Frontier Airlines reported a 71% increase in airfare in the third quarter as the country’s largest budget airline tried to pass along an even bigger jump in jet fuel prices.
Frontier’s fare revenue averaged $67.82 per passenger in the third quarter, compared with $39.74 last year. Including the budget airline’s many fees, such as for checked and carry-on luggage, total revenue per passenger rose 30% on the year to $138.22.
Customers kept booking despite the higher prices. Frontier’s passenger count rose 18% to more than 9.8 million people in the quarter. That’s a difference of 1.5 million passengers from last year.
The company said demand remains strong, even at these higher prices, but Frontier still lost money. The airline widened its third-quarter loss to $104 million from a $77 million loss a year earlier. Its fuel bill soared 82% to $425 million.
Frontier forecast potential adjusted profit in the fourth quarter, saying it expects…
