Barclays Cuts Frontier Rating, Flags Cash Strain as Sale-Leaseback Benefits Fade
Barclays lowered its recommendation on Frontier Airlines to Underweight from Overweight, citing shrinking sale-leaseback proceeds, rising maintenance and labor costs, and an accelerating cash burn that leaves the carrier with about four quarters of runway. Frontier shares fell 8% on Monday. In the same note, Barclays raised JetBlue to Equal Weight,…