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Frontier Group Holdings, Inc. (NASDAQ:ULCC) is one of the best cheap penny stocks to buy that aren’t scams. On March 18, Frontier Group Holdings, Inc. (NASDAQ:ULCC), a subsidiary of Frontier Airlines, deferred the delivery of 69 A320neo family aircraft. The aircraft are to be delivered between 2031 and 2033, from the previous schedule of between 2027 and 2030.

Alexey Y. Petrov/Shutterstock.com

The pushback on delivery timelines comes as Frontier Group Holding’s debt has risen to $5.5 billion, with negative levered free cash flow of $624 million. Earlier, Frontier Group Holdings reached an agreement to terminate leases on 24 A320neo aircraft currently in operation.

The aircraft are to be returned in the second quarter and are expected to reduce the operating lease right-of-use assets and operating liabilities by about $400 million. The earlier return is also expected to result in non-cash charges of between $125 million and $175 million. The company is also poised to incur between $75 million and $95 million in early lease termination and return of aircraft and engines.

Frontier Group Holdings, Inc. (NASDAQ:ULCC) is a Denver-based holding company that operates Frontier Airlines, Inc., the largest ultra-low-cost carrier (ULCC) in the United States. It provides passenger airline services to leisure travelers across the U.S., Mexico, and the Caribbean, focusing on low fares, high-density seating, and fuel-efficient, all-Airbus A320neo family aircraft.

While we acknowledge the potential of ULCC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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