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SWA submits ONLY binding bid.....

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JumpJetter

Basking in LUV!
Joined
Nov 25, 2001
Posts
356
So if SWA submits the only bid...how does that change the dymanic?

UPDATE 2-Southwest submits $170 mln binding bid for Frontier

Mon Aug 10, 2009 3:09pm EDT
(New throughout; Adds details from Southwest announcement)
NEW YORK, Aug 10 (Reuters) - Southwest Airlines (LUV.N: Quote, Profile, Research, Stock Buzz) said on Monday it submitted a binding bid of more than $170 million for Frontier Airlines Holdings Inc (FRNTQ.PK: Quote, Profile, Research, Stock Buzz), at least $56 million more than its initial offer for the bankrupt carrier.
In a release, Southwest said it acquire about 80 percent of Frontier's existing fleet of 51 Airbus planes, plus all of Lynx, a regional carrier that operates 11 aircraft for Frontier.
A transition to Southwest's Boeing 737s and the retirement of Frontier's planes will occur over a period of 24 months.
Southwest said it intends to maintain "all existing markets" and add new nonstop routes from Denver that are not served by either carrier currently.
An auction for the Frontier is expected to commence on Thursday, August 13, Southwest said. Bankruptcy filings had indicated that the auction could occur as early as August 11.
"If our bid is successful, we will return to growth mode in the midst of a deep recession, expand our network in Denver to include many attractive destinations that we don't currently serve today, and offer Denver travelers a stable, low-fare airline," said Southwest Chief Executive Gary Kelly in a blog post.
In late July, Dallas-based Southwest said it was vying to buy Frontier for $113.6 million, besting an earlier bid from Republic Airways Holdings (RJET.O: Quote, Profile, Research, Stock Buzz). A court approved the Republic bid but left the door open for higher offers.
Calls to press representatives for Republic and Frontier were not immediately returned.
The president of Frontier's pilots union told Reuters no other binding offers were submitted for Frontier. The Frontier Airline Pilots Association sits on the carrier's committee of unsecured creditors.
Southwest shares fell about 2.2 percent, or 20 cents, to $8.91 on the New York Stock Exchange at mid-afternoon. Republic Airways was off 24 cents, or 4.04 percent, at $5.70 on Nasdaq. (Reporting by Deepa Seetharaman; Editing by Richard Chang and Steve Orlofsky)
 
YGBSM!!!!!

Have you been following any of this?!?!?!

Only bid?

You need to go read all the other threads on this topic!

Stemler made that statement long before SWA submitted their "binding bid" this morning. Whadya know, that makes "two" binding bids.
 
so I just wonder how the Judge will roll now!!!! jobs security for the whole Frontier group or MULA$$$ and save haven for a few pilots and fa's
 
My first response was 'nevermind' as well. But i'll take a crack at this anyways.
1. Nothing has changed.

2. Republic's binding bid occurred weeks ago, today was the end of probation for OTHER interested parties to submit binding bids.

In other words, it doesnt do anything to the dynamic until they actually win the bid.
 
Didn't Gary Kelly tell the pilots that there will be no arbitration, so if the F9 pilots don't agree to something, "No Deal"? I would think that if a "binding offer" is accepted, then the F9 pilots would have a better chance of getting a "better" deal than a staple, and could threaten arbitration (Bond McKaskil bill). If it is a "binding" offer, then how could Kelly then take it off the table if SWAPA doesn't like it? And, most importantly, when do F9 (I mean SWA) A319s go to LBB from DEN?


Bye Bye--General Lee
 
I think the offer to buy them is binding, integrating them is not required though. IOW SWA will own them if they win the auction but it can be run as a separate company depending on what happens with labor support for the deal. This still leaves some negotiating to be done between SWAPA and FAPA to try and save F9 jobs. And no one gets my LBB overnights General, that is a show stopper.
 
Didn't Gary Kelly tell the pilots that there will be no arbitration, so if the F9 pilots don't agree to something, "No Deal"? I would think that if a "binding offer" is accepted, then the F9 pilots would have a better chance of getting a "better" deal than a staple, and could threaten arbitration (Bond McKaskil bill). If it is a "binding" offer, then how could Kelly then take it off the table if SWAPA doesn't like it? And, most importantly, when do F9 (I mean SWA) A319s go to LBB from DEN?


Bye Bye--General Lee

None of this concerns you!
 
None of this concerns you!

You sound pathetic, and can't even muster up an answer. This is HANGER TALK, dumbarse. It concerns EVERYONE. If you don't like it, LEAVE. (and go do 6 legs to ISP)


Bye Bye--General Lee
 

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