August 11, 2009
Southwest ups the ante in Frontier auction
Southwest Airlines dramatically increased its offer for Frontier Airlines, filing a binding bid of $170 million for the bankrupt Denver carrier.
Southwest previously submitted a non-binding bid of $113 million, the Fort Worth (Texas) Star-Telegram reported Tuesday.
Republic Airlines, owners of Chautauqua, Republic and Midwest airlines, also submitted a bid in New York bankruptcy court.
Southwest's bid includes buying 80 percent of Frontier's fleet of Airbus planes, which it will then replace with Boeing 737s over a two year period, the newspaper said.
Republic's plan calls for keeping Frontier largely intact, The Denver Post reported Monday.