São Paulo, May 05, 2025 – GOL Linhas Aéreas Inteligentes S.A. (B3: GOLL4) (“Company” or “GOL”), one of the leading airlines in Brazil, announces today the update of its financial projections in support of the Company’s Chapter 11 exit debt financing process, as detailed in the presentation attached hereto as Annex I. The Company advises that the updated financial projections serves as an update to is GOL 5-Year Plan projections published on January 15, 2025.  The enclosed updated financial projections set forth in the attached presentation incorporate the following updated actual and projected financial performances:

1. Actual Results for 2024: Include the actual financial results achieved during the 2024 fiscal year which serve as the basis for updating future years’ projections.
2. Updated Financial Guidance for 2025: Revision of estimates for the 2025 fiscal year, with Total Net Revenue forecasted to range between R$22.1 billion and R$22.7 billion and EBITDA between R$5.7 billion and R$5.9 billion¹.
3. Revenue Revisions through Q1 2026: Adjustments were made to revenue projections based on current booking trends and signed contracts, reflecting expected stronger demand through the first quarter of 2026.
4. Udates to the 2026 Bonds Creditors Agreement: Incorporation of the terms of the agreement reached with an ad hoc group of 2026 bondholders (the “Ad Hoc Group”), pursuant to which the members of the Ad Hoc Group have made commitments to purchase $125 million of the Company’s $1.9 billion of exit financing notes (“Exit Debt Financing”) in connection with a settlement of claims, as disclosed in the material fact dated May 2, 2025.
5. Exit Debt Financing Updates: Revised upward the expected coupon payable on the Exit Debt Financing and moved out the Company’s exit from the Chapter 11 process to early June 2025 from late April 2025.
6. Equity Financing Timeline and Clawback Clauses: Updated timing of projected receipt of up to $330 million of equity investments in GOL by strategic partners.  Such investments are now assumed to occur within the first 180 days post emergence from the Chapter 11 case.  The projections include an assumption that upon receipt of the full $330 million, up to $180 million will be used to prepay a portion of the Exit Debt Financing.

The financial projections detailed in the presentation attached hereto as Annex I are estimates based on the information currently available and the underlying assumptions set forth above are more fully described in the presentation. It should be noted that these projections do not constitute a performance promise and are subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied in the projections.

The Company also announces preliminary and unaudited financial information for the quarter ended March 2025. With the objective of assisting investors and analysts in understanding how GOL is approaching its short-term planning, the Company is sharing these metrics.

GOL expects an EBITDA ²,³ margin for the quarter of ~27%, in line with the quarter ended in March 2024.

Passenger unit revenue (PRASK) for the first quarter is expected to be up approximately 5% year over year. For the quarter ended in March, GOL expects unit revenue (RASK) to increase approximately 6%).

1-As disclosed in the material fact dated March 28, 2025.
2-For comparison purposes, 1Q24 results were adjusted considering results of
 Sale Lease Back as non-recurring, unaudited.
3-Excluding non-recurring expenses of approximately R$370 million.
4-Cash, cash equivalents and accounts receivable.

Finally, GOL reiterates that, under the terms of the Plan, it will significantly reduce its indebtedness by converting into equity or extinguishing up to approximately US$1.7 billion of its pre-Chapter 11 funded debt and up to approximately US$850 million of other obligations. As such, considering that the conversion will be carried out based on the economic value of GOL’s shares prior to the conversion, in accordance with applicable law, a substantial dilution of GOL’s currently outstanding shares is expected (subject to shareholders’ preemptive rights as provided under Brazilian law).

• New exclusive non-stop route between Montreal and Guadalajara
• Extension of Montreal–Madrid service

MONTRÉAL, May 5, 2025 /CNW/ – Air Transat, named the World’s Best Leisure Airline in 2024 by Skytrax, continues expanding its network with the addition of two new international routes to its winter 2025-2026 program. The airline is introducing an exclusive route between Montreal and Guadalajara (GDL) in Mexico and extending its service between Montreal and Madrid (MAD) in Spain to cover part of the winter season. Flights will be available for booking this week.

“The launch of these new routes reflects our commitment to offering a diversified network and effectively meeting currently underserved demand,” says Sebastian Ponce, Chief Revenue Officer at Transat. “By targeting high-potential markets like Guadalajara and gradually making our European service available year-round, we are strengthening our position from Eastern Canada to the South and Europe, while maximizing our fleet’s operational efficiency. These are carefully curated routes that align with Air Transat’s DNA.”

Montreal – Guadalajara: Discover Mexico Differently
Starting December 13, 2025, travellers can fly non-stop from Montreal to Guadalajara, a cultural gem of Mexico. Offered twice weekly on Thursdays and Saturdays, this new route opens the door to an authentic and vibrant destination – the birthplace of mariachi, tequila, and a thriving culinary scene. In addition to serving the needs of Quebec’s Mexican community, this service invites travellers to discover another side of Mexico.

Montreal – Madrid: Spain in Winter
Next winter, there will be no need to wait for the return of warm weather to enjoy the Spanish capital. Starting February 18, 2026, Air Transat will offer two flights per week between Montreal and Madrid on Wednesdays and Fridays, extending its summer route for the first time into the winter season. With its mild temperatures, lifestyle, and rich heritage, Madrid offers a refreshing European getaway at any time of year. This expansion is part of Air Transat’s strategy to reduce the seasonality of its transatlantic network by adding Madrid to its winter offerings for Spain, which already includes Malaga. Additionally, the airline offers seamless connectivity to several other key destinations in Spain through its interline partnership with Air Europa.

Also, it is worth noting that the joint venture with Porter Airlines allows travellers from across Canada to easily access Air Transat’s extensive network via connecting flights. This partnership ensures warm service and a high-quality travel experience with two Canadian airlines known for their friendliness and reliability.

Details of Air Transat’s full winter 2025-2026 program will be announced soon.

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• Toronto – Rio de Janeiro, Cartagena, Pointe-à-Pitre, Guadalajara
• Montreal – Santiago, Cartagena, Guatemala City
• Quebec City – Fort-de-France
• Halifax – Nassau, Montego Bay
• Ottawa– Nassau, Montego Bay
• Vancouver – Huatulco

MONTREAL, May 5, 2025 /CNW/ – Air Canada today announced its winter sun schedule, reflecting its largest network expansion to Latin America to date with 16 per cent more seat capacity over last winter. Highlights of the carrier’s exciting new services for the Winter 2025-26 season include new destinations to Rio de Janeiro, Cartagena, Guatemala City, and Guadalajara. As well, 13 new routes including to Santiago, Pointe-a-Pitre, Fort-de-France, Nassau, Montego Bay, and Huatulco are being introduced, along with additional frequencies to popular vacation destinations. In total, with over 55 daily flights and more than 80,000 seats weekly, Air Canada will offer the most comprehensive offering of any Canadian carrier flying to Latin America. All flights are now available for sale at aircanada.com, through Air Canada Contact Centres and via travel agents.

“Air Canada is delivering on its New Frontiers strategy with the expansion of its Latin America presence this winter. We are excited to be adding Rio de Janeiro, Cartagena, Guatemala City and Guadalajara to our global network, and increasing service to Santiago with new flights from Montreal. Our Latin America winter schedule has been built to serve both Canadian and global Sixth Freedom connecting travellers, as well as capitalize on growing cargo opportunities,” said Mark Galardo, Executive Vice President & Chief Commercial Officer, and President, Cargo at Air Canada.

“We are also very pleased to add new winter routes from Halifax, Quebec City, Ottawa and Vancouver, to the Bahamas, Jamaica, Martinique, Guadeloupe, and Mexico, and increase capacity to popular sun vacation destinations.”

“With the breadth and depth of Air Canada’s network, our upcoming winter schedule offers a multitude of travel options for customers wherever they are. Whether people are connecting from Europe to Santiago, Guatemala and Guadalajara, Canadians looking to visit sunny climates, or travellers interested in exploring new adventures anywhere on the six continents we fly to, customers can plan and book their winter travels now. We look forward to welcoming you onboard our flights,” concluded Mr. Galardo.

Air Canada’s new South America routes:

Flight	From	To	Depart	Arrive	Days of Operation	Season
AC84	Toronto (YYZ)	Rio de Janeiro (GIG)	23:30	10:45 +1 day	Tue, Thu, Sat	Dec. 4, 2025 – Mar. 28, 2026
AC85	Rio de Janeiro (GIG)	Toronto (YYZ)	21:30	07:00 +1 day	Wed, Fri, Sun	Dec. 5, 2025 – Mar. 29, 2026
AC936	Toronto (YYZ)	Cartagena (CTG)	08:15	13:40	Sat	Dec. 20, 2025 – Apr. 11, 2026
AC937	Cartagena (CTG)	Toronto (YYZ)	14:40	20:25	Sat	Dec. 20, 2025 – Apr. 11, 2026
AC52	Montreal (YUL)	Santiago (SCL)	17:50	07:00 +1 day	Tue, Thu, Sat	Dec. 16, 2025 – Feb. 27, 2026
AC53	Santiago (SCL)	Montreal (YUL)	08:35	17:45	Wed, Fri, Sun	Dec. 17, 2025 – Feb. 28, 2026
AC1388	Montreal (YUL)	Cartagena (CTG)	08:15	14:00	Sat	Dec. 20, 2025 – Apr. 11, 2026
AC1389	Cartagena (CTG)	Montreal (YUL)	15:00	20:25	Sat	Dec. 20, 2025 – Apr. 11, 2026

Marcelo Freixo, President of Embratur – Brazilian Tourism Board, said, “Rio de Janeiro is one of those unique places in the world where you can go hiking, swim in the ocean, experience the rich Afro-Brazilian culture, admire breathtaking landscapes, and enjoy an authentic and diverse gastronomy. The relaunch of this route meets a growing demand from Canadian travellers for genuine and sustainable experiences. That is why we remain committed to working in partnership to strengthen this and many other connections between Brazil and Canada.”

Air Canada’s new Central America, Caribbean and Mexico routes:

Flight	From	To	Depart	Arrive	Days of Operation	Season
AC1368	Montreal (YUL)	Guatemala City (GUA)	17:35	22:30	Thu, Sat	Oct. 2, 2025 – April 25, 2026
AC1369	Guatemala City (GUA)	Montreal (YUL)	10:50	16:50	Fri, Sun	Oct. 3, 2025 – April 26, 2026
AC960	Quebec (YQB)	Fort-de- France (FDF)	09:35	15:45	Sun	Dec. 7, 2025 – Apr. 26, 2026
AC961	Fort-de- France (FDF)	Quebec (YQB)	16:45	21:20	Sun	Dec. 7, 2025 – Apr. 26, 2026
AC946	Toronto (YYZ)	Pointe-à-Pitre (PTP)	08:15	14:10	Sat	Dec. 20, 2025 – Apr. 11, 2026
AC953	Pointe-à- Pitre (PTP)	Toronto (YYZ)	15:10	19:40	Sat	Dec. 20, 2025 – Apr. 11, 2026
AC1360	Toronto (YYZ)	Guadalajara (GDL)	16:45	21:10	Tue, Thu, Sat	Nov. 04, 2025 – Apr. 28, 2026
AC1361	Guadalajara (GDL)	Toronto (YYZ)	08:30	14:05	Wed, Fri, Sun	Nov. 05, 2025 – Apr. 29, 2026
AC1270	Ottawa (YOW)	Nassau (NAS)	07:15	11:05	Fri	Dec. 5, 2025 – Apr. 10, 2026
AC1271	Nassau (NAS)	Ottawa (YOW)	12:15	15:40	Fri	Dec. 5, 2025 – Apr. 10, 2026
AC1274	Ottawa (YOW)	Montego Bay (MBJ)	08:30	13:15	Sun	Dec. 7, 2025 – Apr. 12, 2026
AC1275	Montego Bay (MBJ)	Ottawa (YOW)	14:25	18:40	Sun	Dec. 7, 2025 – Apr. 12, 2026
AC1290	Halifax (YHZ)	Nassau (NAS)	17:10	20:20	Fri	Dec. 5, 2025 – Apr. 10, 2026
AC1289	Nassau (NAS)	Halifax (YHZ)	21:20	02:00 +1 day	Fri	Dec. 5, 2025 – Apr. 10, 2026
AC1278	Halifax (YHZ)	Montego Bay (MBJ)	09:25	13:30	Thu	Dec. 4, 2025 – Apr. 9, 2026
AC1279	Montego Bay (MBJ)	Halifax (YHZ)	14:30	20:00	Thu	Dec. 4, 2025 – Apr. 9, 2026
AC980	Vancouver (YVR)	Huatulco (HUX)	08:30	16:35	Sun	Dec. 7, 2025 – Apr. 12, 2026
AC981	Huatulco (HUX)	Vancouver (YVR)	17:35	22:15	Sun	Dec. 7, 2025 – Apr. 12, 2026

Additional capacity:

Route	Increase during peak periods
Toronto – Los Cabos	2 additional weekly flights; up to daily flights
Toronto – Nassau	5 additional weekly flights; up to 12 weekly flights
Toronto – Montego Bay	3 additional flights; up to 10 weekly flights
Toronto – Monterrey	Extended from summer season; 4 weekly flights
Toronto – St. Maarten	1 additional flight; up to 5 weekly flights
Montreal – Punta Cana	1 additional daily flight; up to 3 daily flights
Montreal – St. Maarten	2 additional flights; up to 4 weekly flights
Montreal – Montego Bay	1 additional flight; up to 4 weekly flights
Vancouver – Los Cabos	1 additional flight; up to 5 weekly flights
Vancouver – Puerto Vallarta	1 additional flight; up to daily flights

SAN FRANCISCO and NEW YORK, May 5, 2025 /PRNewswire/ — SKY Leasing (“SKY”), a leading aviation investment manager, and JetBlue Airways (NASDAQ: JBLU) today announced that SKY has acquired JetBlue Ventures, JetBlue’s venture capital subsidiary. This transaction will usher in the next era of growth for JetBlue Ventures, with expanded opportunities to support founders and scale game-changing technologies by leveraging SKY’s deep industry relationships, global reach, and access to capital. JetBlue will continue to serve as a strategic partner to JetBlue Ventures and its portfolio companies.

“We are thrilled to welcome JetBlue Ventures into the SKY family,” said Matthew Crawford, Co-Chief Investment Officer at SKY. “Through our aviation partnerships around the world, we are witnessing firsthand the rapid advancements and innovations in the travel industry, and as a long-term partner to JetBlue, we have consistently admired JetBlue Ventures’ track record of nurturing these groundbreaking technologies. This transaction is a natural evolution of our partnership and will provide us, our investors, and our global aviation partners with direct access to the cutting-edge innovations and technologies shaping the future of travel.”

“We founded JetBlue Ventures to invest in, incubate, and partner with early-stage startups that would shape the future of travel, and by all measures it’s been an incredible success,” said Joanna Geraghty, chief executive officer, JetBlue. “As we look at the needs of our airline today, we are fully focused on our JetForward strategy to get JetBlue back to profitability and set us up for long-term success as we compete against the legacy carriers. This transaction enables us to focus on our core airline operations, while maintaining our access to the innovations and opportunities of current and future portfolio companies through our ongoing strategic partnership with JetBlue Ventures.”

Since its founding in 2016, JetBlue Ventures has invested in 55 early-stage startups and made over 40 follow-on investments, resulting in eight exits in the form of acquisitions and public offerings. The JetBlue Ventures team, which will continue to be led by Amy Burr, will remain focused on investing in emerging enterprise technology and frontier tech solutions across the travel and transportation ecosystem.

JetBlue Ventures will continue to manage all current and future investments, with JetBlue continuing to hold positions in all existing portfolio companies. The JetBlue Ventures brand will remain as part of a brand licensing agreement with JetBlue. The terms of the transaction were not disclosed.

DENVER, May 1, 2025 /PRNewswire/ — Frontier Group Holdings, Inc. (Nasdaq: ULCC), parent company of Frontier Airlines, Inc., today reported financial results for the first quarter of 2025.

Highlights:

• Total operating revenues were $912 million, a record for any first quarter in Frontier’s history, 5 percent higher than the comparable 2024 quarter
• Revenue per available seat mile (“RASM”) was 9.17 cents, roughly flat to the comparable 2024 quarter
• Cost per available seat mile (“CASM”) was 9.63 cents, 1 percent above the comparable 2024 quarter, including fuel expense at an average cost of $2.55 per gallon and total operating expenses of $958 million, or $720 million excluding fuel (a non-GAAP measure)
• Pre-tax loss was $40 million; net loss was $43 million, or $(0.19) per share
• Ended the quarter with $889 million of total liquidity
• Took delivery of four A321neo aircraft and two spare aircraft engines during the first quarter
• 82 percent of Frontier’s fleet was comprised of the highly fuel-efficient A320neo family aircraft at quarter end, the highest percentage of all major U.S. carriers
• Generated a record 107 available seat miles (“ASMs”) per gallon, reaffirming Frontier’s position as “America’s Greenest Airline” as measured by fuel efficiency (ASMs per fuel gallon consumed during the first quarter, compared to all other major U.S. carriers)
• Received the Diamond Award of Excellence for 2024, the Federal Aviation Administration’s most distinguished honor in recognition of Aircraft Maintenance Technicians and employers for their commitment to maintenance training and safety
• Launched 17 new routes which expanded service across the United States and the Caribbean, including Frontier’s return to Tucson, Reno, and Antigua and Barbuda, and non-stop service from New York’s JFK to Miami
• Announced 22 new routes launching in the spring, including first-ever service at Seattle’s Paine Field International Airport and Gregorio Luperón International Airport in Puerto Plata, Dominican Republic, the latter of which continues Frontier’s rapid growth across the Caribbean

“First quarter results reflect softer travel demand primarily during March, with current booking trends suggesting demand for May and early summer travel has now stabilized,” commented Barry Biffle, Chief Executive Officer. “The significant investments we’ve made in our revenue and network initiatives over the past year, combined with our industry leading cost advantage, position us to offer more low fares to more people in more places. One key example is our Economy bundle which we believe provides more relative value than other competing low fares.”

Mr. Biffle continued, “We are targeting a return to profitability in the second half of the year supported by moderating industry capacity, the leverage from our commercial investments and continued close management of the elements of the business we can control, including capacity optimization and aggressive cost and capital expenditure management. I’m extremely proud of Team Frontier for their contributions throughout the quarter and I’m confident we have the best talent in the industry to work through this environment.”

First Quarter 2025 Select Financial Highlights

The following is a summary of first quarter select financial results, including both GAAP and adjusted (non-GAAP) metrics. Refer to “Reconciliations of Non-GAAP Financial Information” in the appendix of this release.

(unaudited, in millions, except for percentages and per share data)
	Three Months Ended March 31,
	2025				2024
	As Reported (GAAP)		Adjusted(Non-GAAP)		As Reported (GAAP)		Adjusted(Non-GAAP)
Total operating revenues	$                912		$                912		$                865		$                865
Total operating expenses	$                958		$                958		$                896		$                896
Pre-tax income (loss)	$                 (40)		$                 (40)		$                 (24)		$                 (24)
Pre-tax income (loss) margin	(4.4) %		(4.4) %		(2.8) %		(2.8) %
Net income (loss)	$                 (43)		$                 (43)		$                 (26)		$                 (21)
Earnings per share, diluted	$              (0.19)		$              (0.19)		$              (0.12)		$              (0.09)

Revenue Performance

Total operating revenue for the first quarter of 2025 was $912 million, a record for any first quarter in Frontier’s history, 5 percent higher on capacity growth of 5 percent, both compared to the corresponding 2024 quarter. Revenue growth was lower than expected due largely to softer demand in March, resulting in fare discounting and promotions across the industry.

RASM was 9.17 cents, roughly flat to the corresponding 2024 quarter, supported by recent investments in broad revenue and network initiatives notwithstanding constrained domestic consumer travel demand during the quarter due largely to macroeconomic uncertainty.

Enplanements and departures increased 12 percent and 6 percent, respectively, on an average stage length of 925 miles, a 3 percent decrease compared to the corresponding 2024 quarter. Total revenue per passenger was $116, 6 percent lower than the corresponding 2024 quarter, and flown load factor was approximately 2 percentage points higher at 74.9 percent.

Cost Performance

Total operating expenses were $958 million in the first quarter of 2025, comprised of $238 million of fuel expenses at an average cost of $2.55 per gallon, and $720 million of operating expenses (excluding fuel), a non-GAAP measure.

CASM was 9.63 cents in the first quarter of 2025, 1 percent higher than the comparable 2024 quarter. CASM (excluding fuel), a non-GAAP measure, was 7.24 cents, 8 percent higher than the 2024 quarter. The increase was due primarily to an 8 percent reduction in average daily aircraft utilization resulting from the Company’s disciplined capacity deployment, a 3 percent decrease in the average stage length, higher station costs, fleet growth and lower sale-leaseback gains primarily resulting from the timing of aircraft deliveries. These items were partially offset by a reduction in fleet-related costs tied to the extension of certain aircraft leases.

Earnings

Pre-tax loss was $40 million for the first quarter of 2025, reflecting a pre-tax loss margin of 4.4 percent.

Net loss was $43 million for the first quarter of 2025, inclusive of $3 million in income tax expense primarily relating to a non-cash valuation allowance against deferred tax assets. The net operating losses subject to a valuation allowance generally do not expire and may be used to offset future taxable income, at which time any related valuation allowance would be released.

Loss per share for the first quarter of 2025 was $0.19 based on approximately 227 million weighted-average shares outstanding in the quarter.

Liquidity

Total liquidity as of March 31, 2025 was $889 million, consisting of unrestricted cash and cash equivalents of $684 million and $205 million of availability from the Company’s undrawn revolving credit facility.

Fleet

As of March 31, 2025, Frontier had a fleet of 163 Airbus single-aisle aircraft, as scheduled below, all financed through operating leases that expire between 2025 and 2037.

Equipment	Quantity	Seats
A320neo	82	186
A320ceo	8	180 – 186
A321ceo	21	230
A321neo	52	240
Total fleet	163

Frontier took delivery of four A321neo aircraft and two spare aircraft engines during the first quarter of 2025. As of March 31, 2025, the Company had commitments for an additional 183 aircraft to be delivered through 2031, including purchase commitments for 27 A320neo aircraft and 156 A321neo aircraft, representing approximately 85 percent of future committed deliveries. The Company has secured sale-leaseback financing commitments for expected deliveries through 2025 and approximately 40 percent of expected deliveries in 2026.

As of March 31, 2025, 82 percent of Company’s fleet was comprised of the highly fuel-efficient A320neo family aircraft, the highest percentage of all major U.S. carriers. The A321neo is expected to continue to unlock meaningful scale efficiencies by way of fuel savings and higher average seats per departure.

Frontier is “America’s Greenest Airline” as measured by fuel efficiency (ASMs per fuel gallon consumed during the first quarter compared to all other major U.S. carriers). During the first quarter of 2025, Frontier generated a record 107 ASMs per gallon, 1 percent higher than the comparable 2024 quarter.

Forward Guidance

The guidance provided below is based on the Company’s current estimates and is not a guarantee of future performance. This guidance is subject to significant risks and uncertainties that could cause actual results to differ materially, including the risk factors discussed in the Company’s reports on file with the Securities and Exchange Commission (the “SEC”). Frontier undertakes no duty to update any forward-looking statements or estimates, except as required by applicable law. Further, this guidance excludes special items and the reconciliation of non-GAAP measures to the comparable GAAP measures because such amounts cannot be determined at this time.

The Company’s second quarter adjusted (non-GAAP) loss per share guidance, as noted below, largely reflects softer travel demand in April and the normal lead time to align costs with capacity reductions. Current booking trends suggest demand for May and early summer travel has now stabilized, supported by Frontier’s investments in revenue and network enhancements alongside capacity reductions by the Company and other domestic carriers.

The Company continues to focus on controlling the elements of the business it can control, including, but not limited to, optimization of capacity and related costs, and capital spending. The Company has therefore reduced planned capacity for both the second quarter and the balance of 2025 to be down low single digits on a percentage basis compared to the corresponding prior-year period, with adjustments focused on off-peak days of the week. The Company will closely monitor the demand environment and make any further adjustments to capacity and related costs, as appropriate.

The Company will not provide full-year 2025 adjusted EPS guidance given the uncertainty in the demand outlook for the balance of the year.

	Second Quarter
	2025
Adjusted (non-GAAP) loss per share(a)(b)(c)	$(0.23) to $(0.37)

(a)

Includes guidance on certain non-GAAP measures which excludes, among other things, special items. The Company is unable to reconcile these forward-looking projections to GAAP as the nature or amount of such special items cannot be determined at this time.

(b)

Based on the blended jet fuel curve on April 29, 2025, resulting in an average fuel cost (including fuel taxes and into-plane costs) of $2.38 per gallon and approximately $2.30 per gallon for the second quarter and the remainder of 2025, respectively.

(c)

Based on estimated weighted average shares outstanding of 228 million shares in the second quarter 2025 and a projected tax expense provision in the range of $2 million to $5 million due to the expected recognition of a non-cash valuation allowance. The Company’s second quarter actual tax expense may be impacted by varying factors which may include, but are not limited to, the composition of items of income and expense recognized in the respective periods, including the amount of non-deductible or other similar items, the treatment of deferred tax assets and related valuation allowances.

Conference Call

The Company will host a conference call to discuss first quarter 2025 results today, May 1, 2025, at 4:30 p.m. Eastern Time (USA). Investors may listen to a live, listen-only webcast available on the investor relations section of the Company’s website at https://ir.flyfrontier.com/news-and-events/events. The call will also be archived and available for at least 90 days on the investor relations section of the Company’s website.

New terminal expected to be bigger, better and launched sooner than previously planned

• Larger, state-of-the-art Terminal F designed to have double the number of gates, new facilities to expand international operations, increased lounge and premium space, new lobby check-in experience and a dedicated parking garage.
• American and DFW increase the planned investment in Terminal F to approximately $4 billion to create what will be DFW’s signature terminal experience, operated entirely by American Airlines.
• In addition to accelerating the timeline and scope, the new agreement extends American’s Use and Lease Agreement with DFW through 2043.

FORT WORTH, Texas — American Airlines and Dallas Fort Worth International Airport (DFW) revealed plans for Terminal F that will enable them to continue growing together. The improved plan will focus on delivering a modern customer experience with double the number of gates, new facilities to expand international operations, increased lounge and premium space, a new customer check-in experience and a dedicated parking garage.

The agreement increases the planned investment in Terminal F to about $4 billion and accelerates the construction plans so customers can enjoy the new space sooner. Terminal F will feature DFW’s signature terminal experience, operated entirely by American, and extends the airline’s Use and Lease Agreement with DFW through 2043. This is expected to provide certainty and cost predictability to support the continued growth of American and DFW.

“DFW is American’s largest and most critical hub, and with this expanded plan for Terminal F, DFW has a clear path to become the largest airline hub in the world,” said American’s CEO Robert Isom. “Dallas-Fort Worth is one of the fastest growing regions in the country, and we’re excited that American and North Texas will continue to grow together. Terminal F will elevate our customer experience in a big way, providing customers with a fantastic new facility and state-of-the-art amenities. We thank Mayor Johnson, Mayor Parker, the rest of the DFW Airport Board, and Sean and the DFW team for their partnership. We’re excited for the future at DFW and all the growth that’s to come in North Texas.”

Investment expands the scope of Terminal F with a focus on the customer

In 2023, American and DFW reached a 10-year Use and Lease Agreement with preapproved capital investments, including the construction of Terminal F as a 15-gate facility, which customers would access from Terminal E via the airport’s Skylink system.

With a positive long-term outlook for growth in customers and North Texas, the Terminal F expansion program will deliver more space for widebody aircraft and international flight processing and includes additional spaces for leading amenities, shops, restaurants and public art, providing customers flying out of DFW with more options.

The expanded plans for Terminal F will provide customers with a walking connection to Terminal D in addition to a new Skylink station, creating even more access across DFW’s terminals. The Terminal F parking garage is designed with a built-in curbside circulation and an innovative baggage drop and check-in area to maintain the quick access to check in and security that customers have come to expect.

The original first phase of Terminal F is well underway and scheduled to be operational in 2027, with the enhanced features to come online shortly after. American plans to occupy all the gates of the new terminal, creating a seamless experience for connecting customers and driving efficiencies for the airline’s operations.

Full support from North Texas leaders

The robust air service that American provides has made DFW Airport the third busiest airport in the world. Dallas Mayor Eric L. Johnson, Fort Worth Mayor Mattie Parker, DFW Board of Directors Chair DeMetris Sampson, DFW CEO Sean Donohue and American CEO Robert Isom gathered at DFW to make the announcement.

“DFW Airport is getting even bigger and better with the exciting new plans for Terminal F,” said Dallas Mayor Eric L. Johnson. “This monumental investment by American Airlines is set to elevate an already world-class international airport. This is yet another example of how the growing partnership between American Airlines and DFW Airport continues to strengthen Dallas’ gateway to the rest of the world while boosting our economy and reinforcing our status as a premier international city.”

“Fort Worth-based American Airlines continues to double down on DFW as its home base with another major investment in the airport’s infrastructure and long-term health,” said Fort Worth Mayor Mattie Parker. “Today’s announcement ensures that DFW will be ready to accommodate the historic growth happening in Fort Worth and all of North Texas into the future.”

“DFW is growing fast, and we are committed to sharing this economic opportunity with businesses in our community as we move forward,” said DeMetris Sampson, Chair of the DFW Board of Directors. “DFW has become the economic engine of our region, and we know that this investment will ensure the long-term sustainability of the airport.”

“In the last decade, DFW has grown its passenger traffic by 50 percent and exceeded the wildest expectations of our founders to become the third-busiest airport in the world,” said Sean Donohue, CEO of DFW. “Thanks to our close partnership with Robert Isom, American Airlines remains a competitive advantage that continues to show the strength of the airport as a global hub that is supporting the massive economic growth of the Dallas Fort Worth region. Moving forward with Terminal F in this way ensures that DFW and American maintain that momentum.”

The increased investment in DFW Terminal F is just one more way American is focused on enhancing its customer experience across the travel journey. Later this month, American will open its A-West Flagship^® lounge and Admirals Club^® lounge at Philadelphia International Airport, providing customers with an elevated space to recharge before their flight. The airline also recently announced complimentary high-speed satellite Wi-Fi for AAdvantage^® members inflight beginning in January 2026, sponsored by AT&T*. With this, American will offer free inflight connectivity on more aircraft than any other airline.

Building on the partnership with DFW and commitment to North Texas

This expanded agreement reinforces American’s commitment to DFW and North Texas and is an example of the strong relationship between American, DFW, the City of Dallas and the City of Fort Worth.

Just two years ago, the Use and Lease Agreement outlined major capital projects over the next 10 years, including an estimated $2.72 billion for the expansion of the Central Terminal Area, including a major reimagining of Terminal C, gate expansions extending from Terminal A and Terminal C, and significant upgrades to roadways and terminal access.

With a stronger investment in Terminal F, American is all in on North Texas. The airline is a massive economic driver for the Dallas-Fort Worth region, employing more than 36,000 team members in the area, and carrying nearly 70 million customers through DFW in 2024.

With an investment of over US$360 million, the aircrafts feature sliding doors and designs inspired by South America, making the airline group the first in the region to offer this experience. In addition, all seats, onboard entertainment, and design elements have been upgraded.

The three 787-8 aircrafts will begin service on routes from Santiago to Mexico City, Bogotá, and Miami on April 26, and May 3 and 6, respectively. They will later operate flights from Santiago to Easter Island (Chile), Bogotá (Colombia), Madrid (Spain), as well as  Miami, New York, and Los Angeles (USA).

Santiago, Chile – May 1, 2025. Starting April 26, LATAM Group began operating three aircrafts, featuring renovated cabins, highlighted by the Recaro R7 suites in Premium Business.  These new suites  offer increased comfort and privacy with sliding doors and interiors inspired by the natural beauty of South America. With this launch, LATAM Group becomes the first airline group in South America to offer its patrons such an elevated travel experience.

In addition to Premium Business cabins, the upgrade also extends to Economy class, which now features next-generation, ergonomically designed seats for more space and comfort, onboard entertainment, and enhanced design.

These aircrafts debuted on the Santiago–Mexico City route, with a flight departing Chile at 8:10 a.m. Two more aircraft will follow, operating the Santiago–Bogotá and Santiago–Miami routes on May 3 and 6, respectively. Afterwards, the three 787-8 aircraft – all based in Chile – will continue to serve routes from Santiago to Easter Island (Chile), Bogotá (Colombia), Madrid (Spain), and Miami, New York, and Los Angeles (USA).

The aircrafts are part of a broader retrofit program announced in September of last year, which will see the renovation of 24 Boeing 787 aircraft with a total investment of US$360 million.

“Continuously seeking to modernize our fleet and elevate the flying experience in South America, LATAM is proud to be the first group in the region to innovate Premium Business by incorporating doors into our seats. This initiative provides our passengers with an unprecedented level of privacy and comfort, inspired by local beauty,” said Paulo Miranda, Vice President of Customers at LATAM Group.

Of the 24 aircraft being retrofitted, 10 are Boeing 787-8, operating international and domestic flights in Chile, and 14 are Boeing 787-9, operating both international and domestic flights in Chile, Brazil, and Peru.

“We are thrilled to enter the next phase of our partnership with LATAM and prepare for the first R7 flight from Santiago,” said Mark Hiller, CEO of RECARO Aircraft Seating and RECARO Holding. “With a strong focus on comfort, privacy, and the elegance of South American culture, every detail has been carefully crafted with the passenger in mind to enhance the overall flying experience. Congratulations to the RECARO and LATAM teams for this major achievement.”

The retrofit process is being carried out at LATAM’s maintenance bases in São Carlos, Brazil, and Santiago, Chile, and is expected to be completed by the second half of 2026. Each retrofit takes between 1 to 2 months, depending on the scope of the enhancements.

World-Class Suites and Seats

The Premium Business suites are fully private, with sliding doors and seats that convert into lie-flat beds. Each suite offers direct aisle access, shoe compartments, storage space, and both USB-A and USB-C charging ports. For entertainment, each suite includes an 18-inch high-definition screen.

Economy class seats, on the other hand, feature next-generation, ergonomic designs that offer more space and comfort. They are upholstered with up to 70% recycled leather—currently used on narrow-body aircrafts—a material that reduces water usage in production by 87% compared to regular leather.

Passengers can also enjoy more comfort in Economy Plus seats, which provide extra legroom, increased recline, footrests, and a dedicated overhead luggage compartment.

New Seamless One-Stop Routes from LAX to Berlin, Paris, Rome, Vienna, Zurich and More

Los Angeles, April 29, 2025 – Following the success of Condor Airlines’ non-stop route from LAX to Frankfurt last summer, the airline returns this season with daily, non-stop service starting this month. After last summer’s introduction of its state-of-the-art A330neo aircraft at LAX, Condor will now operate all its LAX service exclusively with the A330neo. Brand new for this season, travelers originating at LAX will be able to travel on Condor to more of Europe with new one-stop service via its Frankfurt hub to Berlin (BER), Hamburg (HAM), Munich (MUC), Zurich (ZRH), Vienna (VIE), Milan (MXP), Paris (CDG), Prague (PRG) and Rome (FCO), with continuing service to Palermo/Sicily (PMO).

The new inter-European flights provide seamless, same-terminal Condor-to-Condor connectivity to some of the most popular European vacation and business destinations for Southern California travelers. Condor will also continue to serve vacation destinations in Spain and Greece and provide additional connections to more than 100 destinations in Europe and beyond via its existing interline agreements with partner carriers. 

“This summer we are thrilled to up our daily seasonal service from Southern California’s most important transatlantic gateway: LAX on board the most stylish and comfortable long-haul aircraft in the skies. And with Condor’s own connecting service from our convenient Frankfurt hub, we bring more of Europe within easier reach at more affordable fares,” said Mikko Turtiainen, director of sales, The Americas. “Plus, we are pleased to offer our departing LAX Business Class passengers a truly premium lounge experience through our partnership with the Air France Lounge, which opened just last summer. When it comes to flying to Europe this summer from Southern California, Condor truly is one of the most attractive, convenient and affordable options.”

“We’re delighted to welcome Condor’s expanded daily service at LAX, which provides our travelers with more convenient and affordable options to reach popular European destinations,” said Doug Webster, Chief Operations and Maintenance Officer at Los Angeles World Airports. “This enhanced connectivity aligns strongly with our mission to deliver a world-class experience that reflects the energy and uniqueness of Los Angeles. The airline’s deployment of the state-of-the-art A330neo aircraft complements our ongoing sustainability initiatives at LAX, as we continue transforming the guest experience and developing our infrastructure to create the premier international gateway for Southern California.”

All Flights from LAX Feature Condor’s All Airbus Fleet with Increased Capacity

The A330neo offers unrivalled inflight passenger comfort and accommodates 310 passengers, featuring four Prime Seats, 26 seats in Business Class, 64 seats in Premium Economy Class and 216 seats in Economy Class. Connecting flights out of Frankfurt to cities in Europe will be operated with the Airbus A320 family of aircraft in a two-class configuration of Business Class and Economy Class. Both Condor’s long-haul and short-haul aircraft sport its distinctive, eye-catching striped livery evocative of Europe’s colorful beach umbrellas, beach towels and chairs.