It’s been a long week for earnings.
And it’s not over yet.
Tomorrow Frontier Airlines will give more color to the information behind its press release that was issued late today.
You can access the press release, including all the gory details here.
Bottomline? These are very ugly numbers folks. No other way to put it.
For the quarter ending Dec. 31, Frontier Airlines Holdings, parent of Frontier Airlines, reported a consolidated net loss of $32.5 million, or $0.89 per diluted share, This compares quite unfavorably to last year when the airline posted a net loss of $14.4 million, or $0.39 per diluted share, for the same period.
CEO Sean Menke said in the release, “The two primary drivers for our loss were the 16.3 percent year-over-year increase in fuel cost per gallon and losses from our regional fleet operation. To some extent these losses were generated by sub-optimal scheduling in our Mexico flights, both those originating in Denver as well as from other cities in our network, and schedule adjustments required to cover the delayed start-up of our Lynx service.”
Should be a rather somber earnings call tomorrow.