A Frontier Airbus approaches Akron-Canton airport in 2010. Photo: Gary Starcher - OPShots Contributor
Republic Airways Holdings Inc. has heard from potential buyers for Frontier Airlines and is close to naming an adviser on whether the unit will be sold or spun off to shareholders, Chief Executive Officer Bryan Bedford said.The company will select Evercore Partners Inc., Barclays Plc or Seabury Group LLC for the advisory role, Bedford said in an interview today. Republic said in November that it would divest Frontier, two years after buying the Denver-based carrier out of bankruptcy.Separating Frontier will let Republic return to its traditional role of providing regional flights for carriers such as Delta Air Lines Inc. A $120 million restructuring of Frontier that included job cuts and cost reductions has returned the unit to profit, allowing Republic to move ahead with the separation.
via Republic Says Potential Buyers Have Surfaced for Frontier Air – Businessweek.
