Frontier Confirms That Southwest Airlines Is A Potential Buyer | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Recent Daily Episodes

Episode Date






Airborne On ANN

Airborne 11.23.15

Airborne 11.24.15

Airborne 11.18.15

Airborne 11.19.15

Airborne 11.20.15

Airborne Hi-Def On YouTube

Airborne 11.23.15

Airborne 11.24.15

Airborne 11.18.15

Airborne 11.19.15

Airborne 11.20.15

EAA/ANN AirVenture Innovation Preview

AIP-#1 Vimeo

AIP-#2 Vimeo

AIP-Part 1 YouTube

AIP-Part 2 YouTube

Fri, Jul 31, 2009

Frontier Confirms That Southwest Airlines Is A Potential Buyer

Frontier Would Become A Subsidiary Of Republic

Frontier Airlines Holdings, Inc. Thursday revealed that Southwest Airlines Co. has submitted an initial non-binding proposal to acquire Frontier under the auction procedures established in Frontier’s Chapter 11 bankruptcy cases and approved by the U.S. Bankruptcy Court. The bid is reported to be $113.6 million.

As previously announced, on July 13 the judge presiding over Frontier’s Chapter 11 bankruptcy cases in the U.S. Bankruptcy Court for the Southern District of New York approved a proposed investment agreement between Frontier and Republic Airways Holdings, Inc. Pursuant to the investment agreement, Republic agreed to purchase 100% of the stock of Frontier Holdings upon its emergence from bankruptcy for $108.75 million, so long as certain conditions are met. Frontier Airlines Holdings would become a wholly-owned subsidiary of Republic, an airline holding company that owns Chautauqua Airlines, Republic Airlines and Shuttle America.

The Republic investment agreement provides for an auction period, during which Frontier may seek higher or otherwise better competing bids. If Frontier identifies such a bid, it can terminate the Republic investment agreement and accept the other offer. Under the auction procedures approved by the Court, interested bidders must submit an initial proposal by Aug. 3, 2009, and a final proposal by Aug. 10, 2009. Frontier and its advisors, in consultation with the Unsecured Creditors’ Committee appointed in Frontier’s Chapter 11 cases, will conduct an auction, if necessary, on Aug. 11, 2009, to consider all qualified proposals and determine the highest or otherwise best proposal.

Frontier currently expects to emerge from Chapter 11 this fall.

Frontier and its subsidiaries filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code on April 10, 2008. More information about Frontier’s Chapter 11 proceedings is available online.



More News

Blue Origin Makes History, But Is The System Practical

Only Time Will Tell If The Booster Is Truly Reusable On November 23, 2015 Blue Origin achieved a first in rocketry and spaceflight history when their New Shepard launch vehicle suc>[...]

Dassault Falcon Jet Completes New Little Rock Expansion

Facility Earmarked For Work On Falcon 8X And Falcon 5X Airplanes Dassault Falcon Jet has completed another major expansion of its Little Rock Completion Center that will add 350,00>[...]

ICAO World Aviation Forum Charts Course To Sustainable Aviation Benefits

First-Ever Forum Of Its Type Draws Over 800 International Officials Over 800 Ministers and senior officials from States, UN and international organizations have gathered at the Hea>[...]

Russian Warplane Shot Down By Turkey On Syrian Border

Kremlin Say There Was No Violation Of Turkish Airspace Tensions between Russia and Turkey, and by extension NATO, escalated Tuesday when a Russian Su-24 was shot down by Turkey aft>[...]

AD: Airbus Airplanes

AD NUMBER: 2015-23-06 PRODUCT: Certain Airbus Model A330-200, A330-300, and A340-300 series airplanes.>[...]

blog comments powered by Disqus





© 2007 - 2015 Web Development & Design by Pauli Systems, LC