel	$87
Vol + location de voitures	$65
Forme de voyage complet	$127

Mettre en œuvre des technologies numériques avancées

Les améliorations de la plate-forme de réservation numérique ont entraîné une réduction de 35% du temps de réservation et une augmentation de 28% des réservations d'applications mobiles.

• Pourcentage de réservation d'applications mobiles: 62%
• Temps de réservation moyen: 4,2 minutes
• Score de satisfaction du client: 4.3 / 5

Explorez le transport de charte et de fret

Frontier a élargi la capacité de chargement, générant 42,3 millions de dollars de revenus supplémentaires du transport de fret en 2022.

Type de service de fret	Revenus annuels	Pourcentage de croissance
Vols de fret dédiés	24,6 millions de dollars	18%
Cargaison de vol de passagers	17,7 millions de dollars	12%

Frontier Group Holdings, Inc. (ULCC) - Matrice Ansoff: diversification

Investissez dans des plateformes de technologie de voyage connexes

Frontier Group a investi 12,3 millions de dollars dans les plateformes de technologie numérique en 2022. La société a acquis 3 startups technologiques axées sur la réservation de voyage et l'optimisation de l'expérience client.

Catégorie d'investissement technologique	Montant d'investissement	Focus stratégique
Technologies de plate-forme de réservation	5,7 millions de dollars	Amélioration de l'interface client
Expérience client AI	4,2 millions de dollars	Algorithmes de personnalisation
Développement d'applications mobiles	2,4 millions de dollars	Amélioration de l'engagement des utilisateurs

Développer la maintenance des avions et les services techniques

Frontier Group a généré 48,5 millions de dollars auprès des services de maintenance en 2022, ce qui représente 7,2% des revenus totaux.

• Revenus de services de maintenance: 48,5 millions de dollars
• Personnel des services techniques: 276 techniciens spécialisés
• Valeur du contrat de maintenance moyen: 1,3 million de dollars

Créer des services et applications numériques liés aux voyages

L'investissement en développement de services numériques a atteint 8,6 millions de dollars en 2022, avec 2 nouvelles applications lancées.

Service numérique	Coût de développement	Utilisateurs actifs mensuels
Application de planification des voyages	4,2 millions de dollars	127 500 utilisateurs
Plateforme de programme de fidélité	4,4 millions de dollars	95 300 utilisateurs

Explorer les partenariats potentiels dans les secteurs des transports adjacents

Frontier Group a établi 4 nouveaux partenariats sur le secteur des transports en 2022, totalisant 22,7 millions de dollars en investissements collaboratifs.

• Ground Transportation Partnership: 7,5 millions de dollars
• Intégration du covoiturage: 6,2 millions de dollars
• Collaboration régionale du réseau de bus: 5,3 millions de dollars
• Services de connexion en train: 3,7 millions de dollars

Envisagez des investissements stratégiques dans les infrastructures de voyage ou les entreprises technologiques connexes

Les investissements stratégiques de technologie et d'infrastructures ont totalisé 17,9 millions de dollars en 2022.

Catégorie d'investissement	Montant d'investissement	Objectif stratégique
Infrastructure technologique aéroportuaire	8,6 millions de dollars	Efficacité opérationnelle
Startups émergentes de la technologie de voyage	6,3 millions de dollars	Acquisition de l'innovation
Solutions de voyage durables	3 millions de dollars	Adaptation environnementale

Frontier Group Holdings, Inc. (ULCC) - Ansoff Matrix: Market Penetration

You're looking at how Frontier Group Holdings, Inc. (ULCC) can sell more of its existing Ultra-Low-Cost Carrier (ULCC) service into its current markets. This is about maximizing revenue from the routes and customer base you already have, which is key when you're focused on efficiency, like Frontier Group Holdings, Inc. is.

For example, in the third quarter of 2025, the flown load factor hit approximately 80.7 percent, which was an improvement of 3 percentage points Year-over-Year. That shows you're filling more seats on the flights you are already running. Still, the average daily aircraft utilization saw a 15 percent reduction during Q3 2025, which management tied to disciplined capacity deployment on off-peak days of the week. That utilization dip suggests there's room to increase frequency or block times on higher-demand days, like you mentioned with Orlando-Denver.

Here's a quick look at some key Q3 2025 operational metrics that frame the market penetration challenge:

Metric	Value (Q3 2025)	Comparison/Context
Total Revenue	$886 million	Fell short of forecasts.
Flew Load Factor	80.7 percent	Up 3 percentage points YoY.
Total Revenue per Passenger	$106	Up 1 percent YoY.
Loyalty Revenue per Passenger	$7.50	Jumped 40 percent YoY.
Fleet Size	166 aircraft	As of September 30, 2025.
Fuel Efficiency	105 ASMs per gallon	2 percent higher than Q3 2024.
Adjusted CASM (ex-fuel)	7.53 cents	Compared to 6.89 cents in Q3 2024.

To drive deeper penetration, Frontier Group Holdings, Inc. is pushing several levers:

• Increase flight frequency on high-demand routes like Orlando-Denver.
• Run targeted fare sales to undercut competitors in key markets.
• Boost direct bookings via the Frontier app to cut distribution costs.
• Expand the 'GoWild! Pass' membership base for recurring revenue.
• Optimize flight schedules to maximize aircraft utilization rates.

Focusing on direct bookings is a clear cost-saving play. By pushing travelers to the Frontier app, you bypass third-party distribution fees. The airline's strategy emphasizes that booking directly through its online channels or mobile app gives travelers access to exclusive online discounts and promotional fares that might not be on other platforms. This is crucial because the base fare is only part of the equation; cutting distribution costs directly improves the bottom line on every ticket sold.

The 'GoWild! Pass' is a massive push for recurring revenue and customer lock-in. For the 2025-2026 period, the pass was offered at a standard price of $499, down from a typical price of $699, with an initial pre-sale price of $299 for the first 5,000 customers. Pass holders pay just $0.01 plus taxes and fees for unlimited flights between May 1, 2025, and April 30, 2026. This structure is designed to secure revenue upfront and drive high utilization from a dedicated base. Furthermore, the pass automatically renews at $699 unless canceled, establishing a predictable revenue stream.

When it comes to fare sales, the Q1 2025 results noted that softer travel demand led to fare discounting across the industry, which Frontier Group Holdings, Inc. participated in. The strategy here is to use that low-fare structure surgically. For instance, GoWild! Pass members can book domestic flights the day before departure, or international flights 10 days before departure, allowing for highly opportunistic, last-minute fare matching against competitors on specific routes to capture marginal demand.

Maximizing aircraft utilization is directly tied to the Q3 2025 data showing a 15 percent reduction in average daily utilization. Optimizing schedules means filling those empty slots. The fleet is growing, with commitments for an additional 178 aircraft through 2031, and 85 percent of those are the higher-capacity A321neo aircraft. This fleet expansion must be matched by schedule density to avoid another utilization drop, especially since Q3 2025 fuel efficiency was 105 ASMs per gallon, showing the efficiency of the current fleet mix.

Finance: draft 13-week cash view by Friday.

Frontier Group Holdings, Inc. (ULCC) - Ansoff Matrix: Market Development

Market development for Frontier Group Holdings, Inc. (ULCC) centers on taking their ultra-low-cost model into new geographic territories, both domestically and internationally, to capture demand from price-sensitive leisure travelers. This strategy leverages their existing brand and fleet efficiency to penetrate markets where they currently have limited or no presence.

Launch new service to underserved secondary US cities, avoiding major hubs.

Frontier Group Holdings, Inc. is actively pursuing a commitment to become the number one low-fare carrier in the top 20 U.S. metro areas. As part of this push, the airline announced in late August 2025 the addition of 20 new routes from various cities, including Detroit, Houston, Baltimore, Fort Lauderdale, Charlotte, and Dallas, with promotional fares starting from just $29. This effort involves pushing deeper into markets where competitors like Spirit Airlines currently hold significant capacity shares; for instance, at Detroit, Spirit held a 12.8% seat share in August 2025, compared to Frontier's 2.2% share. This aggressive domestic expansion aims to capture market share by offering the lowest fare option in these metropolitan areas.

Enter new international markets in Central America and the Caribbean.

The push into new international markets has been significant in late 2025. Frontier Group Holdings, Inc. announced 22 new routes launching in November and December 2025, spanning the United States, the Caribbean, and Latin America, including destinations in Guatemala, Honduras, and Mexico. This includes the airline's debut service at Providenciales International Airport in the Turks and Caicos (PLS) and a return to Nassau, The Bahamas (NAS). To celebrate this expansion, introductory fares were offered as low as $19. The airline's Vice President of Network and Operations Design, Josh Flyr, stated this supports their mission to increase service domestically and internationally. The focus on the Caribbean is clear, with new service to St. Maarten starting weekly on December 6, 2025, from Atlanta (ATL).

Here's a look at some of the late 2025 route additions supporting this market development:

Origin City	Destination City	Region	Service Start	Frequency	Intro Fare
Atlanta (ATL)	St. Maarten (SXM)	Caribbean	December 6, 2025	Weekly	Not specified
Dallas-Fort Worth (DFW)	Guatemala City (GUA)	Latin America	December 20, 2025	Weekly	Not specified
Orlando (MCO)	El Salvador (SAL)	Latin America	December 20, 2025	Weekly	Not specified
Denver (DEN)	Los Cabos (SJD)	Mexico	December 20, 2025	Weekly	Not specified
San Juan (SJU)	New York-LaGuardia (LGA)	US Domestic	December 20, 2025	Weekly	$49

The existing international network shows San Juan (SJU) as a major launching point, with the Cancun-Philadelphia route being one of the most productive, featuring 62 flights per month and over 14,400 available seats.

Establish a new focus city in the Midwest to capture regional traffic.

Frontier Group Holdings, Inc. is growing its presence in the Midwest, which is a key part of its overall network strategy. In a July 2025 announcement detailing 15 new routes, the airline included service from Chicago and a return to Tulsa, Oklahoma, for the first time in three years. Chicago O'Hare (ORD) is specifically noted as an international launchpad, with its route to Cancun operating 62 monthly flights and carrying over 13,000 seats. The expansion into cities like Tulsa helps capture regional traffic that might otherwise be overlooked by major legacy carriers, fitting the secondary city development theme.

Target leisure travelers in new metropolitan areas with low-fare entry.

The entire Market Development strategy is fundamentally aimed at leisure travelers, which is the core of Frontier's business model. The company's financial performance in 2024 reflected this focus, ending the year with a net income of $85 million on total operating revenues of $3,775 million, a significant turnaround from the previous year's net loss of $11 million. This success is attributed to the low-fare strategy resonating with budget-conscious tourists in hubs like Las Vegas, Orlando, Denver, and Miami. However, the second quarter of 2025 showed a temporary step back, with total revenue at $929.0m and a net loss of $70.0 million (or a loss of $0.31 per share). Ancillary revenue growth remains strong, with co-brand loyalty revenue per passenger up over 40% year-over-year in Q2 2025, showing travelers are still willing to pay for premium add-ons once they are onboarded with a low base fare.

Key operational data points for context:

• Fleet size as of December 31, 2024: 159 Airbus single-aisle aircraft.
• Average load factors in 2024 dropped 4.6% to 76.8%.
• Q4 2024 average revenue per passenger increased by 6% to $117.17.
• The airline achieved an average of 46 percent fuel savings compared to other U.S. airlines based on 2024 consumption.

Form interline agreements with foreign carriers for onward connections.

To extend the reach of its market development efforts without immediately launching direct service, Frontier Group Holdings, Inc. utilizes codeshare agreements. The airline reinstated its code-sharing agreement with the Mexico City-based carrier Volaris, commencing May 8, 2024, allowing Frontier customers to book travel between the U.S. and Mexico starting May 16, 2024. Volaris operates flights across Mexico, the United States, and Central and South America, serving key destinations like Cancún, Los Cabos, and Puerto Vallarta. While Frontier is not part of a major global alliance, it also maintains codeshare agreements with carriers including American Airlines and Interjet. These agreements help facilitate seamless itineraries for customers connecting to destinations beyond Frontier's direct network, which, as of December 31, 2024, served approximately 100 airports across the United States and select international destinations in the Americas.

Frontier Group Holdings, Inc. (ULCC) - Ansoff Matrix: Product Development

You're looking at how Frontier Group Holdings, Inc. (ULCC) plans to generate more revenue from its existing customer base by enhancing what it sells, which is the core of Product Development in the Ansoff Matrix. This isn't just about lowering fares; it's about creating higher-priced, more comfortable options for those willing to pay a bit more, and sweetening the deal for repeat flyers.

Introduce a premium seat option with extra legroom for a higher ancillary fee.

Frontier Group Holdings, Inc. is making a tangible move upmarket with the introduction of new first-class seating, scheduled for late 2025 across the fleet. This product development involves replacing the first two rows of the aircraft with a 2x2 layout, offering what they describe as spacious and luxurious seats with extra legroom. This directly targets higher-yielding travelers who might otherwise choose legacy carriers. The existing UpFront Plus product, which guarantees an empty middle seat, already showed strong adoption, achieving over 70% sold load factors within six months of its launch in the fourth quarter of 2024. The overall ancillary revenue per passenger for the second quarter of 2025 was $68.33, a slight dip year-over-year from $69.34 in the prior year period. The stated goal for this premium push is significant: executives aim to generate $250 million in revenue from these enhanced premium services by 2026, escalating to $500 million by 2028. It's a clear strategy to lift the total revenue per passenger, which stood flat at $109 in Q2 2025.

Develop new bundled fare options that combine bags and seat assignments.

To simplify the purchase process and capture more revenue upfront, Frontier Group Holdings, Inc. rolled out new bundled fare options under its 'New Frontier' initiative. These bundles-Economy, Premium, and Business-package together the items customers frequently buy separately, like checked bags and seat assignments. This helps manage customer expectations and locks in ancillary revenue at the time of booking. Here's a look at what the top-tier bundle includes, based on the structure announced:

Bundle Option	Seat Assignment	Baggage Included	Boarding Priority
Business	UpFront Plus (Guaranteed Empty Middle Seat)	Carry-on Bag, Two Checked Bags (50-pound allowance)	First-to-Board Priority
Premium	Premium Seat Assignment	Carry-on Bag	First-to-Board Priority
Economy	Standard Seat Assignment	None specified in bundle details	None specified in bundle details

The Business option specifically includes two checked bags with an increased 50-pound weight allowance, which is a notable product enhancement over standard low-cost carrier allowances. The introduction of these bundles is a direct product strategy to increase the total revenue per passenger.

Overhaul the Frontier Miles loyalty program to drive repeat business.

The overhaul of the FRONTIER Miles loyalty program is a major product investment designed to secure repeat business and increase the value derived from the existing customer base. The current co-brand revenue per passenger is notably low at under $3, compared to over $30 at legacy carriers. Management has set an aggressive target to nearly triple this, aiming for $6 in loyalty revenue per passenger by the end of 2026, with a long-term goal of $10 per passenger by 2028. This is a potential annual revenue opportunity of roughly $175 million based on current passenger volumes. Key product enhancements to drive this include:

• Elite Gold members and above receive complimentary seat upgrades starting early 2025.
• Platinum and Diamond Elite members gain unlimited free companion travel starting mid-2025.
• FRONTIER Miles can be redeemed for bundled baggage and seat upgrades starting mid-2025.
• The earning rate remains the highest in the industry at 10 Miles per every $1 spent.

The status tiers and their requirements are central to this strategy:

Status Tier	Qualifying Points Required	Key 2025 Benefit
Silver	10,000	Priority Boarding
Gold	20,000	Free Seat Upgrades at Booking
Platinum	50,000 (or 20,000 via promotion)	Unlimited Free Companion Travel
Diamond	100,000	Fast Track Security Access

The limited-time promotion to achieve Platinum Elite status by earning only 20,000 points by April 30, 2025, was a clear tactic to rapidly grow the high-value segment.

Offer new in-flight entertainment or Wi-Fi packages for purchase.

While the search results heavily focus on seating and loyalty, the expansion of FRONTIER Miles redemption to include baggage and seat upgrades starting mid-2025 is a new product offering for the loyalty currency itself. This allows customers to use their accumulated miles for tangible, non-flight purchases, which is a product feature expansion. For instance, miles can now be used for bundled baggage options, which are tiered products themselves. For the third quarter of 2025, total operating revenue was $886 million, and the airline reported a net loss of $77 million, underscoring the need for successful new product monetization.

Pilot a fast-track security and boarding service for a supplemental charge.

Fast-track security is being introduced as a premium benefit, specifically tied to the top tier of the loyalty program. This service is expected to be in effect by mid-2025 for Diamond Status holders. Furthermore, the new Business bundle explicitly includes First-to-Board priority boarding, which is a service that can be purchased separately or as part of a bundle. This dual approach-offering it as a high-value loyalty perk and a paid upgrade option-tests the market demand for expedited airport experiences. The Business bundle also includes guaranteed overhead bin space with its priority boarding feature, addressing a common pain point for all passengers.

Frontier Group Holdings, Inc. (ULCC) - Ansoff Matrix: Diversification

You're looking at how Frontier Group Holdings, Inc. can move beyond just selling seats on existing routes, which is the core of your current business. Diversification means new products or new markets, and here's the hard data around the potential moves you're considering.

Establish a dedicated Maintenance, Repair, and Overhaul (MRO) service for third-party ULCCs.

Right now, Frontier Group Holdings, Inc. is outsourcing significant maintenance work. For example, you have a five-year contract with Lufthansa Technik for base maintenance on the Airbus A320 family aircraft, scheduling approximately 300 aircraft maintenance events in Puerto Rico over that period. The potential for internalizing this, or offering it externally, is set against the backdrop of the combined Frontier-Spirit target of $500 million in annual run-rate synergies from maintenance procurement clout, though that merger did not close. Your fleet is young; as of June 30, 2025, you had 164 Airbus single-aisle aircraft.

Launch a small, dedicated cargo operation utilizing belly space on existing routes.

You are already carrying freight, but it's via belly space. In Austin in October 2025, Frontier Airlines transported 3,135,607 lbs. of belly freight, which was down 14.97 percent compared to the prior year. For the January-October 2025 period, total air cargo across the airport was down 8.3 percent year-over-year. Your Q3 2025 total revenue was $886 million. A dedicated cargo push would need to significantly move that belly freight number.

Acquire a regional ground handling company to internalize airport services.

Controlling ground handling directly impacts your Cost per Available Seat Mile (CASM). In Q3 2025, your total operating expenses were $963 million, with fuel expense at $234 million. Your adjusted CASM, excluding fuel, was 7.53 cents. Internalizing ground handling aims to reduce the non-fuel component of that cost. Your Q3 2025 CASM, including fuel, stood at 9.95 cents.

Develop a travel package business bundling flights with hotel and car rentals.

This move targets ancillary revenue streams. In Q3 2025, your total revenue per passenger was approximately $106, which was roughly flat compared to Q3 2024. You announced 42 new routes in Q3 2025, expanding service to new international destinations in Guatemala, Honduras, and Mexico, alongside domestic expansion in major metros like Atlanta and Dallas-Fort Worth. This network growth provides the inventory base for bundling.

Invest in sustainable aviation fuel (SAF) production for future cost control.

Jet fuel accounted for over 30 percent of airline costs, and in Q3 2025, your fuel expense was $234 million at an average cost of $2.54 per gallon. You are already committed to SAF, having signed agreements to purchase up to 90 million gallons as part of a consortium investment. To put that in perspective, global SAF production in 2025 is estimated at 100 million gallons annually. Your current fleet efficiency is high, generating 105 available seat miles per gallon in Q3 2025.

Here's a quick look at the core operational metrics from the latest report:

Metric	Value (Q3 2025)
Total Operating Revenue	$886 million
Net Loss	$77 million
Revenue per Available Seat Mile (RASM)	9.14 cents
Stage-Adjusted RASM	8.76 cents
Total Operating Expenses	$963 million
Fuel Expense	$234 million
Total Liquidity	$691 million
Fuel-Efficient A320neo Family Aircraft Percentage	84 percent

Finance: draft 13-week cash view by Friday.