Frontier Airlines, Inc., a wholly owned subsidiary of Frontier Group Holdings, Inc. (NASDAQ: ULCC), entered into an agreement on June 30, 2026, with Avolon Leasing Ireland 3 Limited to sell 11 A321neo aircraft at the time of delivery from its existing purchase commitment.

The transaction includes 3 aircraft deliveries expected in the fourth quarter of 2026 and 8 deliveries anticipated in the first half of 2027. The deal was previously disclosed on May 5, 2026, as a non-binding agreement in principle.

According to the company, the aircraft are being sold at current market rates, factoring in transition-related costs including estimated remarketing costs. Each aircraft will be sold at the time of delivery to the company.

Frontier Group now expects to take delivery of 22 aircraft in 2026, comprising 8 A320neo aircraft and 14 A321neo aircraft, with 3 of the A321neo aircraft to be sold in the fourth quarter as part of this transaction. The company projects it will exit 2026 with a fleet of 171 aircraft.

The company described the transaction as part of a fleet-rightsizing initiative. The full agreement is expected to be filed as an exhibit to the company's Quarterly Report on Form 10-Q for the period ended June 30, 2026.