Type | Airline Holding Company |
---|---|
Industry | Transportation |
Fate | Acquired |
Successor | Republic Airways Holdings |
Founded | April 3, 2006 |
Defunct | October 1, 2009 |
Headquarters | United States |
Products | Airline Services |
Frontier Airlines Holdings, Inc. was a United States-based airline holding company. The company has headquarters in Denver, Colorado.
Frontier Airlines Holdings | IATA: | ICAO: | Call Sign: | Airline or contracted regional airline operating flights for or flying in brand colors of: | Codeshares with, flight numbers ranging: | Number and type of aircraft | Number of Seats: |
---|---|---|---|---|---|---|---|
Frontier Airlines | F9 | FFT | FRONTIER FLIGHT | Frontier Airlines | Great Lakes (ZK) 5001 - 5999 Lynx Aviation (L4) 3001 - 3999 | 09 Airbus A318-110 39 Airbus A319-100 04 Airbus A320-200 | 120 132 - 136 162 |
Lynx Aviation | L4 | SSX | SHASTA | Frontier Airlines Operated by Lynx Aviation | 11 Bombardier Q400 (+10 options) | 70-74 (70 in aircraft with ski bins) | |
The company was formed from a reorganization of Frontier Airlines on April 3, 2006. Frontier created Frontier Airlines Holdings, Inc., a holding company incorporated in Delaware to take advantage of favorable tax law of "Delaware General Corporation Law" in that state. The new corporate headquarters was located in Colorado. [1]
On September 6, 2006, Frontier Holdings announced that a new division known as Lynx Aviation, would operate 10 Bombardier Q400 aircraft beginning in May 2007 as Frontier Express. [2] Service with the Q400's has been rescheduled to begin on October 1, 2007. The 'Lynx' name plays off of the tail pictures of its planes, specifically Larry the Lynx, and the fact that it "links" smaller airports to the main Denver hub. [2] One reason for the change is to help reduce costs; the company hopes the change will allow Frontier Airlines to cut costs on routes 650 miles or shorter by 30%, allowing entry into new markets. [2] by paying employees less.
On April 11, 2008, Frontier Airlines Holdings announced that it and all of its subsidiaries has filed for bankruptcy due to its credit card processor withholding payment from ticket sales. [3]
On August 4, 2008, Frontier Airlines Holdings, Inc. announced it was moving forward with an alternate transaction for post-petition debtor-in-possession (DIP) financing. Republic Airways Holdings, Inc., Credit Suisse Securities (through its affiliates), and AQR Capital offered Frontier up to $75 million in DIP financing, with an immediate firm commitment and funding of $30 million. This new DIP facility provides Frontier with lower financing costs, less restrictive covenants and greater flexibility to pursue strategic opportunities without being constrained by more restrictive DIP provisions. The alternate DIP facility is subject to bankruptcy court approval and to various conditions. [4]
The Bankruptcy Court confirmed Frontier's reorganization plan on September 10, 2009, [5] and Frontier emerged from Chapter 11 on October 1, 2009 as a wholly owned subsidiary of Republic Airways Holdings. [6]
Chapter 11 of the United States Bankruptcy Code permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as "Chapter 11 bankruptcy", is available to every business, whether organized as a corporation, partnership or sole proprietorship, and to individuals, although it is most prominently used by corporate entities. In contrast, Chapter 7 governs the process of a liquidation bankruptcy, though liquidation may also occur under Chapter 11; while Chapter 13 provides a reorganization process for the majority of private individuals.
Frontier Airlines is an American ultra low-cost carrier headquartered in Denver, Colorado. The eighth-largest commercial airline in the US, Frontier Airlines operates flights to over 100 destinations throughout the United States and 31 international destinations, and employs more than 3,000 staff. The carrier is a subsidiary and operating brand of Indigo Partners, LLC, and maintains a hub at Denver International Airport with numerous focus cities across the US.
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