Updates
** Shares of Frontier Airlines parent, Frontier Group Holdings ULCC.O rise 8% to about $4.41
** Co posts smaller-than-expected first-quarter loss as U.S. travel demand rebounds
** Says it expects to capture a significant share of demand after Spirit Airlines' recent shutdown
** Frontier's Q1 adjusted loss of 30 cents per share lower than analysts' expectation of a 36-cent loss - data compiled by LSEG
** Including session's moves, ULCC down 6.3% YTD
(Reporting by Megavarshini G. Somasundaram and Parth Chandna in Bengaluru)
((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com))