Frontier
American ultra-low-cost airline from Denver, one of the country’s two largest discounters, and a repeat bidder for Spirit.
29 figures on Frontier, drawn from 2 Modern MBA case studies.
The figures
US dollars9
| Against its own chart | |||
|---|---|---|---|
| Gross revenue in billions of dollars, 2023 | $4B | 8th of 8 · top $58B | Why budget airlines stopped winning |
| Ancillary fees earned in billions of dollars, 2023 | $2.9B | 4th of 7 · top $7.9B | Why budget airlines stopped winning |
| Annual revenue from credit cards and mileage sales | $0.1B | 7th of 8 · top $8.2B | Why Asian airlines are so much better |
| Total passenger spend on average between Spirit and Frontier · 2022 | $130.50 | 1st of 4 · top $130.50 | Why budget airlines stopped winning |
| Total passenger spend on average between Spirit and Frontier · 2023 | $118.77 | 2nd of 4 · top $130.50 | Why budget airlines stopped winning |
| Total passenger spend on average between Spirit and Frontier · 2019 | $109.91 | 3rd of 4 · top $130.50 | Why budget airlines stopped winning |
| Total passenger spend on average between Spirit and Frontier · 2018 | $108.65 | 4th of 4 · top $130.50 | Why budget airlines stopped winning |
| Operating income of every major US airline in 2025, with and without loyalty revenue · With loyalty revenue | −$0.1B | 6th of 7 · top $5.8B | Why Asian airlines are so much better |
| Operating income of every major US airline in 2025, with and without loyalty revenue · Without it | −$0.3B | 2nd of 7 · top $1.5B | Why Asian airlines are so much better |
Percentages19
| Against its own chart | |||
|---|---|---|---|
| Load factor, 2023 | 81.4% | 7th of 8 · top 85.0% | Why budget airlines stopped winning |
| Average share of revenue spent on fuel and on labor, 2010 to 2023 · Fuel | 29% | 2nd of 8 · top 31% | Why budget airlines stopped winning |
| Average share of revenue spent on fuel and on labor, 2010 to 2023 · Labor | 28% | 7th of 8 · top 40% | Why budget airlines stopped winning |
| Average operating margin, 2009 to 2019 | 13% | 2nd of 7 · top 16% | Why budget airlines stopped winning |
| US-based airlines by share of the domestic market, 2023 | 4% | 8th of 8 · top 18% | Why budget airlines stopped winning |
| Domestic market share of the two ultra-low-cost carriers · 2020 | 4% | 1st of 14 · top 4% | Why budget airlines stopped winning |
| Domestic market share of the two ultra-low-cost carriers · 2023 | 4% | 1st of 14 · top 4% | Why budget airlines stopped winning |
| Domestic market share of the two ultra-low-cost carriers · 2017 | 3% | 3rd of 14 · top 4% | Why budget airlines stopped winning |
| Domestic market share of the two ultra-low-cost carriers · 2018 | 3% | 3rd of 14 · top 4% | Why budget airlines stopped winning |
| Domestic market share of the two ultra-low-cost carriers · 2019 | 3% | 3rd of 14 · top 4% | Why budget airlines stopped winning |
| Domestic market share of the two ultra-low-cost carriers · 2021 | 3% | 3rd of 14 · top 4% | Why budget airlines stopped winning |
| Domestic market share of the two ultra-low-cost carriers · 2022 | 3% | 3rd of 14 · top 4% | Why budget airlines stopped winning |
| Domestic market share of the two ultra-low-cost carriers · 2010 | 2% | 8th of 14 · top 4% | Why budget airlines stopped winning |
| Domestic market share of the two ultra-low-cost carriers · 2011 | 2% | 8th of 14 · top 4% | Why budget airlines stopped winning |
| Domestic market share of the two ultra-low-cost carriers · 2012 | 2% | 8th of 14 · top 4% | Why budget airlines stopped winning |
| Domestic market share of the two ultra-low-cost carriers · 2013 | 2% | 8th of 14 · top 4% | Why budget airlines stopped winning |
| Domestic market share of the two ultra-low-cost carriers · 2014 | 2% | 8th of 14 · top 4% | Why budget airlines stopped winning |
| Domestic market share of the two ultra-low-cost carriers · 2015 | 2% | 8th of 14 · top 4% | Why budget airlines stopped winning |
| Domestic market share of the two ultra-low-cost carriers · 2016 | 2% | 8th of 14 · top 4% | Why budget airlines stopped winning |
Counts1
| Against its own chart | |||
|---|---|---|---|
| Number of aircraft in fleet, 2023 | 136 | 8th of 8 · top 1,273 | Why budget airlines stopped winning |
Case studies covering Frontier
Case study — TravelWhy Asian airlines are so much betterAsian carriers deliver a service Americans barely recognize. American airlines earn more doing far less.11 min read
Case study — TravelWhy budget airlines stopped winningThe low-cost carriers say the industry is rigged. It isn't. The legacy carriers just copied the only thing they had.16 min read