ULCC News & Events

Sees FY26 Pre-delivery deposits, net of refunds ($170M)-($210M).

Reports Q1 revenue $992M, consensus $1.05B. "Our ability to deliver strong top-line results and increase our liquidity despite a rapidly rising fuel cost environment validates our strategy and the resilience of our operating model," said Jimmy Dempsey, President and CEO. "We remain focused on our four key strategic priorities centered around rightsizing the fleet, strengthening our cost discipline, improving operational reliability and driving customer loyalty, with significant progress achieved on these priorities during the quarter. By staying aligned with our framework and focusing on items we can control, we believe we are well positioned to navigate near-term volatility while emerging stronger as macro conditions normalize."

The company said, "Q2 adjusted diluted per share guidance, as noted below, reflects significant progress anticipated across key commercial initiatives on higher average aircraft utilization underpinned by moderating competitive capacity, with significantly elevated jet fuel prices impacting expected results. RASM and RASM, stage-length adjusted to 1,000 miles, are expected to be up over 20 percent and high-teens on a percentage basis, respectively, compared to the corresponding 2025 quarter. Having ended the Q1 with $974M of total liquidity, the Company expects total liquidity at the end the second quarter of 2026 in the range of $900M-$950M, bolstered by internal liquidity measures, including fleet-related activity and advanced discussions associated with an extension of the Company's co-brand credit card agreement."