Frontier Posts Surprise Profit on Higher Fares
Frontier Airlines reported a surprise third-quarter profit and forecast a smaller fourth-quarter loss as higher airfares helped offset rising fuel costs. Revenue climbed 53 percent to a record 1.36 billion dollars driven by strong pricing power.
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Frontier Airlines posted an unexpected third-quarter profit of 18 cents per share on Wednesday morning, driven by a 30% jump in revenue per seat. The carrier also forecast a smaller-than-expected fourth-quarter loss. The performance highlights strong pricing power across the United States domestic market despite rising fuel expenses.
