Just never know what the day’s news is going to bring. Especially in this environment.
Today, news of a fight for Frontier Airlines.
Southwest Airlines announced today that it has filed a bid of $113.6 million for Frontier Airlines. Republic Holdings, as most of you are aware, has already submitted a bid of $108.8 million. That proposal has already been approved by the U.S. Bankruptcy Court for the Southern District of New York.
However — just because the bankruptcy court approved that offer — Frontier still had the right to seek a higher bid. And apparently that is what it did. Actually I don’t think Frontier solicited anything. I’m pretty sure Southwest is the one who made the call.
Under terms of the Frontier bankruptcy auction, bidders can submit offers until Aug. 3 and a final proposal has to be submited by Aug. 10.
The auction is scheduled for Aug. 11.
Is it just me, or are memories of the fight over ATA creeping into your consciousness as well?
Well, we certainly now have something more to talk about than earnings.