Republic Airways Holdings (Indianapolis) has announced that it has agreed to a 48-hour extension of exclusivity of the sale process for Frontier Airlines (2nd) (Denver).
“Indigo Partners informed us they have made good progress but have not been able to resolve all the conditions to close the transaction,” said Republic Airways Chairman, President and CEO Bryan Bedford. “They requested and we agreed to extend the deadline by 48 hours.”
Republic Airways Holdings is an airline holding company that owns Chautauqua Airlines, Frontier Airlines, Republic Airlines and Shuttle America.
Indigo Partners issued the following statement on the status of its pending acquisition of Frontier Airlines from Republic Airways Holdings:
“Indigo Partners has informed Republic Airways that its planned acquisition of Frontier Airlines will move forward. Major conditions, including agreements with FAPAInvest and Barclaycard are satisfied, as are other commercial and business arrangements. An agreement has not been reached with the Association of Flight Attendants (AFA); however, Indigo has informed Republic that it will waive that condition. The transaction is expected to be finalized later this month, subject to receipt of certain regulatory approvals and other customary closing conditions.”
William A. Franke, managing partner at Indigo Partners said, “We are pleased about the progress we have made to resolve major issues and move this acquisition toward closing. We look forward to completing the transaction and continuing to extend Frontier’s reach and service as a leading, nationwide ultra-low cost carrier (ULCC).”
Copyright Photo: Ton Jochems/AirlinersGallery.com. Airbus A319-111 N922FR (msn 2012) with the Red Fox exits the runway for the gate at Los Angeles International Airport.
Frontier Airlines (2nd):