Frontier Airlines joined Delta Air Lines in pulling its full-year outlook and cutting flights due to a drop in demand and an “uncertain environment.”
The budget airline also lowered its first-quarter outlook. Frontier said its revenue growth likely rose 5% in the first quarter, with capacity up 5% over last year.
“Revenue growth is anticipated to be lower than expected due to weakened demand in March, resulting in fare discounting and promotions across the industry, amplified by the close-in nature of Frontier’s bookings,” Frontier said in a securities filing.
Frontier pointed to a drop in consumer confidence in March as evidence of weaker demand.