Thu, Dec 05, 2013
Republic Airways Completes Sale To Investment Fund
Republic Airways Holdings Inc. has closed on the sale of Frontier Airlines to an investment fund affiliated with Indigo Partners LLC. Effective upon the closing of the sale, David Siegel, CEO and President of Frontier Airlines, resigned from Republic’s Board of Directors.
“I wish my former colleagues at Frontier and their new owner, Indigo Partners, the very best and continued success in the transformation of Frontier to an ultra-low-cost carrier. I’d also like to thank Dave for his dedicated service to Republic over the past four years,” said Republic Airways Chairman, President and Chief Executive Officer Bryan Bedford.
“With the sale of Frontier complete, Republic can now focus its full attention on its core regional jet business and continue to strengthen its relationships with its major airline partners,” Bedford added.
“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.
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