0001670076-22-000046 | 10-Q | XBRL Viewer | Frontier Group Holdings INC

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Cover - shares	6 Months Ended
Cover - shares	Jun. 30, 2022	Jul. 22, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	001-40304
Entity Registrant Name	Frontier Group Holdings, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	46-3681866
Entity Address, Address Line One	4545 Airport Way
Entity Address, City or Town	Denver
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80239
City Area Code	720
Local Phone Number	374-4550
Title of 12(b) Security	Common Stock, $0.001 par value
Trading Symbol	ULCC
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		217,677,142
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001670076
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Current Assets
Cash and cash equivalents	$ 766	$ 918
Accounts receivable, net	63	50
Supplies, net	54	29
Other current assets	71	40
Total current assets	954	1,037
Property and equipment, net	195	186
Operating lease right-of-use assets	2,396	2,426
Pre-delivery deposits for flight equipment	301	260
Aircraft maintenance deposits	102	98
Intangible assets, net	28	29
Other assets	269	199
Total assets	4,245	4,235
Liabilities and stockholders’ equity
Accounts payable	102	86
Air traffic liability	372	273
Frequent flyer liability	14	13
Current maturities of long-term debt, net	161	127
Current maturities of operating leases	440	444
Other current liabilities	461	383
Total current liabilities	1,550	1,326
Long-term debt, net	212	287
Long-term operating leases	1,964	1,991
Long-term frequent flyer liability	34	41
Other long-term liabilities	59	60
Total liabilities	3,819	3,705
Commitments and contingencies
Stockholders' equity
Common stock, $0.001 par value per share, with 217,675,437 and 217,065,096 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively	0	0
Additional paid-in capital	385	381
Retained earnings	51	159
Accumulated other comprehensive income (loss)	(10)	(10)
Total stockholders’ equity	426	530
Total liabilities and stockholders’ equity	$ 4,245	$ 4,235

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Common stock, stated par (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares issued (in shares)	217,675,437	217,065,096
Common stock outstanding (in shares)	217,675,437	217,065,096

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Operating revenues:
Total operating revenues	$ 909,000	$ 550,000	$ 1,514,000	$ 821,000
Operating expenses:
Aircraft fuel	335,000	139,000	550,000	223,000
Salaries, wages and benefits	174,000	154,000	346,000	293,000
Aircraft rent	133,000	133,000	261,000	271,000
Station operations	120,000	107,000	225,000	177,000
Sales and marketing	46,000	30,000	78,000	47,000
Maintenance materials and repairs	31,000	27,000	65,000	53,000
Depreciation and amortization	15,000	10,000	28,000	18,000
CARES Act credits	0	(87,000)	0	(223,000)
Transaction and merger-related costs	9,000	0	20,000	0
Other operating	39,000	19,000	87,000	36,000
Total operating expenses	902,000	532,000	1,660,000	895,000
Operating income (loss)	7,000	18,000	(146,000)	(74,000)
Other income (expense):
Interest expense	(3,000)	(5,000)	(12,000)	(27,000)
Capitalized interest	2,000	1,000	3,000	2,000
Interest income and other	2,000	0	2,000	0
Total other income (expense)	1,000	(4,000)	(7,000)	(25,000)
Income (loss) before income taxes	8,000	14,000	(153,000)	(99,000)
Income tax expense (benefit)	(5,000)	(5,000)	(45,000)	(27,000)
Net income (loss)	$ 13,000	$ 19,000	$ (108,000)	$ (72,000)
Earnings (loss) per share:
Basic (in dollars per share)	$ 0.06	$ 0.08	$ (0.49)	$ (0.35)
Diluted (in dollars per share)	$ 0.06	$ 0.08	$ (0.49)	$ (0.35)
Passenger
Operating revenues:
Total operating revenues	$ 890,000	$ 536,000	$ 1,478,000	$ 798,000
Other
Operating revenues:
Total operating revenues	$ 19,000	$ 14,000	$ 36,000	$ 23,000

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 13,000	$ 19,000	$ (108,000)	$ (72,000)
Other comprehensive loss
Unrealized gains (losses) and amortization from cash flow hedges, net of deferred tax benefit/(expense) of less than $(1) for each of the three and six months ended June 30, 2022 and 2021. (Note 5)	0	1,000	0	1,000
Other comprehensive income (loss)	0	1,000	0	1,000
Comprehensive income (loss)	$ 13,000	$ 20,000	$ (108,000)	$ (71,000)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Condensed Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Unrealized losses from cash flow hedges net of adjustment for de-designation of fuel hedges, tax benefit/(expense)	$ (1)	$ (1)	$ (1)	$ (1)

Condensed Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities:
Net income (loss)	$ (108,000,000)	$ (72,000,000)
Deferred income taxes	(45,000,000)	(27,000,000)
Depreciation and amortization	28,000,000	18,000,000
Gains recognized on sale-leaseback transactions	(28,000,000)	(36,000,000)
Loss on extinguishment of debt	7,000,000	0
Warrant liability unrealized loss	0	22,000,000
Stock-based compensation	7,000,000	5,000,000
Amortization of swaption cash flow hedges, net of tax	1,000,000	1,000,000
Changes in operating assets and liabilities:
Accounts receivable	(6,000,000)	(18,000,000)
Supplies and other current assets	(34,000,000)	7,000,000
Aircraft maintenance deposits	(10,000,000)	(8,000,000)
Other long-term assets	(42,000,000)	(15,000,000)
Accounts payable	8,000,000	2,000,000
Air traffic liability	99,000,000	199,000,000
Other liabilities	56,000,000	164,000,000
Cash provided by (used in) operating activities	(67,000,000)	242,000,000
Cash flows from investing activities:
Capital expenditures	(14,000,000)	(12,000,000)
Pre-delivery deposits for flight equipment, net of refunds	(41,000,000)	25,000,000
Other	(2,000,000)	(3,000,000)
Cash provided by (used in) investing activities	(57,000,000)	10,000,000
Cash flows from financing activities:
Proceeds from issuance of debt, net of issuance costs	141,000,000	76,000,000
Principal repayments on debt	(189,000,000)	(60,000,000)
Proceeds from sale-leaseback transactions	23,000,000	27,000,000
Proceeds from initial public offering, net of offering costs and underwriting discounts	0	266,000,000
Minimum tax withholdings on share-based awards	(3,000,000)	(3,000,000)
Cash provided by (used in) financing activities	(28,000,000)	306,000,000
Net increase (decrease) in cash, cash equivalents and restricted cash	(152,000,000)	558,000,000
Cash, cash equivalents and restricted cash, beginning of period	918,000,000	378,000,000
Cash, cash equivalents and restricted cash, end of period	$ 766,000,000	$ 936,000,000

Condensed Consolidated Statements of Stockholders’ Equity - USD ($) $ in Thousands	Total	Common Stock	Additional paid-in capital	Retained earnings	Accumulated other comprehensive income (loss)
Beginning balance (in shares) at Dec. 31, 2020		199,438,098
Beginning balance at Dec. 31, 2020	$ 310,000	$ 0	$ 60,000	$ 261,000	$ (11,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(91,000)			(91,000)
Shares issued in connection with vesting of restricted stock units (in shares)		505,438
Shares withheld to cover employee taxes on vested restricted stock units (in shares)		(146,490)
Shares withheld to cover employee taxes on vested restricted stock units	(3,000)		(3,000)
Restricted stock unit repurchases (in shares)		(20,368)
Stock option exercise (in shares)		640,121
Stock-based compensation	3,000		3,000
Ending balance (in shares) at Mar. 31, 2021		200,416,799
Ending balance at Mar. 31, 2021	219,000	$ 0	60,000	170,000	(11,000)
Beginning balance (in shares) at Dec. 31, 2020		199,438,098
Beginning balance at Dec. 31, 2020	310,000	$ 0	60,000	261,000	(11,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(72,000)
Ending balance (in shares) at Jun. 30, 2021		215,427,043
Ending balance at Jun. 30, 2021	550,000	$ 0	371,000	189,000	(10,000)
Beginning balance (in shares) at Mar. 31, 2021		200,416,799
Beginning balance at Mar. 31, 2021	219,000	$ 0	60,000	170,000	(11,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	19,000			19,000
Shares issued in connection with vesting of restricted stock units (in shares)		18,259
Shares withheld to cover employee taxes on vested restricted stock units (in shares)		(8,015)
Amortization of swaption cash flow hedges, net of tax	1,000				1,000
Stock-based compensation	2,000		2,000
Issuance of common stock upon initial public offering, net of offering costs, underwriting discounts and commissions (in shares)		15,000,000
Issuance of common stock upon initial public offering, net of offering costs, underwriting discounts and commissions	266,000		266,000
CARES Act warrants	43,000		43,000
Ending balance (in shares) at Jun. 30, 2021		215,427,043
Ending balance at Jun. 30, 2021	$ 550,000	$ 0	371,000	189,000	(10,000)
Beginning balance (in shares) at Dec. 31, 2021	217,065,096	217,065,096
Beginning balance at Dec. 31, 2021	$ 530,000	$ 0	381,000	159,000	(10,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(121,000)			(121,000)
Shares issued in connection with vesting of restricted stock units (in shares)		676,146
Shares withheld to cover employee taxes on vested restricted stock units (in shares)		(275,822)
Shares withheld to cover employee taxes on vested restricted stock units	(3,000)		(3,000)
Stock option exercise (in shares)		34,461
Stock-based compensation	3,000		3,000
Ending balance (in shares) at Mar. 31, 2022		217,499,881
Ending balance at Mar. 31, 2022	$ 409,000	$ 0	381,000	38,000	(10,000)
Beginning balance (in shares) at Dec. 31, 2021	217,065,096	217,065,096
Beginning balance at Dec. 31, 2021	$ 530,000	$ 0	381,000	159,000	(10,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	$ (108,000)
Stock option exercise (in shares)	124,411
Ending balance (in shares) at Jun. 30, 2022	217,675,437	217,675,437
Ending balance at Jun. 30, 2022	$ 426,000	$ 0	385,000	51,000	(10,000)
Beginning balance (in shares) at Mar. 31, 2022		217,499,881
Beginning balance at Mar. 31, 2022	409,000	$ 0	381,000	38,000	(10,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	13,000			13,000
Shares issued in connection with vesting of restricted stock units (in shares)		96,078
Shares withheld to cover employee taxes on vested restricted stock units (in shares)		(10,472)
Stock option exercise (in shares)		89,950
Amortization of swaption cash flow hedges, net of tax	1,000				1,000
Unrealized loss from cash flows hedges, net of tax	(1,000)				(1,000)
Stock-based compensation	$ 4,000		4,000
Ending balance (in shares) at Jun. 30, 2022	217,675,437	217,675,437
Ending balance at Jun. 30, 2022	$ 426,000	$ 0	$ 385,000	$ 51,000	$ (10,000)

Summary of Significant Accounting Policies	6 Months Ended
Summary of Significant Accounting Policies	Jun. 30, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The condensed consolidated financial statements have been prepared in accordance with the generally accepted accounting principles in the United States (“GAAP”) and include the accounts of Frontier Group Holdings, Inc. (“FGHI” or the “Company”) and its wholly-owned direct and indirect subsidiaries, including Frontier Airlines Holdings, Inc. (“FAH”) and Frontier Airlines, Inc. (“Frontier”). All wholly-owned subsidiaries are consolidated, with all intercompany transactions and balances being eliminated. The Company is an ultra low-cost, low-fare airline headquartered in Denver, Colorado that offers flights throughout the United States and to select international destinations in the Americas, serving approximately 120 airports. The Company is managed as a single business unit that primarily provides air transportation for passengers. Management has concluded there is only one reportable segment. The accompanying condensed consolidated financial statements include the accounts of the Company and reflect all normal recurring adjustments which management believes are necessary to fairly present the financial position, results of operations and cash flows of the Company for the respective periods presented. Certain information and footnote disclosures normally included in the annual financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for Form 10-Q. These unaudited interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements of the Company and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, which was filed with the SEC on February 23, 2022 (the “2021 Annual Report”). The interim results reflected in the unaudited condensed consolidated financial statements are not necessarily indicative of the results that may be expected for other interim periods or for the full year. The air transportation business is subject to significant seasonal fluctuations and is volatile and highly affected by economic cycles and trends. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts in the financial statements and accompanying notes. Actual results could differ from those estimates. Initial Public Offering On March 31, 2021, the Company’s registration statement on Form S-1 relating to the Company’s initial public offering (“IPO”) was declared effective by the SEC, and the Company’s common stock began trading on the NASDAQ Global Select Market on April 1, 2021 under the symbol “ULCC”. In April 2021, the Company received net proceeds of $266 million after deducting underwriting discounts and commissions of $14 million and offering costs of $5 million, which consisted of direct incremental legal, accounting, consulting and other fees relating to the IPO.

Impact of COVID-19	6 Months Ended
Impact of COVID-19	Jun. 30, 2022
Unusual or Infrequent Items, or Both [Abstract]
Impact of COVID-19	Impact of COVID-19 Impact of the COVID-19 Pandemic The COVID-19 pandemic, along with government-mandated restrictions on travel, required stay-in-place orders, and other social distancing measures, has continued to have a material adverse effect on the Company’s business and results of operations for the three and six months ended June 30, 2022 and 2021. Although the Company experienced a significant and sustained recovery during the quarter ended June 30, 2022 as compared to the three and six months ended June 30, 2021, the Company is unable to predict the future spread and impact of COVID-19, including future variants of the virus such as the recent Omicron variant and its subvariants, or the efficacy and adherence rates of vaccines and other therapeutics and the resulting measures that may be introduced by governments or other parties and what impact those measures may have on the demand for air travel. Beginning in December 2020, the Food and Drug Administration issued emergency use authorizations for various vaccines for COVID-19. Widespread distribution of the vaccines has led to increased confidence in travel, particularly in the domestic leisure market on which the Company’s business is focused. While the Company has experienced a meaningful increase in passenger volumes, as well as bookings, since the vaccines became widely available, demand recovery may continue to be hampered as a result of new variants or subvariants of the virus. The Company continues to closely monitor the COVID-19 pandemic and the need to adjust capacity as well as deploy other operational and cost-control measures, as necessary, to preserve short-term liquidity needs and ensure long-term viability of the Company and its strategies. Any anticipated adjustments to capacity and other cost savings initiatives implemented by the Company may vary from actual demand and capacity needs. The Company continues to monitor covenant compliance with various parties, including, but not limited to, its lenders and credit card processors, and as of June 30, 2022, and through the date of this report, the Company is in compliance with all of its covenants, except the Company has obtained a waiver of relief for the covenant provisions through the third quarter of 2022 related to one of its credit card processors that represents less than 10% of total revenues, which may require future waivers or an amendment to the existing covenants to reflect any additional COVID-19 pandemic impacts. COVID-19 Relief Funding The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) became law on March 27, 2020, and provided the airline industry with up to $25 billion for a Payroll Support Program (the “PSP”) to be used for employee wages, salaries, and benefits and up to $25 billion in loans. Through 2020 and 2021, the Company participated in the PSP, as well as the second Payroll Support Program (“PSP2”) and the third Payroll Support Program (“PSP3,” and together with the PSP and the PSP2, the “PSPs”) offered by the U.S. Department of the Treasury (the “Treasury”), each of which included both a grant and an unsecured 10-year, low-interest promissory note. The grants were recognized within CARES Act credits in the Company’s condensed consolidated statements of operations over the periods they were intended to support payroll. See Note 7 for further information on the promissory notes entered into with the Treasury as a result of participation in the payroll support programs (collectively, the “PSP Promissory Notes”) and “Management’s Discussion and Analysis of Financial Condition and Results of Operations—COVID-19 Relief Funding” in the Company’s 2021 Annual Report for additional detail on the CARES Act and the PSPs. On September 28, 2020, the Company entered into a loan agreement with the Treasury for a term loan facility of up to $574 million pursuant to the secured loan program established under the CARES Act (the “Treasury Loan”). As of December 31, 2021, the Company had borrowed $150 million under the Treasury Loan, for which the right to draw any further funds lapsed in May 2021. On February 2, 2022, the Company repaid the Treasury Loan which included the $150 million principal balance along with accrued interest and associated fees of $1 million. On January 15, 2021, as a result of the Consolidated Appropriations Act, 2021 (the “PSP Extension Law”), which extended the PSP provisions of the CARES Act, the Company entered into an agreement with the Treasury for installment funding under the PSP2, under which the Company received $161 million, comprised of a $143 million grant (the “PSP2 Grant”) for the continuation of payroll support from the date of the agreement through March 31, 2021, and an $18 million unsecured 10-year, low-interest loan (the “PSP2 Promissory Note”), all of which was received during the six months ended June 30, 2021. The Company recognized $18 million and the full $143 million of PSP2 Grant proceeds, net of deferred financing costs, during the three and six months ended June 30, 2021, respectively, within CARES Act credits in the Company’s condensed consolidated statements of operations. The American Rescue Plan Act (the “ARP”), enacted on March 11, 2021, provided for additional assistance to passenger air carriers that received financial relief under PSP2. On April 29, 2021, the Company entered into an agreement with the Treasury for installment funding under the PSP3, under which the Company received $150 million, comprised of a $135 million grant (the “PSP3 Grant”) for the continuation of payroll support through September 30, 2021, and a $15 million unsecured 10-year, low-interest loan (the “PSP3 Promissory Note”), all of which was received during the six months ended June 30, 2021. The Company recognized $63 million of PSP3 Grant proceeds, net of deferred financing costs, during each of the three and six months ended June 30, 2021, within CARES Act credits in the Company’s condensed consolidated statements of operations. In connection with the Company’s participation in the PSPs and the Treasury Loan, the Company has been and will continue to be, as applicable, subject to certain restrictions and limitations, including, but not limited to: •restrictions on repurchases of equity securities listed on a national securities exchange or payment of dividends until February 2, 2023; •requirements to have maintained certain levels of scheduled services through March 31, 2022 (including to destinations where there may have been significantly reduced or no demand); •a prohibition on involuntary terminations or furloughs of employees (except for health, disability, cause, or certain disciplinary reasons) through September 30, 2021; •a prohibition on reducing the salary, wages or benefits of employees (other than executive officers or independent contractors, or as otherwise permitted under the terms of the PSPs) through September 30, 2021; •limits on certain executive compensation, including limiting pay increases and severance pay or other benefits upon terminations, until April 1, 2023; •limitations on the use of the grant funds exclusively for the continuation of payment of employee salaries, wages and benefits; and •additional reporting and recordkeeping requirements. As part of the PSP Promissory Notes and the Treasury Loan, the Company issued to the Treasury warrants to purchase 3,117,940 shares of FGHI common stock at a weighted average price of $6.95 per share. The initial fair value of these warrants upon issuance was treated as a loan discount, which reduced the carrying value of the related debt, and is amortized utilizing the effective interest method as interest expense in the Company’s condensed consolidated statements of operations over the term of each loan. These awards were originally classified as liability-based awards within other current liabilities on the Company’s condensed consolidated balance sheets, with periodic mark to market remeasurements being included in interest expense in the Company’s condensed consolidated statements of operations given the Company only had the option of settling in cash prior to being publicly traded. As a result of the IPO, the Company has the intent and ability to settle the warrants issued to the Treasury in shares and as a result, as of April 6, 2021, the Company reclassified the warrant liability to additional paid-in capital on the Company’s condensed consolidated balance sheet and is no longer required to mark to market the warrants. The Company recorded no mark to market adjustments during the three and six months ended June 30, 2022, and recorded $2 million and $22 million during the three and six months ended June 30, 2021, respectively, to interest expense within the Company’s condensed consolidated statements of operations. The Treasury has not exercised any warrants as of June 30, 2022. The CARES Act also provided for an employee retention credit (“CARES Employee Retention Credit”), which is a refundable tax credit against certain employment taxes that the Company qualified for beginning on April 1, 2020. In December 2020, the CARES Employee Retention Credit program was extended and enhanced through June 30, 2021. The ARP further extended the availability of the CARES Employee Retention Credit through December 31, 2021. As a result of the increase in revenues during the second quarter of 2021, the Company was no longer eligible for future credits due to the provisions of the gross receipt test applicable to this program. During the three and six months ended June 30, 2021, the Company recognized $6 million and $17 million, respectively, related to the CARES Employee Retention Credit within CARES Act credits in the Company’s condensed consolidated statements of operations.

Revenue Recognition

6 Months Ended

Jun. 30, 2022

Revenue from Contract with Customer [Abstract]

Revenue Recognition

As of December 31, 2021, the Company’s air traffic liability was $273 million. During the six months ended June 30, 2022, 91% of the air traffic liability as of December 31, 2021 has been recognized as passenger revenue within the Company’s condensed consolidated statements of operations. As of June 30, 2022, the Company’s air traffic liability was $372 million, of which $30 million was related to customer rights to book future travel, which either expire within 3 or 12 months after issuance if not redeemed by the customer. The amounts expected not to be redeemed are recognized over the historical pattern of rights exercised by customers to fare revenues in passenger revenues within the Company’s condensed consolidated statements of operations.

During the three and six months ended June 30, 2022 and 2021, the Company recognized $23 million, $45 million, $7 million and $17 million of revenue, respectively, in passenger revenues within the Company’s condensed consolidated statements of operations, primarily related to expected and actual expiration of customer rights to book future travel.

Frequent Flyer Program

The Company’s Frontier Miles frequent flyer program provides frequent flyer travel awards to program members based on accumulated mileage credits. Mileage credits are generally accumulated as a result of travel, purchases using the co-branded credit card and purchases from other participating partners.

The Company defers revenue for mileage credits earned by passengers under its Frontier Miles program based on the equivalent ticket value a passenger receives by redeeming mileage credits for a ticket rather than paying cash.

Mileage credits are also sold to participating companies, including credit card companies and other third parties. Sales to credit card companies include multiple promised goods and services, which the Company evaluates to determine whether they represent performance obligations. The Company determined these arrangements have three separate performance obligations: (i) mileage credits to be awarded, (ii) licensing of brand and access to member lists and (iii) advertising and marketing efforts. Total arrangement consideration is allocated to each performance obligation on the basis of the deliverables relative standalone selling price. For mileage credits, the Company considers a number of entity-specific factors when developing the best estimate of the standalone selling price, including the number of mileage credits needed to redeem an award, average fare of comparable segments, breakage and restrictions. For licensing of brand and access to member lists, the Company considers both market-specific factors and entity-specific factors, including general profit margins realized in the marketplace and industry, brand power, market royalty rates and size of customer base. For the advertising and marketing performance obligation, the Company considers market-specific factors and entity-specific factors, including the Company’s internal costs of providing services, volume of marketing efforts and overall advertising plan.

Consideration allocated based on the relative standalone selling price to both the brand licensing and access to member lists and advertising and marketing elements is recognized as other revenue in the Company’s condensed consolidated statements of operations over time as mileage credits are delivered. The consideration allocated to the transportation portion of these mileage credit sales is deferred and recognized as a component of passenger revenue

in the Company’s condensed consolidated statements of operations at the time of travel for mileage credits redeemed. Mileage credits that the Company estimates are not likely to be redeemed are subject to breakage and are recognized as a portion of passenger revenues in the Company’s condensed consolidated statements of operations in proportion to the pattern of rights exercised by customers. Management uses statistical models to estimate breakage based on historical redemption patterns. A change in assumptions as to the period over which mileage credits are expected to be redeemed, the actual redemption activity for mileage credits or the estimated fair value of mileage credits expected to be redeemed could have an impact on revenues in the year in which the change occurs and in future years. Redemptions are allocated between sold and flown mileage credits based on historical patterns.

As a result of the reduction in demand due to the COVID-19 pandemic, the Company extended the expiration dates of mileage credits issued under its frequent flyer program.

The Company has a credit card affinity agreement with its credit card partner Barclays Bank Delaware (“Barclays”) through 2029, which provides for joint marketing, grants certain benefits to co-branded credit card holders and allows Barclays to market using the Company’s customer database. Cardholders earn mileage credits under the Frontier Miles program and the Company sells mileage credits at agreed-upon rates to Barclays and earns fees from Barclays for the acquisition, retention and use of the co-branded credit card by consumers.

Operating revenues are comprised of passenger revenues, which includes fare and non-fare passenger revenues, and other revenues. Disaggregated operating revenues are as follows (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Passenger revenues:
Fare	$	420	$	214	$	649	$	314
Non-fare passenger revenues:
Service fees	201		142		363		204
Baggage	186		123		316		190
Seat selection	68		47		122		71
Other	15		10		28		19
Total non-fare passenger revenue	470		322		829		484
Total passenger revenues	890		536		1,478		798
Other revenues	19		14		36		23
Total operating revenues	$	909	$	550	$	1,514	$	821

The Company is managed as a single business unit that provides air transportation for passengers. Operating revenues by principal geographic region, as defined by the U.S. Department of Transportation (the “DOT”), are as follows (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Domestic	$	819	$	522	$	1,365	$	781
Latin America	90		28		149		40
Total operating revenues	$	909	$	550	$	1,514	$	821

During the three and six months ended June 30, 2022 and 2021, no revenue from any one foreign country, other than Mexico, represented greater than 5% of the Company’s total operating revenue. The Company attributes operating revenues by geographic region based upon the origin and destination of each passenger flight segment.

The Company’s tangible assets consist primarily of flight equipment, which are mobile across geographic markets. Accordingly, assets are not allocated to specific geographic regions.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-Section 50
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 13
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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-Topic 606
-SubTopic 10
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-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

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-Publisher FASB
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

+ Details

Other Current Assets

6 Months Ended

Jun. 30, 2022

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other Current Assets

Other Current AssetsOther current assets consist of the following (in millions):


	June 30, 2022		December 31, 2021
Prepaid expenses	$	22	$	14
Derivative instruments	8		—
Passenger and other taxes receivable	3		9
Income tax receivable	3		3
Other	35		14
Total other current assets	$	71	$	40

Financial Derivative Instruments and Risk Management

6 Months Ended

Jun. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Financial Derivative Instruments and Risk Management

The Company is exposed to variability in jet fuel prices. Aircraft fuel is one of the Company’s largest operating expenses. Increases in jet fuel prices may adversely impact its financial performance, operating cash flow and financial position. As part of its risk management program, the Company may enter into derivative contracts in order to limit exposure to the fluctuations in jet fuel prices. During the three and six months ended June 30, 2022 and 2021, the Company did not enter into fuel hedges and, therefore, paid no upfront premiums for fuel hedges.

Additionally, the Company may be exposed to interest rate risk through aircraft lease contracts for the time period between when an agreement of terms is executed and the commencement of the lease, when portions of rental payments can be adjusted and become fixed based on the seven- or nine-year swap rate. As part of its risk management program, the Company may enter into contracts in order to limit the exposure to fluctuations in interest rates. During the three and six months ended June 30, 2022 the Company paid upfront premiums of $9 million for the option to enter into and exercise cash-settled swaps with a forward starting effective date for seven of the Company’s future aircraft deliveries. As of June 30, 2022 the Company hedged the interest rate exposure on $245 million of total aircraft rent for seven aircraft to be delivered by the end of 2023. During the three and six months ended June 30, 2021, the Company did not enter into any swaps and therefore, paid no upfront premiums.

The Company formally designates and accounts for derivative instruments that meet established accounting criteria under ASC 815, Derivatives and Hedging, as cash flow hedges. For derivative instruments that are designated and qualify as cash flow hedges, the gain or loss on the derivative instruments is recorded in accumulated other comprehensive income/loss (“AOCI/L”), a component of stockholders’ equity on the Company’s condensed consolidated balance sheets. The Company recognizes the associated gains or losses deferred in AOCI/L as well as the amounts that are paid or received in connection with the purchase or sale of fuel-related financial derivative instruments (i.e., premium costs of option contracts) as a component of aircraft fuel expense within the Company’s condensed consolidated statements of operations in the period that the jet fuel subject to hedging is consumed. For interest rate derivatives, the Company recognizes the associated gains or losses deferred in AOCI/L as well as amounts that are paid or received in connection with the purchase or sale of interest rate derivative instruments (i.e., premium costs of swaption contracts) as a component of aircraft rent expense within the Company’s condensed consolidated statements of operations over the period of the related aircraft lease. The assets and liabilities associated with the Company’s fuel and interest rate derivative instruments are presented on a gross basis and include upfront premiums paid. These assets and liabilities are recorded as a component of other current assets and other current liabilities, respectively, on the Company’s condensed consolidated balance sheets. The Company does not enter into derivative instruments for speculative purposes.

The following table presents the assets associated with derivative instruments, which is presented on a gross basis and includes upfront premiums paid (in millions):


	Balance Sheet Classification	June 30, 2022		December 31, 2021
Derivatives designated as cash flow hedges:







Interest rate hedge assets	Other current assets	$	8	$	—

The following table presents the net of tax impact of the overall effectiveness of derivative instruments designated as cash flow hedging instruments under ASC 815 to the Company’s condensed consolidated statements of comprehensive income (loss) (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Derivatives designated as cash flow hedges
Amortization of swaption cash flow hedges, net of tax	$	1	$	1	$	1	$	1

Unrealized loss from cash flows hedges, net of tax	(1)		—		(1)		—
Total	$	—	$	1	$	—	$	1

As of June 30, 2022 and December 31, 2021, $10 million was included in AOCI/L related to interest rate hedging instruments that is expected to be reclassified into aircraft rent within the Company’s condensed consolidated statements of operations over the aircraft lease term for the respective hedging instrument.

The following table summarizes the effect of interest rate derivative instruments’ gains/(losses) reflected in aircraft rent expense within the Company’s condensed consolidated statements of operations (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Derivatives designated as cash flow hedges
Amortization of swaption cash flow hedges, net of tax	$	(1)	$	—	$	(1)	$	—

Other Current Liabilities

6 Months Ended

Jun. 30, 2022

Other Liabilities Disclosure [Abstract]

Other Current Liabilities

Other Current LiabilitiesOther current liabilities consist of the following (in millions):


	June 30, 2022		December 31, 2021
Passenger and other taxes and fees payable	$	110	$	84
Salaries, wages and benefits	93		89
Station obligations	58		64
Leased aircraft return costs	55		25
Fuel liabilities	53		23
Aircraft maintenance	45		36
Current portion of phantom equity units (Note 9)	—		26
Other current liabilities	47		36
Total other current liabilities	$	461	$	383

Debt

6 Months Ended

Jun. 30, 2022

Debt Disclosure [Abstract]

Debt

The Company’s debt obligations are as follows (in millions):


	June 30, 2022		December 31, 2021
Secured debt:
Pre-delivery credit facility(a)	$	221	$	174
Treasury Loan(b)	—		150
Floating rate building note(c)	18		18
Unsecured debt:
PSP Promissory Notes(d)	66		66
Affinity card advance purchase of mileage credits(e)	71		15
Total debt	376		423
Less current maturities of long-term debt, net	(161)		(127)
Less long-term debt acquisition costs and other discounts	(3)		(9)
Long-term debt, net	$	212	$	287

__________________

(a)The Company, through an affiliate, entered into the pre-delivery payment (“PDP”) facility with Citibank, N.A. in December 2014 (“PDP Financing Facility”). The PDP Financing Facility is collateralized by the Company’s purchase agreement for Airbus A320neo and A321neo aircraft deliveries through the term of the facility (see Note 10). In December 2020, the PDP Financing Facility was amended and restated to reduce the commitment of Citibank, N.A., as initial lender, to $150 million, remove the ability to draw further unsecured borrowings and to provide collateral for the borrowings not secured by aircraft outstanding as of that date. In May 2021, the Company amended the facility to increase the total available capacity to $200 million and expanded the number of financial institution participants as lenders. In December 2021, the facility was amended and restated to extend the availability of the facility through December 2024 to include additional 2023 and 2024 aircraft deliveries, and in March 2022 the facility was further amended to re-align the PDP Financing Facility with the updated future aircraft deliveries. In June 2022, the facility was amended and restated to extend the availability of the facility through December 2025 to include additional 2025 aircraft deliveries, to increase the total available capacity to $280 million, and to include the flexibility to potentially obtain additional commitments from other lenders. No commitments have been secured from other lenders as of June 30, 2022.

Interest is paid every 90 days based on the Secured Overnight Financing Rate ("SOFR") plus a margin for each individual tranche. The PDP Financing Facility consists of separate loans for each PDP aircraft. Each separate loan matures upon the earlier of (i) delivery of that aircraft to the Company by Airbus, (ii) the date one month following the last day of the scheduled delivery month of such aircraft and (iii) if there is a delay in delivery of aircraft, depending on the cause of the delivery delay, up to six months following the last day of the scheduled delivery month of such aircraft. The PDP Financing Facility will be repaid periodically according to the preceding sentence with the last scheduled delivery of aircraft contemplated in the PDP Financing Facility, as currently in effect, expected to be in the fourth quarter of 2025.

(b)On September 28, 2020, the Company entered into the Treasury Loan with the Treasury for a term loan facility of up to $574 million, and had borrowed $150 million under the loan as of December 31, 2021. On February 2, 2022, the Company repaid the Treasury Loan in full, along with accrued interest and associated fees of $1 million. Additionally, the Company recognized a $7 million loss on the extinguishment of debt for the six months ended June 30, 2022 from the write-off of unamortized deferred financing costs associated with the Treasury Loan. The repayment terminated the loan agreement with the Treasury and substantially unencumbered the Company’s co-branded credit card program and related brand assets that secured the Treasury Loan.

(c)Represents a note with a commercial bank related to the Company’s headquarters building. Under the terms of the agreement, the Company will repay the outstanding principal balance in quarterly payments beginning in January 2022 until the maturity date in December 2023. On the maturity date, one final balloon payment will be made to cover all unpaid principal, accrued unpaid interest and other amounts due. The interest rate of one-month LIBOR plus a margin is payable monthly.

(d)On April 30, 2020, the Company executed a promissory note under the PSP agreement with the Treasury from which the Company received a $33 million unsecured 10-year, low-interest loan (the “PSP Promissory Note”). Subsequently, the Company entered into the PSP2 with the Treasury in January 2021 and the PSP3 with the Treasury in April 2021, from which the Company received an additional $18 million and $15 million of proceeds, respectively, evidenced by promissory notes with the same terms as the original PSP Promissory Note. The PSP Promissory Notes include an annual interest rate of 1.00% for the first five years and the SOFR plus 2.00% in the final five years. The loans can be prepaid at par at any time without incurring a penalty.

(e)The Company entered into an agreement with Barclays in 2003 to provide for joint marketing, grant certain benefits to co-branded credit card holders (“Cardholders”), and allow Barclays to market using the Company’s customer database. Cardholders earn mileage credits under the Frontier Miles program and the Company sells mileage credits at agreed-upon rates to Barclays and earns fees from Barclays for the acquisition, retention and use of the co-branded credit card by consumers. In addition, Barclays will pre-purchase miles if the Company meets certain conditions precedent. On September 15, 2020 the Company entered into a new agreement with Barclays to amend and extend

the agreement to 2029. The pre-purchased miles facility amount is to be reset on January 15 of each calendar year through, and including, January 15, 2028 based on the aggregate amount of fees payable by Barclays to the Company on a calendar year basis, up to an aggregate maximum facility amount of $200 million. Per the terms of the Treasury Loan, the facility amount could not be extended above $15 million until full extinguishment of the Treasury Loan, which occurred in February 2022, and, as a result, the Company borrowed an additional $56 million in the first quarter of 2022. The Company pays interest on a monthly basis, which is based on a one-month LIBOR plus a margin. Beginning March 31, 2028, the facility is scheduled to be repaid in 12 equal monthly installments.

Cash payments for interest related to debt was $5 million and $2 million for the six months ended June 30, 2022 and 2021, respectively.

The Company has issued standby letters of credit and surety bonds to various airport authorities and vendors that are collateralized by restricted cash and as of June 30, 2022 and December 31, 2021, the Company did not have any outstanding letters of credit that were drawn upon.

As of June 30, 2022, future maturities of debt are payable as follows (in millions):


	June 30, 2022
Remainder of 2022	$	93
2023	134
2024	12
2025	—
2026	—
Thereafter	137
Total debt principal payments	$	376

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI https://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1E
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (i)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

+ Details

Operating Leases

6 Months Ended

Jun. 30, 2022

Leases [Abstract]

Operating Leases

The Company leases property and equipment under operating leases. For leases with initial terms greater than 12 months, the related operating lease right-of-use asset and corresponding operating lease liability are recorded at the present value of lease payments over the term on the Company’s condensed consolidated balance sheets. Some leases include rental escalation clauses, renewal options, termination options, and/or other items that cause variability that are factored into the determination of lease payments when appropriate. The Company does not separate lease and non-lease components of contracts, except for certain flight training equipment, for which consideration is allocated between lease and non-lease components.

Aircraft

As of June 30, 2022, the Company leased 114 aircraft with remaining terms ranging from one month to twelve years, all of which are under operating leases and are included within right-of-use asset and lease liabilities on the Company’s condensed consolidated balance sheets. In addition, as of June 30, 2022, the Company leased 24 spare engines, which are all under operating leases, with the remaining terms ranging from one month to twelve years. As of June 30, 2022, the lease rates for eight of the engines depend on usage-based metrics which are variable, and as such, these leases are not recorded on the Company’s condensed consolidated balance sheets as a right-of-use asset and lease liability.

During the three and six months ended June 30, 2022 and 2021, the Company executed sale-leaseback transactions with third-party lessors for three, five, five and eight new Airbus A320neo family aircraft, respectively. Additionally, the Company completed sale-leaseback transactions for two engines during each of the three and six months ended June 30, 2022, did not complete a sale-leaseback transaction for any engines during the three months ended June 30, 2021 and a completed sale-leaseback transaction for one engine during the six months ended June 30, 2021. All of the leases from sale-leaseback transactions have been accounted for as operating leases. The Company recognized net sale-leaseback gains of $21 million, $28 million, $21 million and $36 million during the

three and six months ended June 30, 2022 and 2021, respectively, which are included as a component of other operating expenses within the Company’s condensed consolidated statements of operations.

In May 2021, the Company entered into an early termination and buyout agreement with one of its lessors for six aircraft previously owned by the Company, which stipulated that four A319 aircraft originally scheduled to be returned in December 2021 would be returned during the second and third quarters of 2021 and the two A320ceo aircraft would return as scheduled during the fourth quarter of 2021. The early returns of these aircraft retired the remaining A319 aircraft in the Company’s fleet. As a result of this early termination and buyout arrangement, the Company recorded a $5 million and $9 million charge included as a component of rent expense within the Company’s condensed consolidated statements of operations for the three and six months ended June 30, 2021, respectively, related to the accelerated rent and lease return obligations of the A319 aircraft returned early.

Aircraft Rent Expense and Maintenance Obligations

During the three and six months ended June 30, 2022 and 2021, aircraft rent expense was $133 million, $261 million, $133 million and $271 million, respectively. Aircraft rent expense includes supplemental rent, which is made up of maintenance reserves paid or to be paid that are not probable of being reimbursed and probable lease return condition obligations. Supplemental rent expense (benefit) for maintenance-related reserves that were deemed non-recoverable and any impact from changes in those estimates, was ($1 million) and for each of the three and six months ended June 30, 2022 and less than $1 million and $1 million for the three and six months ended June 30, 2021, respectively. The portion of supplemental rent expense related to probable lease return condition obligations was $18 million, $33 million, $11 million and $25 million for three and six months ended June 30, 2022 and 2021, respectively.

Additionally, certain of the Company’s aircraft lease agreements require the Company to pay maintenance reserves to aircraft lessors to be held as collateral in advance of the Company’s required performance of major maintenance activities. As of June 30, 2022 and December 31, 2021, the Company had aircraft maintenance deposits that are expected to be recoverable of $110 million and $108 million, respectively, on the Company’s condensed consolidated balance sheets, of which $8 million and $10 million, respectively, are included in accounts receivable, net on the Company’s condensed consolidated balance sheets as the eligible maintenance has been performed. The remaining $102 million and $98 million are included within aircraft maintenance deposits on the Company’s condensed consolidated balance sheets as of June 30, 2022 and December 31, 2021, respectively.

A majority of these maintenance reserve payments are calculated based on a utilization measure, such as flight hours or cycles. Maintenance reserves collateralize the lessor for maintenance time run off the aircraft until the completion of the maintenance of the aircraft. As of June 30, 2022, fixed maintenance reserve payments for aircraft and spare engines, including estimated amounts for contractual price escalations, are expected to be $2 million for the remainder of 2022, $3 million per year for the years 2023 through 2026 and $9 million thereafter before consideration of reimbursements.

Airport Facilities

The Company’s facility leases are primarily for space at approximately 120 airports that are primarily located in the United States. These leases are classified as operating leases and reflect the use of airport terminals, ticket counters, office space, and maintenance facilities. Generally, this space is leased from government agencies that control the use of the airport. The majority of these leases are short-term in nature and renew on an evergreen basis. For these leases, the contractual term is used as the lease term. As of June 30, 2022, the remaining lease terms vary from one month to eleven years. At the majority of the U.S. airports, the lease rates depend on airport operating costs or use of the facilities and are reset at least annually, and because of the variable nature of the rates, these leases are not recorded on the Company’s condensed consolidated balance sheets as a right-of-use assets and lease liabilities.

Other Ground Property and Equipment

The Company leases certain other assets such as flight training equipment, building space, and various other equipment. Certain of the Company’s leases for other assets are deemed to contain fixed rental payments and, as such, are classified as operating leases and are recorded on the Company’s condensed consolidated balance sheets as a right-of-use asset and liability. The remaining lease terms range from one month to ten years as of June 30, 2022.

During June 2022, the Company entered into an arrangement with an existing vendor that provides access and use of certain components and maintenance services which modified the existing term by extending the agreement through 2031 and provided for more favorable pricing terms, including additional supplier credits to be recognized ratably over the term of the arrangement. As a result, the Company remeasured both its lease liability and right-of-use asset to reflect the extended terms and recorded a $22 million lease incentive as of June 30, 2022.

Lessor Concessions

In response to the COVID-19 pandemic, beginning in 2020, the Company was granted payment deferrals on leases included in the Company’s right-of-use assets for certain aircraft and engines from lessors along with airport facilities and other vendors that are not included in the Company’s right-of-use assets. As these deferred payments are made, the Company will recognize the deferred payments in aircraft rent or station operations, as applicable, in the Company’s condensed consolidated statements of operations. There were no additional aircraft or engine deferrals or paybacks, as the payback of all previous aircraft and engine deferrals was completed as of December 31, 2021, and, therefore, no impact to aircraft rent within the Company’s condensed consolidated statements of operations, for the three and six months ended June 30, 2022. The payback of station deferrals during the three and six months ended June 30, 2022, decreased operating cash flows and unfavorably impacted station operations within the Company’s results of operations by $1 million. The deferrals for the three and six months ended June 30, 2021 decreased operating cash flows and unfavorably impacted the Company’s results of operations by $9 million and $20 million, including a $10 million and $29 million unfavorable impact to aircraft rent and a $1 million and $9 million favorable impact to station operations, respectively. As of June 30, 2022, the Company had paid back all of its aircraft rent deferrals, and had $10 million in station deferrals which will be recognized to station operations within the Company’s condensed consolidated statements of operations in future periods as the deferrals are repaid.

Lease Costs

The table below presents certain information related to lease costs for operating leases during the three and six months ended June 30, 2022 and 2021 (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Operating lease cost(a)	$	118	$	134	$	235	$	241
Variable lease cost(a)	64		87		119		152
Total lease costs	$	182	$	221	$	354	$	393

______________

(a)Expenses are included within aircraft rent, station operations, maintenance materials and repairs and other operating within the Company’s condensed consolidated statements of operations.

During the three and six months ended June 30, 2022 and 2021, the Company acquired, through new operating leases, operating lease assets totaling $87 million, $148 million, $182 million and $302 million, respectively, which are included in operating lease right-of-use assets on the Company’s condensed consolidated balance sheets. During the three and six months ended June 30, 2022 and 2021, the Company paid cash of $119 million, $236 million, $115 million and $223 million, respectively, for amounts included in the measurement of lease liabilities.

Stock-Based Compensation and Stockholders’ Equity	6 Months Ended
Stock-Based Compensation and Stockholders’ Equity	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation and Stockholders’ Equity	Stock-Based Compensation and Stockholders’ Equity During the three and six months ended June 30, 2022 and 2021, the Company recognized $4 million, $7 million, $2 million and $5 million, respectively, in stock-based compensation expense, which is included as a component of salaries, wages and benefits within the Company’s condensed consolidated statements of operations. Stock Options and Restricted Awards In April 2014, the Company approved the 2014 Equity Incentive Plan (the “2014 Plan”). Under the terms of the 2014 Plan, 38 million shares of FGHI common stock were reserved for issuance. Concurrently with the Company’s IPO on April 1, 2021, the Company approved the 2021 Incentive Award Plan (the “2021 Plan”), which reserved 7 million shares of FGHI common stock for future issuance of stock-based compensation awards. Additionally, upon approval of the 2021 Plan, the 2014 Plan was terminated and the 11 million awards issued and outstanding as of the Company’s IPO from the 2014 Plan were retained for any subsequent exercise or vesting of such awards and no further grants will be made from the 2014 Plan. Any shares that are subsequently forfeited from the 2014 Plan will become available for future issuances under the 2021 Plan. Additional shares become available for issuance under the 2021 Plan based on an annual increase on the first day of each fiscal year beginning in 2022 and ending in 2031, equal to the lesser of (i) one percent (1%) of the shares of stock outstanding on the last day of the immediately preceding fiscal year and (ii) such smaller number of shares of stock as determined by the Company’s board of directors; provided, however, that no more than 30 million shares of stock may be issued upon the exercise of incentive stock options. On January 1, 2022, 2,170,650 shares were added to the 2021 Plan as a result of the annual increase. There were no stock options granted during the six months ended June 30, 2022. During the six months ended June 30, 2022, 124,411 vested stock options were exercised with a weighted average exercise price of $3.42 per share. As of June 30, 2022, the weighted average exercise price of outstanding options was $1.97 per share. During the six months ended June 30, 2022, 1,169,950 restricted stock units were issued with a weighted average grant date fair value of $12.12 per share. During the six months ended June 30, 2022, 772,224 restricted stock units vested, of which 286,294 restricted stock units were withheld to cover employee taxes with a weighted average grant date fair value of $12.53 and $12.27 per share, respectively. Phantom Equity Awards On December 3, 2013, to give effect to the reorganization of the Company’s corporate structure, an agreement was reached to amend and restate a phantom equity agreement with the Company’s pilots. Under the terms of this agreement, when an amendment to the underlying collective bargaining agreement was approved, the Company’s pilots employed in June 2011 (the “Participating Pilots”), through their agent, FAPAInvest, LLC, received phantom equity units. Each unit represented the right to receive common stock or cash in connection with certain events, including a qualifying IPO, such stock to be distributed or cash paid to the Participating Pilots in 2020 and 2022 based on a predetermined formula. In accordance with the amended and restated phantom equity agreement, the obligation became fixed as of December 31, 2019 and was no longer subject to valuation adjustments. As of December 31, 2021, the remaining liability was $26 million and presented within other current liabilities on the Company’s condensed consolidated balance sheet. During the six months ended June 30, 2022 the $26 million was fully paid. Stockholders’ Equity As of June 30, 2022 and December 31, 2021, the Company has authorized common stock (voting), common stock (non-voting) and preferred stock of 750,000,000, 150,000,000 and 10,000,000 shares, respectively, of which only common stock (voting) were issued and outstanding. All classes of equity have a par value of $0.001 per share.

Commitments and Contingencies

6 Months Ended

Jun. 30, 2022

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Flight Equipment Commitments

As of June 30, 2022, the Company’s firm aircraft and engine orders consisted of the following:


	A320neo	A321neo	Total Aircraft	Engines
Year Ending
Remainder of 2022	4	5	9	2
2023	—	21	21	4
2024	—	24	24	2
2025	17	13	30	4
2026	19	22	41	4
Thereafter	31	73	104	5
Total	71	158	229	21

During December 2017, the Company entered into an amendment to the previously existing master purchase agreement (“backlog aircraft”) with Airbus. Pursuant to this amendment and subsequent amendments, the Company has a commitment to purchase an incremental 67 A320neo and 67 A321neo aircraft (“incremental aircraft”) with deliveries expected to begin in September 2022, continuing through 2028. In November 2021, the Company entered into an amendment with Airbus to add an additional 91 A321neo aircraft (“supplemental aircraft”) to the committed purchase agreement, with deliveries expected to begin in 2023, continuing through 2029. The Company, at its option, has the right to convert 18 A320neo aircraft to A321XLR aircraft. The conversion right is available until December 31, 2022 and is not reflected in the table above as this option has not been exercised. The Company’s agreements with Airbus provide for, among other things, varying purchase incentives, which have been allocated proportionally and are accounted for as an offsetting reduction to the cost of the backlog A320neo aircraft and increase to the cost of the incremental A320neo aircraft. As a result, cash paid for backlog A320neo aircraft will be more than the associated capitalized cost of the aircraft and results in the recognition of a deferred purchase incentive within other assets on the Company’s condensed consolidated balance sheets, which will ultimately be offset by the lower cash payments in connection with the purchase of the incremental A320neo aircraft.

In April 2022, the agreement with Pratt & Whitney, the provider of engines for the Company’s incremental order book, was amended to include additional spare engine commitments and adjust the timing of remaining deliveries, which has been reflected in the table above.

As of June 30, 2022, purchase commitments for these aircraft and engines, including estimated amounts for contractual price escalations and PDPs, were approximately $509 million for the remainder of 2022, $1,227 million in 2023, $1,453 million in 2024, $1,770 million in 2025, $2,363 million in 2026 and $6,219 million thereafter.

During July 2021, the Company signed a letter of intent with two of its leasing partners to add ten additional A321neo aircraft through direct leases, with deliveries beginning in the second half of 2022 and continuing into the first half of 2023. As of June 30, 2022, lease agreements for all of the additional aircraft have been executed. None of these ten aircraft that will be acquired through direct leases are reflected in the table above given these are not committed purchase agreements.

Litigation and Other Contingencies

On March 12, 2021, the DOT advised the Company that it was in receipt of information indicating that the Company had failed to comply with certain DOT consumer protection requirements relating to consumer refund and credit practices and requested that the Company provide certain information to the DOT. The original DOT request

for information and subsequent correspondence and requests have been focused on the Company’s refund practices on Company initiated flight cancellations and/or significant schedule changes in flights as a result of the COVID-19 pandemic. The Company is fully cooperating with the DOT request and the review of this matter is still in process.

The Company is subject to commercial litigation claims and to administrative and regulatory proceedings and reviews that may be asserted or maintained from time to time. The Company regularly evaluates the status of such matters to assess whether a loss is probable and reasonably estimable in determining whether an accrual is appropriate. Furthermore, in determining whether disclosure is appropriate, the Company evaluates each matter to assess if there is at least a reasonable possibility that a loss or additional losses may have been incurred and whether an estimate of possible loss or range of loss can be made. The Company believes the ultimate outcome of such lawsuits, proceedings, and reviews will not, individually or in the aggregate, have a material adverse effect on its condensed consolidated financial position, liquidity, or results of operations and that the Company’s current accruals cover matters where loss is deemed probable and can be reasonably estimated.

The ultimate outcome of legal actions is unpredictable and can be subject to significant uncertainties, and it is difficult to determine whether any loss is probable or even possible. Additionally, it is also difficult to estimate the amount of loss and there may be matters for which a loss is probable or reasonably possible but not currently estimable. Thus, actual losses may be in excess of any recorded liability or the range of reasonably possible loss.

Employees

The Company has seven union-represented employee groups that together represent approximately 87% of all employees as of June 30, 2022. The table below sets forth the Company’s employee groups and status of the collective bargaining agreements as of June 30, 2022:

Percentage of Workforce

Employee Group

Representative

Amendable Date

June 30, 2022

Pilots

Air Line Pilots Association (ALPA)

January 2024

32%

Flight Attendants

Association of Flight Attendants (AFA-CWA)

May 2024

51%

Aircraft Technicians

International Brotherhood of Teamsters (IBT)

May 2025(a)

Aircraft Appearance Agents

IBT

October 2023

Dispatchers

Transport Workers Union (TWU)

December 2021(b)

Material Specialists

IBT

March 2022(b)

<1%

Maintenance Controllers

IBT

October 2023

<1%

__________________

(a)The Company conducted off-cycle negotiations with its aircraft technicians, represented by IBT, where the amendable date was extended from March 2024 to May 2025.

(b)The Company’s collective bargaining agreements with its dispatchers and material specialists, represented by TWU and IBT, respectively, were amendable as of June 30, 2022 and negotiations are ongoing, however, each agreement is operating under its current arrangement until an amendment has been reached.

The Company is self-insured for health care claims, subject to a stop-loss policy, for eligible participating employees and qualified dependent medical and dental claims, subject to deductibles and limitations. The Company’s liabilities for claims incurred but not reported are determined based on an estimate of the ultimate aggregate liability for claims incurred. The estimate is calculated from actual claim rates and adjusted periodically as necessary. The Company has accrued $5 million for health care claims including those estimated to be incurred but not yet paid as of June 30, 2022 and December 31, 2021, which is included as a component of other current liabilities on the Company’s condensed consolidated balance sheets.

General Indemnifications

The Company has various leases with respect to real property as well as various agreements among airlines relating to fuel consortia or fuel farms at airports. Under some of these contracts, the Company is party to joint and several liability regarding environmental damages. Under others, where the Company is a member of an LLC or other entity that contracts directly with the airport operator, liabilities are borne through the fuel consortia structure.

The Company’s aircraft, services, equipment lease and sale and financing agreements typically contain provisions requiring us, as the lessee, obligor or recipient of services, to indemnify the other parties to those agreements, including certain of those parties’ related persons, against virtually any liabilities that might arise from the use or operation of the aircraft or such other equipment. The Company believes that its insurance would cover most of its exposure to liabilities and related indemnities associated with the commercial real estate leases and aircraft, services, equipment lease and sale and financing agreements described above.

Certain of the Company’s aircraft and other financing transactions include provisions that require payments to preserve an expected economic return to the lenders if that economic return is diminished due to certain changes in law or regulations. In certain of these financing transactions and other agreements, the Company also bears the risk of certain changes in tax laws that would subject payments to non-U.S. entities to withholding taxes.

Certain of these indemnities survive the length of the related financing or lease. The Company cannot reasonably estimate the potential future payments under the indemnities and related provisions described above because it cannot predict (i) when and under what circumstances these provisions may be triggered, and (ii) the amount that would be payable if the provisions were triggered because the amounts would be based on facts and circumstances existing at such time.

Net Earnings (Loss) per Share

6 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

Net Earnings (Loss) per Share

Net Earnings (Loss) per ShareBasic and diluted earnings (loss) per share are computed pursuant to the two-class method. Under the two-class method, the Company attributes net income to common stock and other participating rights (including those with vested share-based awards). Basic net earnings per share is calculated by taking net income, less earnings allocated to participating rights, divided by the basic weighted average common stock outstanding. Net loss per share is calculated by taking net loss divided by basic weighted average common stock outstanding as participating rights do not share in losses. In accordance with the two-class method, diluted net earnings per share is calculated using the more dilutive impact of the treasury-stock method or from reducing net income for the earnings allocated to participating rights. The following table sets forth the computation of net earnings (loss) per share on a basic and

diluted basis pursuant to the two-class method for the periods indicated (in millions, except for share and per share data):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Basic:
Net income (loss)	$	13	$	19	$	(108)	$	(72)
Less: net income attributable to participating rights	—		(1)		—		—
Net income (loss) attributable to common stockholders	$	13	$	18	$	(108)	$	(72)
Weighted average common shares outstanding, basic	217,602,480		214,337,723		217,438,904		206,951,248
Net earnings (loss) per share, basic	$	0.06	$	0.08	$	(0.49)	$	(0.35)
Diluted:
Net income (loss)	$	13	$	19	$	(108)	$	(72)
Less: net income attributable to participating rights	—		(1)		—		—
Net income (loss) attributable to common stockholders	$	13	$	18	$	(108)	$	(72)
Weighted average common shares outstanding, basic	217,602,480		214,337,723		217,438,904		206,951,248
Effect of dilutive potential common shares	1,334,065		1,548,787		—		—
Weighted average common shares outstanding, diluted	218,936,545		215,886,510		217,438,904		206,951,248
Net earnings (loss) per share, diluted	$	0.06	$	0.08	$	(0.49)	$	(0.35)

Due to the net losses incurred during the six months ended June 30, 2022 and 2021, diluted weighted average shares outstanding are equal to basic weighted average shares outstanding given that the effect of all equity awards is anti-dilutive. Approximately 2,284,417 and 2,010,070 shares were excluded from the computation of diluted shares for the three months ended June 30, 2022 and 2021, respectively, as their impact would have been anti-dilutive.

Fair Value Measurements

6 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurements

Under ASC 820, Fair Value Measurements and Disclosures, disclosures relating to how fair value is determined for assets and liabilities are required, and a hierarchy for which these assets and liabilities must be grouped is established, based on significant levels of inputs, as follows:

Level 1—Quoted prices in active markets for identical assets or liabilities.

Level 2—Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Company utilizes several valuation techniques in order to assess the fair value of its financial assets and liabilities.

Cash, Cash Equivalents and Restricted Cash

Cash, cash equivalents and restricted cash are comprised of liquid money market funds, time deposits and cash, and are categorized as Level 1 instruments. The Company maintains cash with various high-quality financial institutions. Cash, cash equivalents and restricted cash are carried at cost, which management believes approximates fair value.

Interest Rate Swaption Derivative Instruments

Interest rate swaption contracts are valued under an income approach based on data either readily observable in public markets, derived from public markets or provided by counterparties who regularly trade in public markets; therefore, they are classified as Level 2 inputs. Given the swaptions will be cash settled upon exercise and that the market value will be done using overnight indexed swap (OIS) discounting, OIS discounting is applied to the income approach valuation.

Debt

The estimated fair value of the Company’s debt agreements has been determined to be Level 3 measurement, as certain inputs used to determine the fair value of these agreements are unobservable. The Company utilizes a discounted cash flow method to estimate the fair value of the Level 3 debt.

The carrying amounts and estimated fair values of the Company’s debt are as follows (in millions):


	June 30, 2022				December 31, 2021
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Secured debt:
Pre-delivery credit facility	$	221	$	219	$	174	$	175
Treasury Loan	—		—		150		156
Floating rate building note	18		18		18		19
Unsecured debt:
PSP Promissory Notes	66		47		66		58
Affinity card advance purchase of mileage credits	71		61		15		14
Total debt	$	376	$	345	$	423	$	422

The tables below present disclosures about the fair value of assets and liabilities measured at fair value on a recurring basis in the Company’s condensed consolidated financial statements (in millions):



		Fair Value Measurements as of June 30, 2022
Description	Balance Sheet Classification	Total		Level 1		Level 2		Level 3
Cash	Cash and cash equivalents	$	766	$	766	$	—	$	—
Interest rate derivative contracts	Other current assets	$	8	$	—	$	8	$	—


		Fair Value Measurements as of December 31, 2021
Description	Balance Sheet Classification	Total		Level 1		Level 2		Level 3
Cash	Cash and cash equivalents	$	918	$	918	$	—	$	—

The Company had no transfers of assets or liabilities between fair value hierarchy levels between December 31, 2021 and June 30, 2022.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Related Parties	6 Months Ended
Related Parties	Jun. 30, 2022
Related Party Transactions [Abstract]
Related Parties	Related Parties Management Services Indigo Partners, LLC (“Indigo Partners”) manages an investment fund that is the controlling stockholder of the Company. The Company is assessed a quarterly fee to Indigo Partners for management services. The Company recorded $1 million for each of the three and six months ended June 30, 2022 and 2021 for these fees, which are included as other operating expenses within the Company’s condensed consolidated statements of operations. Codeshare Arrangement The Company entered into a codeshare agreement with Controladora Vuela Compañía de Aviación, S.A.B. de C.V. (an airline based in Mexico doing business as “Volaris”) during 2018, under which sales began in July 2018. Two of the Company’s directors are members of the board of directors of Volaris. As of June 30, 2022, Indigo Partners holds approximately 18% of the total outstanding common stock of Volaris. In August 2018, the Company and Volaris began operating scheduled codeshare flights. The codeshare agreement provides for codeshare fees and revenue sharing for the codeshare flights. Each party bears its own costs and expenses of performance under the agreement, is required to indemnify the other party for certain claims and losses arising out of or related to the agreement and is responsible for complying with certain marketing and product display guidelines. The codeshare agreement also establishes a joint management committee, which includes representatives from both parties and generally oversees the management of the transactions and relationships contemplated by the agreement. The codeshare agreement is subject to automatic renewals and may be terminated by either party at any time upon the satisfaction of certain conditions.

The Proposed Merger with Spirit Airlines, Inc.	6 Months Ended
The Proposed Merger with Spirit Airlines, Inc.	Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract]
The Proposed Merger with Spirit Airlines, Inc.	The Proposed Merger with Spirit Airlines, Inc. On February 5, 2022, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Top Gun Acquisition Corp. (“Merger Sub”), a direct wholly-owned subsidiary of the Company, and Spirit Airlines, Inc. (“Spirit”). The Merger Agreement provided that, among other things, the Merger Sub would be merged with and into Spirit (the “Merger”), with Spirit surviving the Merger and continuing as a wholly-owned subsidiary of the Company. During the three and six months ended June 30, 2022, the Company recorded $9 million and $20 million, respectively, of expenses related to the proposed Merger within transaction and merger-related costs in the Company’s condensed consolidated statement of operations, which included $4 million and $12 million, respectively, related to transaction costs, which include banking, legal and accounting fees, among others, charged in connection with the Merger, and $5 million and $8 million, respectively, of retention bonus expenses. As of June 30, 2022, the Company had capitalized $2 million of costs incurred related to the proposed equity issuance as a component of other current assets on the Company’s condensed consolidated balance sheet. On July 27, 2022, the Company and Spirit mutually terminated the Merger Agreement. As a result, the Company expects to record in the third quarter of 2022 approximately $9 million of employee retention costs, which include an acceleration of 50% of the Merger-related retention costs that are due and payable upon termination of the Merger to all eligible employees who are not impacted by CARES Act compensation restrictions, a write-off of the capitalized deferred equity issuance costs of $2 million and other legal and professional fees associated with the termination of the Merger Agreement. Further, Spirit is obligated to reimburse $25 million of the Company’s incurred Merger-related expenses. In the event that Spirit, within twelve months following the termination of the Merger Agreement, consummates an acquisition proposal with another acquiror or enters into a definitive written agreement providing for the consummation of an acquisition proposal with another acquiror which is ultimately consummated, the Company will be owed an additional $69 million, as provided for in the Merger Agreement.

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of PresentationThe condensed consolidated financial statements have been prepared in accordance with the generally accepted accounting principles in the United States (“GAAP”)
Consolidation, Policy	Basis of Presentation The condensed consolidated financial statements have been prepared in accordance with the generally accepted accounting principles in the United States (“GAAP”) and include the accounts of Frontier Group Holdings, Inc. (“FGHI” or the “Company”) and its wholly-owned direct and indirect subsidiaries, including Frontier Airlines Holdings, Inc. (“FAH”) and Frontier Airlines, Inc. (“Frontier”). All wholly-owned subsidiaries are consolidated, with all intercompany transactions and balances being eliminated.
Use of Estimates	Use of EstimatesThe preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts in the financial statements and accompanying notes. Actual results could differ from those estimates.
Frequent Flyer Program	Frequent Flyer Program The Company’s Frontier Miles frequent flyer program provides frequent flyer travel awards to program members based on accumulated mileage credits. Mileage credits are generally accumulated as a result of travel, purchases using the co-branded credit card and purchases from other participating partners. The Company defers revenue for mileage credits earned by passengers under its Frontier Miles program based on the equivalent ticket value a passenger receives by redeeming mileage credits for a ticket rather than paying cash. Mileage credits are also sold to participating companies, including credit card companies and other third parties. Sales to credit card companies include multiple promised goods and services, which the Company evaluates to determine whether they represent performance obligations. The Company determined these arrangements have three separate performance obligations: (i) mileage credits to be awarded, (ii) licensing of brand and access to member lists and (iii) advertising and marketing efforts. Total arrangement consideration is allocated to each performance obligation on the basis of the deliverables relative standalone selling price. For mileage credits, the Company considers a number of entity-specific factors when developing the best estimate of the standalone selling price, including the number of mileage credits needed to redeem an award, average fare of comparable segments, breakage and restrictions. For licensing of brand and access to member lists, the Company considers both market-specific factors and entity-specific factors, including general profit margins realized in the marketplace and industry, brand power, market royalty rates and size of customer base. For the advertising and marketing performance obligation, the Company considers market-specific factors and entity-specific factors, including the Company’s internal costs of providing services, volume of marketing efforts and overall advertising plan. Consideration allocated based on the relative standalone selling price to both the brand licensing and access to member lists and advertising and marketing elements is recognized as other revenue in the Company’s condensed consolidated statements of operations over time as mileage credits are delivered. The consideration allocated to the transportation portion of these mileage credit sales is deferred and recognized as a component of passenger revenue in the Company’s condensed consolidated statements of operations at the time of travel for mileage credits redeemed. Mileage credits that the Company estimates are not likely to be redeemed are subject to breakage and are recognized as a portion of passenger revenues in the Company’s condensed consolidated statements of operations in proportion to the pattern of rights exercised by customers. Management uses statistical models to estimate breakage based on historical redemption patterns. A change in assumptions as to the period over which mileage credits are expected to be redeemed, the actual redemption activity for mileage credits or the estimated fair value of mileage credits expected to be redeemed could have an impact on revenues in the year in which the change occurs and in future years. Redemptions are allocated between sold and flown mileage credits based on historical patterns. As a result of the reduction in demand due to the COVID-19 pandemic, the Company extended the expiration dates of mileage credits issued under its frequent flyer program. The Company has a credit card affinity agreement with its credit card partner Barclays Bank Delaware (“Barclays”) through 2029, which provides for joint marketing, grants certain benefits to co-branded credit card holders and allows Barclays to market using the Company’s customer database. Cardholders earn mileage credits under the Frontier Miles program and the Company sells mileage credits at agreed-upon rates to Barclays and earns fees from Barclays for the acquisition, retention and use of the co-branded credit card by consumers.
Operating Leases	The Company leases property and equipment under operating leases. For leases with initial terms greater than 12 months, the related operating lease right-of-use asset and corresponding operating lease liability are recorded at the present value of lease payments over the term on the Company’s condensed consolidated balance sheets. Some leases include rental escalation clauses, renewal options, termination options, and/or other items that cause variability that are factored into the determination of lease payments when appropriate. The Company does not separate lease and non-lease components of contracts, except for certain flight training equipment, for which consideration is allocated between lease and non-lease components.
Fair Value Measurement	Under ASC 820, Fair Value Measurements and Disclosures, disclosures relating to how fair value is determined for assets and liabilities are required, and a hierarchy for which these assets and liabilities must be grouped is established, based on significant levels of inputs, as follows: Level 1—Quoted prices in active markets for identical assets or liabilities. Level 2—Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Company utilizes several valuation techniques in order to assess the fair value of its financial assets and liabilities. Cash, Cash Equivalents and Restricted Cash Cash, cash equivalents and restricted cash are comprised of liquid money market funds, time deposits and cash, and are categorized as Level 1 instruments. The Company maintains cash with various high-quality financial institutions. Cash, cash equivalents and restricted cash are carried at cost, which management believes approximates fair value. Interest Rate Swaption Derivative Instruments Interest rate swaption contracts are valued under an income approach based on data either readily observable in public markets, derived from public markets or provided by counterparties who regularly trade in public markets; therefore, they are classified as Level 2 inputs. Given the swaptions will be cash settled upon exercise and that the market value will be done using overnight indexed swap (OIS) discounting, OIS discounting is applied to the income approach valuation. Debt The estimated fair value of the Company’s debt agreements has been determined to be Level 3 measurement, as certain inputs used to determine the fair value of these agreements are unobservable. The Company utilizes a discounted cash flow method to estimate the fair value of the Level 3 debt.

- Definition

Disclosure of accounting policy for revenue from contract with customer.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 17
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130561-203045

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 20
-Subparagraph (d)
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
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-Paragraph 18
-Subparagraph (b)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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-Paragraph 4
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-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
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-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130564-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 20
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130566-203045

+ Details

Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 2022

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

Disaggregated operating revenues are as follows (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Passenger revenues:
Fare	$	420	$	214	$	649	$	314
Non-fare passenger revenues:
Service fees	201		142		363		204
Baggage	186		123		316		190
Seat selection	68		47		122		71
Other	15		10		28		19
Total non-fare passenger revenue	470		322		829		484
Total passenger revenues	890		536		1,478		798
Other revenues	19		14		36		23
Total operating revenues	$	909	$	550	$	1,514	$	821

Revenue by Geographic Region

Operating revenues by principal geographic region, as defined by the U.S. Department of Transportation (the “DOT”), are as follows (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Domestic	$	819	$	522	$	1,365	$	781
Latin America	90		28		149		40
Total operating revenues	$	909	$	550	$	1,514	$	821

Other Current Assets (Tables)

6 Months Ended

Jun. 30, 2022

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of Other Current Assets

Other current assets consist of the following (in millions):


	June 30, 2022		December 31, 2021
Prepaid expenses	$	22	$	14
Derivative instruments	8		—
Passenger and other taxes receivable	3		9
Income tax receivable	3		3
Other	35		14
Total other current assets	$	71	$	40

Financial Derivative Instruments and Risk Management (Tables)

6 Months Ended

Jun. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Cash Flow Hedges Presented as Components of Other Current Assets and Liabilities

The following table presents the assets associated with derivative instruments, which is presented on a gross basis and includes upfront premiums paid (in millions):


	Balance Sheet Classification	June 30, 2022		December 31, 2021
Derivatives designated as cash flow hedges:







Interest rate hedge assets	Other current assets	$	8	$	—

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Derivatives designated as cash flow hedges
Amortization of swaption cash flow hedges, net of tax	$	1	$	1	$	1	$	1

Unrealized loss from cash flows hedges, net of tax	(1)		—		(1)		—
Total	$	—	$	1	$	—	$	1

Schedule of Effect of Fuel and Interest Rate Derivative Instruments Reflected in Aircraft Fuel and Rent Expense


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Derivatives designated as cash flow hedges
Amortization of swaption cash flow hedges, net of tax	$	(1)	$	—	$	(1)	$	—

Other Current Liabilities (Tables)

6 Months Ended

Jun. 30, 2022

Other Liabilities Disclosure [Abstract]

Schedule of Other Current Liabilities

Other current liabilities consist of the following (in millions):


	June 30, 2022		December 31, 2021
Passenger and other taxes and fees payable	$	110	$	84
Salaries, wages and benefits	93		89
Station obligations	58		64
Leased aircraft return costs	55		25
Fuel liabilities	53		23
Aircraft maintenance	45		36
Current portion of phantom equity units (Note 9)	—		26
Other current liabilities	47		36
Total other current liabilities	$	461	$	383

Debt (Tables)

6 Months Ended

Jun. 30, 2022

Debt Disclosure [Abstract]

Schedule of Debt Obligations

The Company’s debt obligations are as follows (in millions):


	June 30, 2022		December 31, 2021
Secured debt:
Pre-delivery credit facility(a)	$	221	$	174
Treasury Loan(b)	—		150
Floating rate building note(c)	18		18
Unsecured debt:
PSP Promissory Notes(d)	66		66
Affinity card advance purchase of mileage credits(e)	71		15
Total debt	376		423
Less current maturities of long-term debt, net	(161)		(127)
Less long-term debt acquisition costs and other discounts	(3)		(9)
Long-term debt, net	$	212	$	287

__________________

Schedule of Maturities of Long-term Debt

As of June 30, 2022, future maturities of debt are payable as follows (in millions):


	June 30, 2022
Remainder of 2022	$	93
2023	134
2024	12
2025	—
2026	—
Thereafter	137
Total debt principal payments	$	376

Operating Leases (Tables)

6 Months Ended

Jun. 30, 2022

Leases [Abstract]

Schedule of Lease Costs

The table below presents certain information related to lease costs for operating leases during the three and six months ended June 30, 2022 and 2021 (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Operating lease cost(a)	$	118	$	134	$	235	$	241
Variable lease cost(a)	64		87		119		152
Total lease costs	$	182	$	221	$	354	$	393

______________(a)Expenses are included within aircraft rent, station operations, maintenance materials and repairs and other operating within the Company’s condensed consolidated statements of operations.

Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2022

Commitments and Contingencies Disclosure [Abstract]

Long-term Purchase Commitment

As of June 30, 2022, the Company’s firm aircraft and engine orders consisted of the following:


	A320neo	A321neo	Total Aircraft	Engines
Year Ending
Remainder of 2022	4	5	9	2
2023	—	21	21	4
2024	—	24	24	2
2025	17	13	30	4
2026	19	22	41	4
Thereafter	31	73	104	5
Total	71	158	229	21

Multiemployer Plan

The table below sets forth the Company’s employee groups and status of the collective bargaining agreements as of June 30, 2022:

Percentage of Workforce

Employee Group

Representative

Amendable Date

June 30, 2022

Pilots

Air Line Pilots Association (ALPA)

January 2024

32%

Flight Attendants

Association of Flight Attendants (AFA-CWA)

May 2024

51%

Aircraft Technicians

International Brotherhood of Teamsters (IBT)

May 2025(a)

Aircraft Appearance Agents

IBT

October 2023

Dispatchers

Transport Workers Union (TWU)

December 2021(b)

Material Specialists

IBT

March 2022(b)

<1%

Maintenance Controllers

IBT

October 2023

<1%

__________________

(a)The Company conducted off-cycle negotiations with its aircraft technicians, represented by IBT, where the amendable date was extended from March 2024 to May 2025.

- Definition

Tabular disclosure of information about multiemployer plan.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 80
-Section 50
-Paragraph 5
-Subparagraph (f)(2)
-URI https://asc.fasb.org/extlink&oid=65877416&loc=SL14450657-114947

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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-Section 50
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-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=65877416&loc=SL14450657-114947

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-SubTopic 80
-Section 50
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=65877416&loc=SL14450657-114947

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Section 50
-Paragraph 5
-Subparagraph (e)(2)
-URI https://asc.fasb.org/extlink&oid=65877416&loc=SL14450657-114947

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 80
-Section 50
-Paragraph 9
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-URI https://asc.fasb.org/extlink&oid=65877416&loc=SL14450691-114947

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 80
-Section 50
-Paragraph 5
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-URI https://asc.fasb.org/extlink&oid=65877416&loc=SL14450657-114947

+ Details

Net Earnings (Loss) per Share (Tables)

6 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

Schedule Of Earnings Per Share Basic And Diluted

The following table sets forth the computation of net earnings (loss) per share on a basic and

diluted basis pursuant to the two-class method for the periods indicated (in millions, except for share and per share data):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Basic:
Net income (loss)	$	13	$	19	$	(108)	$	(72)
Less: net income attributable to participating rights	—		(1)		—		—
Net income (loss) attributable to common stockholders	$	13	$	18	$	(108)	$	(72)
Weighted average common shares outstanding, basic	217,602,480		214,337,723		217,438,904		206,951,248
Net earnings (loss) per share, basic	$	0.06	$	0.08	$	(0.49)	$	(0.35)
Diluted:
Net income (loss)	$	13	$	19	$	(108)	$	(72)
Less: net income attributable to participating rights	—		(1)		—		—
Net income (loss) attributable to common stockholders	$	13	$	18	$	(108)	$	(72)
Weighted average common shares outstanding, basic	217,602,480		214,337,723		217,438,904		206,951,248
Effect of dilutive potential common shares	1,334,065		1,548,787		—		—
Weighted average common shares outstanding, diluted	218,936,545		215,886,510		217,438,904		206,951,248
Net earnings (loss) per share, diluted	$	0.06	$	0.08	$	(0.49)	$	(0.35)

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

The carrying amounts and estimated fair values of the Company’s debt are as follows (in millions):


	June 30, 2022				December 31, 2021
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Secured debt:
Pre-delivery credit facility	$	221	$	219	$	174	$	175
Treasury Loan	—		—		150		156
Floating rate building note	18		18		18		19
Unsecured debt:
PSP Promissory Notes	66		47		66		58
Affinity card advance purchase of mileage credits	71		61		15		14
Total debt	$	376	$	345	$	423	$	422

Schedule of Fair Value of Assets and Liabilities Measured at Fair Value on a Recurring Basis



		Fair Value Measurements as of June 30, 2022
Description	Balance Sheet Classification	Total		Level 1		Level 2		Level 3
Cash	Cash and cash equivalents	$	766	$	766	$	—	$	—
Interest rate derivative contracts	Other current assets	$	8	$	—	$	8	$	—


		Fair Value Measurements as of December 31, 2021
Description	Balance Sheet Classification	Total		Level 1		Level 2		Level 3
Cash	Cash and cash equivalents	$	918	$	918	$	—	$	—

Summary of Significant Accounting Policies - Basis of Presentation (Details)	6 Months Ended
	Jun. 30, 2022 airport reportableSegment
Accounting Policies [Abstract]
Number of airports served \| airport	120
Number of reportable segments \| reportableSegment	1

Summary of Significant Accounting Policies - Initial Public Offering (Details) $ in Millions	1 Months Ended
	Apr. 30, 2021 USD ($)
Class of Stock [Line Items]
Underwriting discounts and commissions	$ 14
Offering costs	5
IPO
Class of Stock [Line Items]
Proceeds from initial public offering, net of underwriting discounts and offering expenses	$ 266

Impact of COVID-19 - COVID-19 Relief Funding (Details) - USD ($)		3 Months Ended		5 Months Ended	6 Months Ended
	Feb. 02, 2022	Jun. 30, 2022	Jun. 30, 2021	Sep. 30, 2021	Jun. 30, 2022	Sep. 30, 2021	Jun. 30, 2021	Jun. 30, 2021	Dec. 31, 2021	Sep. 28, 2020
Unusual Risk or Uncertainty [Line Items]
Long-term debt, gross		$ 376,000,000			$ 376,000,000				$ 423,000,000
Principal repayments on debt					189,000,000		$ 60,000,000
Interest paid					5,000,000		2,000,000
CARES Act credits		0	$ (87,000,000)		0		(223,000,000)
Mark to market adjustment on warrant		$ 0	2,000,000		$ 0		22,000,000
Employee retention credit			6,000,000				17,000,000
The Coronavirus Aid, Relief, and Economic Security Act \| Consolidated Appropriations Act of 2021 - PSP 2
Unusual Risk or Uncertainty [Line Items]
Funding received								$ 161,000,000
Proceeds from Payroll Support Program grant							143,000,000
The American Rescue Plan Act \| American Rescue Plan Act - PSP 3
Unusual Risk or Uncertainty [Line Items]
Funding received				$ 150,000,000
Proceeds from Payroll Support Program grant						$ 135,000,000
CARES Act credits			63,000,000				63,000,000
CARES Act Credit Agreement, Warrants
Unusual Risk or Uncertainty [Line Items]
Warrants to acquire common stock (in shares)										3,117,940
Exercise price of warrants (in dollars per share)										$ 6.95
Number of warrants exercised (in shares)		0			0
Line of Credit \| CARES Credit Agreement
Unusual Risk or Uncertainty [Line Items]
Term loan amount										$ 574,000,000
Long-term debt, gross									$ 150,000,000
Principal repayments on debt	$ 150,000,000
Interest paid	$ 1,000,000
Unsecured Debt \| Consolidated Appropriations Act of 2021 - PSP 2
Unusual Risk or Uncertainty [Line Items]
Unsecured low interest loan amount			$ 18,000,000				$ 18,000,000
Term of grant							10 years

Revenue Recognition - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Capitalized Contract Cost [Line Items]
Air traffic liability	$ 372		$ 372		$ 273
Customer rights to book future travel	30		30
Passenger revenue recognized	$ 23	$ 7	$ 45	$ 17
Minimum
Capitalized Contract Cost [Line Items]
Future travel credit balance, expiration period			3 months
Maximum
Capitalized Contract Cost [Line Items]
Future travel credit balance, expiration period			12 months
Passenger
Capitalized Contract Cost [Line Items]
Air traffic liability recognized as passenger revenue			91.00%

Revenue Recognition - Disaggregated Operating Revenues (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Total operating revenues	$ 909	$ 550	$ 1,514	$ 821
Total passenger revenues
Disaggregation of Revenue [Line Items]
Total operating revenues	890	536	1,478	798
Fare
Disaggregation of Revenue [Line Items]
Total operating revenues	420	214	649	314
Total non-fare passenger revenue
Disaggregation of Revenue [Line Items]
Total operating revenues	470	322	829	484
Service fees
Disaggregation of Revenue [Line Items]
Total operating revenues	201	142	363	204
Baggage
Disaggregation of Revenue [Line Items]
Total operating revenues	186	123	316	190
Seat selection
Disaggregation of Revenue [Line Items]
Total operating revenues	68	47	122	71
Other
Disaggregation of Revenue [Line Items]
Total operating revenues	15	10	28	19
Other revenues
Disaggregation of Revenue [Line Items]
Total operating revenues	$ 19	$ 14	$ 36	$ 23

Revenue Recognition - Operating Revenues by Principal Geographic Region (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Total operating revenues	$ 909	$ 550	$ 1,514	$ 821
Domestic
Disaggregation of Revenue [Line Items]
Total operating revenues	819	522	1,365	781
Latin America
Disaggregation of Revenue [Line Items]
Total operating revenues	$ 90	$ 28	$ 149	$ 40

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI https://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Other Current Assets (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid expenses	$ 22	$ 14
Derivative instruments	8	0
Passenger and other taxes receivable	3	9
Income tax receivable	3	3
Other	35	14
Total other current assets	$ 71	$ 40

Financial Derivative Instruments and Risk Management (Details)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022 USD ($) aircraft	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) aircraft	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Fuel Derivative Contracts
Derivative [Line Items]
Cost of swap	$ 0	$ 0	$ 0	$ 0
Interest Rate Swap
Derivative [Line Items]
Cost of swap	$ 9,000,000	$ 0	$ 9,000,000	$ 0
Future aircraft deliveries with option to enter into and exercise cash settled swaps \| aircraft	7		7
Notional amount	$ 245,000,000		$ 245,000,000
Unrealized losses from cash flow hedges net of adjustment for dedesignation of fuel hedges, net of deferred tax benefit			$ 10,000,000		$ 10,000,000
Minimum
Derivative [Line Items]
Interest rate risk, time period between agreements			7 years
Maximum
Derivative [Line Items]
Interest rate risk, time period between agreements			9 years

Financial Derivative Instruments and Risk Management - Assets and Liabilities Associated with Fuel and Interest Rate Derivative Instruments (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Interest Rate Swap \| Other Noncurrent Assets
Derivative [Line Items]
Derivative, other current assets	$ 8,000,000	$ 0

Financial Derivative Instruments and Risk Management - Net of Tax Impact of the Overall Effectiveness of Derivative Instruments Designated as Cash Flow Hedging Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amortization of swaption cash flow hedges, net of tax	$ 1,000	$ 1,000
Gain (loss) on interest rate derivative contracts	(1,000)
Total	0	1,000	$ 0	$ 1,000
Interest Rate Swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amortization of swaption cash flow hedges, net of tax	1,000	1,000	1,000	1,000
Gain (loss) on interest rate derivative contracts	$ (1,000)	$ 0	$ (1,000)	$ 0

Financial Derivative Instruments and Risk Management - Effect of Fuel and Interest Rate Derivative Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Interest Rate Swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amortization of swaption cash flow hedges, net of tax	$ (1,000)	$ 0	$ (1,000)	$ 0

Other Current Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Other Liabilities Disclosure [Abstract]
Passenger and other taxes and fees payable	$ 110	$ 84
Salaries, wages and benefits	93	89
Station obligations	58	64
Leased aircraft return costs	55	25
Fuel liabilities	53	23
Aircraft maintenance	45	36
Current portion of phantom equity units	0	26
Other current liabilities	47	36
Total other current liabilities	$ 461	$ 383

Debt - Schedule of Debt Obligations (Details) - USD ($) $ in Thousands			3 Months Ended		6 Months Ended
	Feb. 02, 2022	Apr. 30, 2020	Mar. 31, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	May 31, 2021	Dec. 31, 2020	Sep. 28, 2020	Sep. 15, 2020
Debt Instrument [Line Items]
Long-term debt, gross					$ 376,000		$ 423,000
Less current maturities of long-term debt, net					(161,000)		(127,000)
Less long-term debt acquisition costs and other discounts					(3,000)		(9,000)
Long-term debt, net					212,000		287,000
Interest paid					5,000	$ 2,000
Loss on extinguishment of debt					7,000	0
Secured Debt \| Pre-delivery credit facility
Debt Instrument [Line Items]
Long-term debt, gross					221,000		174,000
Amount of unsecured borrowings available					280,000			$ 200,000	$ 150,000
Commitments secured from lenders					$ 0
Periodic payment, interest, period					90 days
Secured Debt \| Treasury Loan
Debt Instrument [Line Items]
Long-term debt, gross					$ 0		150,000
Secured Debt \| Floating rate building note
Debt Instrument [Line Items]
Long-term debt, gross					18,000		18,000
Line of Credit \| Treasury Loan
Debt Instrument [Line Items]
Long-term debt, gross							150,000
Amount of unsecured borrowings available										$ 574,000
Interest paid	$ 1,000
Loss on extinguishment of debt					7,000
Unsecured Debt \| PSP Promissory Notes
Debt Instrument [Line Items]
Long-term debt, gross					$ 66,000		66,000
Interest rate					1.00%
Interest rate period					5 years
Unsecured Debt \| PSP Promissory Notes \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Debt instrument, variable interest rate					2.00%
Unsecured Debt \| PSP1 Promissory Note
Debt Instrument [Line Items]
Unsecured low interest loan amount		$ 33,000
Loan term		10 years
Unsecured Debt \| Consolidated Appropriations Act of 2021 - PSP 2
Debt Instrument [Line Items]
Unsecured low interest loan amount				$ 18,000		$ 18,000
Loan term						10 years
Unsecured Debt \| PSP3 Promissory Note
Debt Instrument [Line Items]
Unsecured low interest loan amount						$ 15,000
Unsecured Debt \| Affinity card advance purchase of mileage credits
Debt Instrument [Line Items]
Long-term debt, gross					$ 71,000		$ 15,000
Amount of unsecured borrowings available											$ 200,000
Borrowing capacity triggering full extinguishment of debt										$ 15,000
Proceeds from issuance of debt, net of issuance costs			$ 56,000

Debt - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Debt Disclosure [Abstract]
Interest paid	$ 5	$ 2

Debt - Schedule of Maturity (Details) $ in Millions	Jun. 30, 2022 USD ($)
Debt Disclosure [Abstract]
Remainder of 2022	$ 93
2023	134
2024	12
2025	0
2026	0
Thereafter	137
Total debt principal payments	$ 376

- Definition

Amount, excluding unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Operating Leases - Aircraft (Details) $ in Millions	3 Months Ended		6 Months Ended
Operating Leases - Aircraft (Details) $ in Millions	Jun. 30, 2022 USD ($) aircraft aircraftEngine	Jun. 30, 2021 USD ($) aircraft aircraftEngine	Jun. 30, 2022 USD ($) aircraft aircraftEngine	Jun. 30, 2021 USD ($) aircraft aircraftEngine	Dec. 31, 2021 aircraft	May 31, 2021 aircraft
Lessee, Lease, Description [Line Items]
Gains recognized on sale-leaseback transactions \| $			$ 28	$ 36
Number of aircraft terminated						6
Aircraft
Lessee, Lease, Description [Line Items]
Number of leases	114		114
Aircraft \| Minimum
Lessee, Lease, Description [Line Items]
Remaining lease terms	1 month		1 month
Aircraft \| Maximum
Lessee, Lease, Description [Line Items]
Remaining lease terms	12 years		12 years
Aircraft Engine
Lessee, Lease, Description [Line Items]
Number of leases \| aircraftEngine	24		24
Number of engines dependent on usage-based metrics \| aircraftEngine			8
Aircraft Engine \| Aircraft Sale Leaseback
Lessee, Lease, Description [Line Items]
Number of sale-leaseback transactions \| aircraftEngine	2	0	2	1
Aircraft Engine \| Minimum
Lessee, Lease, Description [Line Items]
Remaining lease terms	1 month		1 month
Aircraft Engine \| Maximum
Lessee, Lease, Description [Line Items]
Remaining lease terms	12 years		12 years
Aircraft and Aircraft Engines
Lessee, Lease, Description [Line Items]
Gains recognized on sale-leaseback transactions \| $	$ 21	$ 21	$ 28	$ 36
A320neo \| Aircraft \| Aircraft Sale Leaseback
Lessee, Lease, Description [Line Items]
Number of sale-leaseback transactions	3	5	5	8
A320ceo
Lessee, Lease, Description [Line Items]
Number of aircraft returned					2
A319
Lessee, Lease, Description [Line Items]
Number of aircraft terminated					4
A319, To Be Returned In Q2
Lessee, Lease, Description [Line Items]
Charge included as a component of rent expense \| $		$ 5		$ 9

Operating Leases - Aircraft Rent Expense and Maintenance Obligations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Leases [Abstract]
Aircraft rent expense	$ 133,000	$ 133,000	$ 261,000	$ 271,000
Supplemental rent expense for maintenance-related reserves deemed non-recoverable	(1,000)	1,000	(1,000)	1,000
Supplemental rent expense related to probable lease return condition obligations	18,000	$ 11,000	33,000	$ 25,000
Aircraft maintenance deposits expected to be recoverable	110,000		110,000		$ 108,000
Aircraft maintenance deposits expected to be recoverable, eligible maintenance performed	8,000		8,000		10,000
Aircraft maintenance deposits	102,000		102,000		$ 98,000
Maintenance reserve payments, due remainder of fiscal year	2,000		2,000
Maintenance reserve payments, due in year one	3,000		3,000
Maintenance reserve payments, due in year two	3,000		3,000
Maintenance reserve payments, due in year three	3,000		3,000
Maintenance reserve payments, due in year four	3,000		3,000
Maintenance reserve payments, due after year four	$ 9,000		$ 9,000

Operating Leases - Airport Facilities (Details)	6 Months Ended
Operating Leases - Airport Facilities (Details)	Jun. 30, 2022 airport
Lessee, Lease, Description [Line Items]
Number of airports served	120
Minimum \| Airport Facility
Lessee, Lease, Description [Line Items]
Remaining lease terms	1 month
Maximum \| Airport Facility
Lessee, Lease, Description [Line Items]
Remaining lease terms	11 years

Operating Leases - Other Ground Property and Equipment (Details) - Other Ground Property And Equipment $ in Thousands	Jun. 30, 2022 USD ($)
Lessee, Lease, Description [Line Items]
Lease incentive	$ 22,000
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease terms	1 month
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease terms	10 years

Operating Leases - Lessor Concessions (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Lessee, Lease, Description [Line Items]
Increase (decrease) in deferrals related to leases		$ (9)		$ (20)
Deferred costs, leasing,	$ 10		$ 10
Aircraft Rental
Lessee, Lease, Description [Line Items]
Deferrals related to leases	0	(10)	0	(29)
Station Operations
Lessee, Lease, Description [Line Items]
Deferrals related to leases	$ (1)	$ 1	$ (1)	$ 9

Operating Leases - Lease Cost (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Leases [Abstract]
Operating lease cost	$ 118	$ 134	$ 235	$ 241
Variable lease cost	64	87	119	152
Total lease costs	$ 182	$ 221	$ 354	$ 393

Operating Leases - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Lessee, Lease, Description [Line Items]
Cash paid for amounts included in measurement of lease liabilities	$ 119	$ 115	$ 236	$ 223
Aircraft and Aircraft Engines
Lessee, Lease, Description [Line Items]
Acquired aircraft and engines through operating leases	$ 87	$ 182	$ 148	$ 302

Stock-Based Compensation and Stockholders’ Equity - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 4	$ 2	$ 7	$ 5
Common stock authorized for issuance (in shares)	750,000,000		750,000,000		750,000,000
Preferred stock authorized for issuance (in shares)	10,000,000		10,000,000		10,000,000
Common stock, stated par (in dollars per share)	$ 0.001		$ 0.001		$ 0.001
Preferred stock, par value (in dollars per share)	$ 0.001		$ 0.001		$ 0.001
Nonvoting Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock authorized for issuance (in shares)	150,000,000		150,000,000		150,000,000
Common stock, stated par (in dollars per share)	$ 0.001		$ 0.001		$ 0.001

Stock-Based Compensation and Stockholders’ Equity - Stock Options and Restricted Awards (Details) - $ / shares			6 Months Ended
	Jan. 01, 2022	Apr. 01, 2021	Jun. 30, 2022	Apr. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted (in shares)			0
Stock option exercise (in shares)			124,411
Weighted average stock price (in dollars per share)			$ 3.42
Weighted average exercise price of outstanding options (in dollars per share)			$ 1.97
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units issued (in shares)			1,169,950
Weighted average grant date fair value (in dollars per share)			$ 12.12
Vested (in shares)			772,224
Shares withheld to cover employee taxes on vested restricted stock units (in shares)			286,294
Weighted average grant date fair value, withheld to cover employee taxes (in dollars per share)			$ 12.27
Weighted average grant date fair value, for vested shares (in dollars per share)			$ 12.53
2014 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for issuance (in shares)				38,000,000
2021 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for issuance (in shares)		7,000,000
Common stock issued (in shares)		11,000,000
Maximum number of shares of stock that may be issued upon the exercise of incentive stock options		1.00%
Maximum number of shares of stock that may be issued upon the exercise of incentive stock options (in shares)		30,000,000
Number of additional shares authorized	2,170,650

Stock-Based Compensation and Stockholders’ Equity - Liability-Classified Awards (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Current portion of restricted stock liability	$ 0	$ 26
Phantom Share Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Current portion of restricted stock liability		$ 26
Remaining liability paid	$ 26

Commitments and Contingencies - Aircraft and Engine Orders (Details)	1 Months Ended			6 Months Ended
	Nov. 30, 2021 aircraft	Jul. 31, 2021 aircraft	Dec. 31, 2017 aircraft	Jun. 30, 2022 aircraft aircraftEngine
Air Transportation Equipment
Long-term Purchase Commitment [Line Items]
Remainder of 2022				9
2023				21
2024				24
2025				30
2026				41
Thereafter				104
Total				229
Aircraft Engine
Long-term Purchase Commitment [Line Items]
Remainder of 2022 \| aircraftEngine				2
2023 \| aircraftEngine				4
2024 \| aircraftEngine				2
2025 \| aircraftEngine				4
2026 \| aircraftEngine				4
Thereafter \| aircraftEngine				5
Total \| aircraftEngine				21
A320neo \| Air Transportation Equipment
Long-term Purchase Commitment [Line Items]
Remainder of 2022				4
2023				0
2024				0
2025				17
2026				19
Thereafter				31
Total			67	71
A321neo \| Air Transportation Equipment
Long-term Purchase Commitment [Line Items]
Remainder of 2022				5
2023				21
2024				24
2025				13
2026				22
Thereafter				73
Total	91	10	67	158

Commitments and Contingencies - Additional Information (Details) $ in Millions	1 Months Ended			6 Months Ended
	Nov. 30, 2021 aircraft	Jul. 31, 2021 aircraft leasingPartner	Dec. 31, 2017 aircraft	Jun. 30, 2022 USD ($) aircraft aircraftEngine employee_group	Dec. 31, 2021 USD ($) aircraft
Long-term Purchase Commitment [Line Items]
Purchase commitments for aircraft and engines, remainder of 2022				$ 509
Purchase commitments for aircraft and engines, 2023				1,227
Purchase commitments for aircraft and engines, 2024				1,453
Purchase commitments for aircraft and engines, 2025				1,770
Purchase commitments for aircraft and engines, 2026				2,363
Purchase commitments for aircraft and engines, thereafter				$ 6,219
Number of union-represented employee groups \| employee_group				7
Amount of employees represented by unions				87.00%
Accrued liabilities for health care claims				$ 5	$ 5
Aircraft Engine
Long-term Purchase Commitment [Line Items]
Number of aircraft agreed to purchase \| aircraftEngine				21
Air Transportation Equipment
Long-term Purchase Commitment [Line Items]
Number of aircraft agreed to purchase \| aircraft				229
Air Transportation Equipment \| A320neo
Long-term Purchase Commitment [Line Items]
Number of aircraft agreed to purchase \| aircraft			67	71
Number of aircraft eligible for conversion \| aircraft					18
Air Transportation Equipment \| A321neo
Long-term Purchase Commitment [Line Items]
Number of aircraft agreed to purchase \| aircraft	91	10	67	158
Number of leasing partners with signed letter of intent \| leasingPartner		2

Commitments and Contingencies - Collective Bargaining Agreements (Details)	6 Months Ended
	Jun. 30, 2022
Multiemployer Plan [Line Items]
Amount of employees represented by unions	87.00%
Pilots
Multiemployer Plan [Line Items]
Amount of employees represented by unions	32.00%
Flight Attendants
Multiemployer Plan [Line Items]
Amount of employees represented by unions	51.00%
Aircraft Technicians
Multiemployer Plan [Line Items]
Amount of employees represented by unions	2.00%
Aircraft Appearance Agents
Multiemployer Plan [Line Items]
Amount of employees represented by unions	1.00%
Dispatchers
Multiemployer Plan [Line Items]
Amount of employees represented by unions	1.00%
Material Specialists
Multiemployer Plan [Line Items]
Amount of employees represented by unions	1.00%
Maintenance Controllers
Multiemployer Plan [Line Items]
Amount of employees represented by unions	1.00%

Net Earnings (Loss) per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Basic:
Net income (loss)	$ 13,000	$ (121,000)	$ 19,000	$ (91,000)	$ (108,000)	$ (72,000)
Less: net income attributable to participating rights	0		(1,000)		0	0
Net income (loss) attributable to common stockholders	$ 13,000		$ 18,000		$ (108,000)	$ (72,000)
Weighted average common shares outstanding, basic (in shares)	217,602,480		214,337,723		217,438,904	206,951,248
Net earnings (loss) per share, basic (in dollars per share)	$ 0.06		$ 0.08		$ (0.49)	$ (0.35)
Diluted:
Less: net income attributable to participating rights	$ 0		$ (1,000)		$ 0	$ 0
Net income (loss) attributable to common stockholders	$ 13,000		$ 18,000		$ (108,000)	$ (72,000)
Effect of dilutive potential common shares (in shares)	1,334,065		1,548,787		0	0
Weighted average common shares outstanding, diluted (in shares)	218,936,545		215,886,510		217,438,904	206,951,248
Net earnings (loss) per share, diluted (in dollars per share)	$ 0.06		$ 0.08		$ (0.49)	$ (0.35)
Shares excluded from the computation of diluted shares (in shares)	2,284,417		2,010,070

Fair Value Measurements - Carrying Amounts and Estimated Fair Values of the Company’s Debt (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt, fair value	$ 376	$ 423
Estimated Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt, fair value	345	422
Pre-delivery credit facility \| Carrying Value \| Secured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt, fair value	221	174
Pre-delivery credit facility \| Estimated Fair Value \| Secured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt, fair value	219	175
Treasury Loan \| Carrying Value \| Secured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt, fair value	0	150
Treasury Loan \| Estimated Fair Value \| Secured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt, fair value	0	156
Floating rate building note \| Carrying Value \| Secured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt, fair value	18	18
Floating rate building note \| Estimated Fair Value \| Secured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt, fair value	18	19
PSP Promissory Notes \| Carrying Value \| Unsecured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt, fair value	66	66
PSP Promissory Notes \| Estimated Fair Value \| Unsecured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt, fair value	47	58
Affinity card advance purchase of mileage credits \| Carrying Value \| Unsecured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt, fair value	71	15
Affinity card advance purchase of mileage credits \| Estimated Fair Value \| Unsecured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt, fair value	$ 61	$ 14

Fair Value Measurements - Fair Value of Assets and Liabilities Measured at Fair Value (Details) - Fair Value, Recurring - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash	$ 766,000	$ 918,000
Interest rate derivative contracts	8,000
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash	766,000	918,000
Interest rate derivative contracts	0
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash	0	0
Interest rate derivative contracts	8,000
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash	0	$ 0
Interest rate derivative contracts	$ 0

Related Parties (Details) $ in Millions	3 Months Ended		6 Months Ended
Related Parties (Details) $ in Millions	Jun. 30, 2022 USD ($) director	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) director	Jun. 30, 2021 USD ($)
Controladora Vuela Compañía de Aviación, S.A.B. de C.V. \| Indigo Partners
Related Party Transaction [Line Items]
Outstanding shares of common stock held	18.00%		18.00%
Indigo Partners \| Affiliated Entity
Related Party Transaction [Line Items]
Management fees, expense reimbursements, and director compensation \| $	$ 1	$ 1	$ 1	$ 1
Controladora Vuela Compañía de Aviación, S.A.B. de C.V. \| Affiliated Entity
Related Party Transaction [Line Items]
Number of company directors \| director	2		2

The Proposed Merger with Spirit Airlines, Inc. (Details) - USD ($) $ in Millions		3 Months Ended			6 Months Ended
	Jul. 27, 2022	Sep. 30, 2022	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Business Acquisition [Line Items]
Transaction and merger-related costs			$ 9	$ 0	$ 20	$ 0
Spirit Airlines, Inc Merger
Business Acquisition [Line Items]
Transaction and merger-related costs			9		20
Capitalized costs incurred			2		2
Forecast \| Spirit Airlines, Inc Merger
Business Acquisition [Line Items]
Write-off of the capitalized deferred equity issuance costs	$ (2)
Merger-related expenses upon termination of agreement		$ 25
Termination fee	$ 69
Legal, Accounting and Other Fees \| Spirit Airlines, Inc Merger
Business Acquisition [Line Items]
Transaction and merger-related costs			4		12
Retention Bonus \| Spirit Airlines, Inc Merger
Business Acquisition [Line Items]
Transaction and merger-related costs			$ 5		$ 8
Employee Retention Costs \| Forecast \| Spirit Airlines, Inc Merger
Business Acquisition [Line Items]
Transaction and merger-related costs		$ 9
Acceleration of merger retention costs		50.00%