Southwest Ups Bid For Frontier To $170M

Law360, New York (August 10, 2009, 7:15 PM EDT) -- Southwest Airlines Co. has submitted a binding cash offer of more than $170 million for bankrupt Frontier Airlines Holdings Inc., a nearly $60 million dollar boost over its preliminary bid.

Southwest intends to purchase about 80 percent of Frontier's existing Airbus fleet — 40 aircraft — and all of feeder airline Lynx, Southwest said in a statement Monday.

The bid vaults over Southwest's previous, nonbinding $113.6 million offer, submitted in late July, and is well above a binding $108.75 million bid from Republic Airways Holdings Inc....
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