Frontier Airlines Holdings, Inc. is an air carrier based in the United States. The company has its headquarters in Denver, Colorado.
Video Frontier Airlines Holdings
Airlines
Airlines divisions and operations
- Frontier Airlines
- Lynx Aviation
- Frontier Express
Maps Frontier Airlines Holdings
History
The company was formed from the reorganization of Frontier Airlines on April 3, 2006. Frontier created Frontier Airlines Holdings, Inc., the parent company incorporated in Delaware to take advantage of the lucrative tax laws "Delaware General Corporation Law" in the state. The new corporate headquarters are located in Colorado.
On September 6, 2006, Frontier Holdings announced that the new division, known as Lynx Aviation, would operate 10 Bombardier Q400 aircraft that began in May 2007 as Frontier Express. Service with Q400 has been rescheduled to begin on October 1, 2007. The name 'Lynx' plays the tailed image of the plane, specifically Larry the Lynx, and the fact that it "connects" smaller airports to the main Denver center.. One reason for change is to help reduce costs; the company hopes this change will allow Frontier Airlines to cut costs on a 650 mile or shorter route by 30%, allowing entry into new markets. by paying fewer employees.
On April 11, 2008, Frontier Airlines Holdings announced that they and all of its subsidiaries had filed for bankruptcy as their credit card processors withheld payments from ticket sales.
On August 4, 2008, Frontier Airlines Holdings, Inc. announced that it is moving forward with alternative transactions for post-petition debtor-in-possession financing (DIP). Republic Airways Holdings, Inc., Credit Suisse Securities (through its affiliates), and AQR Capital offers Frontier up to $ 75 million in DIP financing, with an immediate commitment and funding of $ 30 million. The new DIP facilities provide Frontier with lower financing costs, more limited agreements and greater flexibility to pursue strategic opportunities without being constrained by more stringent DIP provisions. Alternative DIP facilities are subject to the approval of bankruptcy court and various conditions.
The Bankruptcy Court reaffirmed Frontier's reorganization plan on September 10, 2009, and Frontier emerged from Chapter 11 on October 1, 2009 as a wholly owned subsidiary of Republic Airways Holdings.
References
External links
- Frontier Airlines Holdings Restructuring
Source of the article : Wikipedia
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