Frontier Group Holdings, Inc. (NASDAQ:ULCC) Q2 2024 Earnings Conference Call August 8, 2024 12:00 PM ET

Company Participants

David Erdman - Senior Director, Investor Relations
Barry Biffle - Chief Executive Officer
Jimmy Dempsey - President
Bobby Schroeter - Chief Commercial Officer
Mark Mitchell - Chief Financial Officer

Conference Call Participants

John Dorsett - Barclays
Michael Linenberg - Deutsche Bank
Scott Group - Wolfe Research
Savi Syth - Raymond James
Duane Pfennigwerth - Evercore ISI
Stephen Trent - Citi
Conor Cunningham - Melius Research
Tom Fitzgerald - TD Cowen
Andrew Didora - Bank of America

Operator

Good day. Thank you for standing by. Welcome to the Frontier Group Holdings, Inc. Second Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please note that today's conference is being recorded.

I will now hand the conference over to your speaker host, David Erdman, Senior Director of Investor Relations. Please go ahead.

David Erdman

Thank you. Good morning everyone, and welcome to our second quarter 2024 earnings call. On the call with me this morning are Barry Biffle, Chief Executive Officer; Jimmy Dempsey, President; Mark Mitchell, Chief Financial Officer; and Bobby Schroeter, Chief Commercial Officer.

Before yielding, I'd like to recite the customary safe harbor provisions. During this call, we will be making forward-looking statements, which are subject to risks and uncertainties. Actual results may differ materially from those predicted in these forward-looking statements. Additional information concerning risk factors, which could cause such differences, are outlined in the announcement we released earlier, along with reports we file with the Securities and Exchange Commission.

We will also discuss non-GAAP financial measures, which are reconciled to the nearest comparable GAAP measure in the appendix of the earnings announcement.

So I'll give the floor to Barry to begin his prepared remarks. Barry?

Barry Biffle

Thanks, David, and good morning, everyone. Despite industry oversupply across the United States, we effectively navigated the quarter due in part to our network and revenue diversification, combined with our unique and improving cost advantage. While consumer travel demand has remained resilient, post-pandemic travel patterns have compelled us to concentrate our flying on peak days.

Coupled with the maturity of the new revenue initiatives and our unique cost advantage, we believe we will drive margin improvement and be the clear low-cost winner in 2025 and beyond. Our cost advantage is bolstered by the program we launched late last year, which has generated more than $100 million in annual run rate savings tied to the network simplification, and I'm confident there's more to come.