Southwest Makes Competing Bid For Frontier Assets

Law360, New York (July 31, 2009, 2:48 PM EDT) -- Frontier Airlines Holdings Inc. has received a $113.6 million bid from Southwest Airlines Co. to purchase its assets in bankruptcy court, putting an alternative to Frontier's previous $108.75 million agreement with Republic Airways Holdings Inc. on the table.

Representatives of both companies confirmed Friday that Southwest had submitted a non-binding proposal to acquire Frontier at a court-approved auction, set to begin Aug. 11. Southwest will need to submit a binding proposal by Aug. 10.

Chris Mainz, a Southwest spokesman, said that the bid could well end...
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