Animal Tails Live To Fly Another Day Under New Majority
Shareholder
A struggling airline has won something of a reprieve. Frontier
Airlines announced Monday it has received a $75 million commitment
in post-petition debtor-in-possession (DIP) financing from Perseus
LLC. Perseus also agreed to serve as equity sponsor for Frontier's
plan of reorganization, allowing Perseus to purchase 79.9% of the
equity in the reorganized company for $100 million.
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