shearedshaft
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- Joined
- Apr 16, 2004
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Denver's Frontier Airlines Inc. said Monday evening that it had not received any further bids for its assets near the deadline for companies to tell the federal bankruptcy court of their interest.
Frontier has an agreement with Republic Airways Holdings Inc. for it to buy the reorganized shares of Frontier once it emerges from bankruptcy protection some time this fall. That agreement is valued at roughly $108 million.
Dallas-based Southwest Airlines Co. said Thursday that it would make a bid worth just over $113 million for Frontier's assets. Southwest continues to study Frontier's financial data to see if it will make a formal bid due Aug. 10.
Monday represented the deadline for informal notification of intent to bid on the airline. Frontier said that as of 5:30 p.m. Dallas time that it had not received further bids.
Frontier has an agreement with Republic Airways Holdings Inc. for it to buy the reorganized shares of Frontier once it emerges from bankruptcy protection some time this fall. That agreement is valued at roughly $108 million.
Dallas-based Southwest Airlines Co. said Thursday that it would make a bid worth just over $113 million for Frontier's assets. Southwest continues to study Frontier's financial data to see if it will make a formal bid due Aug. 10.
Monday represented the deadline for informal notification of intent to bid on the airline. Frontier said that as of 5:30 p.m. Dallas time that it had not received further bids.
