Republic Extends Deadline For Potential Frontier DealPosted: Updated:
Indianapolis-based Republic Airways Holdings Inc. (Nasdaq: RJET) has set a new deadline for the potential sale of Frontier Airlines. Chief Executive Officer Bryan Bedford says there has been "substantial progress" in reaching a definitive agreement with a buyer, leading to a two week extension for exclusive negotiations. September 17, 2013
INDIANAPOLIS -- Republic Airways Holdings Inc. (NASDAQ/NM: RJET) today announced a two-week extension of exclusivity of the sale process for Frontier Airlines. The new deadline to enter into a definitive agreement will be September 30, 2013.
“Sitting here today, we have made substantial progress towards reaching a definitive agreement with the buyer and, while we can make no assurances, we believe providing the additional time will allow for the process to be completed,” said Republic Airways Chairman, President and Chief Executive Officer Bryan Bedford.
About Republic Airways Holdings
Republic Airways Holdings, based in Indianapolis, Indiana, is an airline holding company that owns Chautauqua Airlines, Frontier Airlines, Republic Airlines and Shuttle America, collectively “the airlines.” The airlines operate a combined fleet of more than 285 aircraft and offer scheduled passenger service on over 1,600 flights daily to 145 cities in the U.S. as well as to the Bahamas, Canada, Costa Rica, Dominican Republic, Jamaica, Mexico and Turks and Caicos Islands under branded operations at Frontier, and through fixed-fee flights operated under airline partner brands, including AmericanConnection, Delta Connection, United Express, and US Airways Express. The airlines currently employ approximately 10,000 aviation professionals. For more information on Republic Airways, please visit our website at www.rjet.com.
Source: Republic Airways Holdings Inc.