Southwest to bid on Frontier Airlines
Posted on: Monday, 10 August 2009, 10:20 CDT
Southwest Airlines said it would submit a competitive bid this week for bankrupt Denver airline Frontier, which has one other bidder, Republic Airways.
In July, Southwest submitted a non-binding proposal for Frontier of $113.6 million. The proposal includes folding Frontier and incorporating its assets to Southwest's operations.
Republic, which owns Chautauqua, Republic and Midwest airlines, has submitted a bid of $108.7 million with a proposal that would keep Frontier largely intact, The Denver Post reported Monday.
Southwest spokesman Chris Mainz said, We are finalizing the proposal. We still believe we'll have a very strong proposal that presents the best possible outcomes for all involved.
The deadline for bids is 10 a.m. Monday Mountain Daylight Time. If Southwest's bid is on time, the auction will begin Tuesday at Frontier's attorney's office in New York.
Source: United Press International
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