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Republic Airways completes acquisition of Frontier Airlines

Direct News Source

01-Oct-2009 Republic Airways Holdings (NASDAQ/NM: RJET) today announced that it has completed its acquisition of Denver-based Frontier Airlines Holdings. Republic, which was the sponsor of Frontier's plan of reorganization, acquired 100% of the equity in the reorganized company for $108.75 million via an auction process in Frontier's Chapter 11 bankruptcy case.

With the close of the transaction, Frontier joins Chautauqua Airlines, Midwest Airlines, Mokulele Airlines, Republic Airlines and Shuttle America as a subsidiary of Republic Airways Holdings. On July 31, Republic completed its acquisition of Milwaukee-based Midwest Airlines. Republic plans to continue both the Frontier and Midwest brands while leveraging their unique strengths across the combined network. "We welcome Frontier into the Republic Airways family," said Bryan Bedford, Chairman, President and CEO of Republic.

"We thank the employees of Frontier for their hard work and the customers of Frontier for their continued loyalty. Frontier's successful exit from Chapter 11 closes a difficult chapter in its history and allows us to move forward together to capitalize on the many opportunities to make two excellent brands even stronger."