Republic Airways extends deadline for Frontier sale

Back to TopCommentsE-mailPrintBookmark and Share

Republic Airways Holdings Inc. said Tuesday that it was extending exclusive negotiations with a potential buyer of Frontier Airlines for two weeks, until Sept. 30.

Republic said the two sides were making progress and trying to tie up remaining unsettled conditions in a July term sheet.

The company has not publicly identified the bidder. Numerous published reports have identified it as former Spirit Airlines Inc. Chairman Bill Franke's investment firm, Indigo Partners LLC. Spirit is a low-fare carrier that relies heavily on low costs and charging customers fees for specific services.

Republic announced the extension as shareholders met in New York.

"Sitting here today, we have made substantial progress toward reaching a definitive agreement with the buyer," said Republic Chairman and CEO Bryan Bedford, "and while we can make no assurances, we believe providing the additional time will allow for the process to be completed."

Indianapolis-based Republic, which operates regional-airline service for bigger carriers such as United and Delta, announced in July that it had reached an exclusive but nonbinding agreement with a potential buyer for Frontier, which it bought out of bankruptcy.

Republic shares rose 38 cents, or 3.1 percent, to $12.54 in late morning trading. Through Monday's close, they had more than doubled in 2013.


Post a comment to this story

We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
You are legally responsible for what you post and your anonymity is not guaranteed.
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
Subscribe to IBJ
  1. Can your dog sign a marriage license or personally state that he wishes to join you in a legal union? If not then no, you cannot marry him. When you teach him to read, write, and speak a discernible language, then maybe you'll have a reasonable argument. Thanks for playing!

  2. Look no further than Mike Rowe, the former host of dirty jobs, who was also a classically trained singer.

  3. Current law states income taxes are paid to the county of residence not county of income source. The most likely scenario would be some alteration of the income tax distribution formula so money earned in Marion co. would go to Marion Co by residents of other counties would partially be distributed to Marion co. as opposed to now where the entirety is held by the resident's county.

  4. This is more same-old, same-old from a new generation of non-progressive 'progressives and fear mongers. One only needs to look at the economic havoc being experienced in California to understand the effect of drought on economies and people's lives. The same mindset in California turned a blind eye to the growth of population and water needs in California, defeating proposal after proposal to build reservoirs, improve water storage and delivery infrastructure...and the price now being paid for putting the demands of a raucous minority ahead of the needs of many. Some people never, never learn..

  5. I wonder if I can marry him too? Considering we are both males, wouldn't that be a same sex marriage as well? If they don't honor it, I'll scream discrimination just like all these people have....