Frontier Group CFO Josh Wetzel to resign in May

DENVER, CO - Frontier Group Holdings , Inc. (NASDAQ:ULCC), the parent company of Frontier Airlines, Inc., announced today that Josh Wetzel, the company’s Chief Accounting Officer, will step down from his role effective May 30, 2025. The announcement, based on a press release statement, came after Wetzel informed the company of his decision on March 7, 2025. The news comes as the airline, currently valued at $1.3 billion, navigates through challenging market conditions, with its stock down about 14% year-to-date.

According to the company’s 8-K filing with the Securities and Exchange Commission, Wetzel’s departure is not due to any disagreements with Frontier Group Holdings on matters such as financial statements, internal controls, or operations. The company has stated that Wetzel will continue in his current capacity until a new principal accounting officer is appointed or until his resignation takes effect. According to InvestingPro analysis, the company currently maintains a weak financial health score, operating with significant debt burden and challenges in meeting short-term obligations.

Frontier Group Holdings has not yet announced a successor for the Chief Accounting Officer position. The transition comes at a time when the Denver-based airline continues to navigate the competitive and dynamic air transportation industry. Despite current challenges, InvestingPro data indicates the company remains profitable with positive earnings per share and analysts expect net income growth this year. For deeper insights into Frontier’s financial health and future prospects, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.

Wetzel’s resignation will conclude his tenure with Frontier Group Holdings, during which he has overseen the company’s accounting operations and played a role in its financial reporting. The company will be seeking a new executive to fill the critical financial role as it moves forward with its strategic initiatives. The airline generated revenues of $3.8 billion in the last twelve months, with a gross profit margin of approximately 7%.

Investors and stakeholders of Frontier Group Holdings are keeping a close eye on the company’s next steps to ensure a smooth transition and continued adherence to robust financial practices. The company’s shares are traded on The Nasdaq Stock Market under the ticker symbol ULCC.

Frontier Group Holdings, with its headquarters at 4545 Airport Way, Denver, CO, operates Frontier Airlines, known for its low-cost service model. The airline serves a wide range of destinations across the United States and beyond. As Frontier prepares for this change in leadership, the market will be watching for the impact on the company’s financial strategies and performance.

In other recent news, Frontier Group Holdings Inc. reported a significant earnings beat for the fourth quarter of 2024, with earnings per share (EPS) of $0.23 compared to the forecasted $0.04. The airline’s revenue for the quarter reached $1 billion, marking a 12% year-over-year increase. UBS analyst Thomas Wadewitz responded to Frontier’s strong performance by raising the company’s price target to $10.00, maintaining a Neutral rating, and noting the airline’s optimistic guidance for fiscal year 2025. Similarly, TD Cowen analyst Tom Fitzgerald increased the price target to $10.00 from $7.00, while keeping a Hold rating, citing positive developments in Frontier’s revenue and network strategies. Analysts have highlighted Frontier’s 15% rise in Revenue per Available Seat Mile (RASM) and a 430 basis point increase in year-over-year pretax margin. Frontier’s forward guidance projects a minimum of $1.00 in EPS for FY’25, exceeding estimates from both UBS and consensus. The company is focusing on initiatives to enhance loyalty income and expand premium offerings, which are expected to contribute to RASM growth and improved financial performance.

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