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Republic Airways Holdings extends Frontier Airlines sale deadline

18-Sep-2013 8:42 AM

Republic Airways Holdings announced (17-Sep-2013) a two-week extension of exclusivity of the sale process for Frontier Airlines. The new deadline to enter into a definitive agreement will be 30-Sep-2013. Republic Airways Holdings chairman, president and CEO Bryan Bedford said: "Sitting here today, we have made substantial progress towards reaching a definitive agreement with the buyer and, while we can make no assurances, we believe providing the additional time will allow for the process to be completed." In an investor presentation, the carrier said both parties were "working diligently to satisfy all remaining conditions of the term sheet." Republic expects the transaction to close in 4Q2013. [more - original PR] [more - original PR - II]