Frontier's $106M Plane Sale Gets Green Light

Law360, New York (May 7, 2008, 12:00 AM EDT) -- Frontier Airlines Holdings Inc. has won bankruptcy court permission to sell two of its Airbus A319-111 aircraft and two Airbus A318-111 aircraft to Russia's Verulamium Finance Ltd. for $106 million.

In court documents filed Friday in the U.S. Bankruptcy Court for the Southern District of New York, Judge Robert D. Drain approved Denver-based Frontier's bid seeking authorization to enter into a letter of intent and to sell the airplanes.

The sale is in Frontier's best interests and represents “a prudent exercise of the debtors’ business judgment,”...
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