“Bookings are increasing for several months.” Biffle said to reporters, “If you are planning to go somewhere, you must book it now, because, we are going to run out of seats.”
Over 2 million passengers went through TSA checkpoints from June 11th to 13th, which is still around 600,000 less than the amount for the same time in 2019. But the industry expects passengers to keep increasing over the summer as Americans schedule post lockdown vacations.
“People are talking about vaccines unlocking a big demand and that is what we are seeing., Biffle said.
Frontier is among a group of airlines called ultra low cost carriers or ULCC, which also includes Allegiant, Southwest, Spirit and Sun Country. For example, Frontier offered its customers $16 one way tickets going from Charlotte, North Carolina to Orlando, Florida.
“So I believe by the time fourth of July gets here, from the end of the summer, I believe you will see huge travel. So, it is time to schedule your flight if you want to see a deal, you should get it now., Biffle said.
Shares of the Frontier stock started trading on April 1st. Frontier reported first quarter 2021 earnings back in May. Overall operating revenue was reported at $271 million, lower by 50% compared to 2020’s first quarter.
The company, in its release said, “During the quarter, Frontier had a strong comeback in demand as leisure has strengthened leading up to spring break and Easter, causing the Company to now be cash positive.”
Their first quarter earnings report revealed that Frontier is happy by what they are seeing in the strength of forward bookings. “Management’s anticipations is that the firm will keep seeing an increase in the pace of demand as it goes from March through June and expects returning to profitability in the second part of 2021.”
CEO Biffle connects the optimistic predictions to something very simple. “I believe it is just human nature, you want to go see your family and friends., he said.
Author: Steven Sinclaire