Republic Airways to Sell Frontier Airlines to Private Equity Firm
Republic Airways has agreed to sell Frontier Airlines to private equity firm Indigo Partners LLC for approximately $145 million, including debt that will be retained by Frontier. "I am confident that Frontier will enjoy future growth as Indigo continues the process to position the airline as a leading ultra-low-cost carrier in the United States," said Republic's chairman, president and CEO Bryan Bedford in a statement. Phoenix-based Indigo Partners was a significant investor in Spirit Airlines and maintains investments in Mexico's Volaris Airlines, among others. Republic expects the deal to close this December, following regulatory approvals and agreements with flight attendants and other parties.