Southwest Airlines Moves In on FrontierBy
A bidding war for tiny Frontier Airlines? The bankrupt carrier, which in June agreed to be acquired by Republic Airways (RJET) for $108.8 million, has drawn the interest of Southwest Airlines (LUV), a major rival in the contested Denver market. Southwest submitted a nonbinding proposal on July 30 offering to pay a minimum of $113.6 million for Denver-based Frontier. Any other interested parties have until Aug. 10 to submit a binding bid for the carrier under terms approved by a U.S. Bankruptcy Court's review of Republic's proposal. An auction is scheduled for Aug. 11 at Davis, Polk & Wardwell, the New York law firm representing Frontier in the restructuring.
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