A private equity firm in Arizona has completed its acquisition of Frontier Airlines from Indianapolis-based Republic Airways Holdings Inc. (Nasdaq: RJET). The deal with Indigo Partners LLC was first announced in October.
December 3, 2013
Phoenix, Ariz. — Indigo Partners today announced that, through an affiliate, it has completed the acquisition of Frontier Airlines from Republic Airways Holdings. Final terms of the transaction, which was first announced on October 1, 2013, are not being disclosed.
Indigo Partners and its principals, led by managing partner William A. Franke, have considerable experience in successful, airline-related investments.
“Today is an exciting day for Frontier Airlines and Indigo Partners, as we can now embark on a new chapter in Frontier's history of providing safe, reliable and fairly priced air service,” said Franke. “As air travel costs have moved higher, demand has grown for more affordable options and more choices. One key element to Frontier’s future success will be operating as an ultra low cost carrier that offers low fares. This model, coupled with the Frontier touch, will ensure opportunities for the Frontier team, and provide safe and reliable ULCC air service to our communities and beyond as we grow Frontier under this vision.”
Frontier will remain headquartered in Denver, Colorado.
About Frontier Airlines
Frontier Airlines is currently in its 20th year of operations and offers service to more than 75 destinations in the United States, Mexico, Costa Rica, Jamaica and the Dominican Republic. The airline employs more than 3,800 aviation professionals, operating from its hub at Denver International Airport. For in-depth information on Frontier Airlines and to book tickets, visit www.FlyFrontier.com.
About Indigo Partners LLC
Indigo Partners is a private equity firm established by W. A. Franke in 2003 to pursue acquisitions and strategic investments in the air transportation and related industries. The firm was a significant investor in Tiger Airways based in Singapore and Spirit Airlines based in Ft. Lauderdale, Florida, and maintains lead investments in Wizz Air Holdings, Plc, a ULCC with multiple bases in Central and Eastern Europe and Volaris Airlines, a ULCC based in Mexico City. Indigo Partners is headquartered in Phoenix, Arizona.
Source: Indigo Partners LLC