Republic Beats Southwest, Takes Frontier

Law360, New York (August 14, 2009, 4:40 PM EDT) -- Republic Airways Holdings Inc. has won the bankruptcy court auction for Frontier Airlines Holdings Inc., beating out a bid from rival Southwest Airlines Co.

Republic won with a bid of $108.8 million for Frontier, and an agreement to waive its right to $150 million in unsecured prepetition claims, Frontier said Thursday in a statement. The $150 million waiver will boost the distribution to general unsecured creditors by 94 percent, Frontier said.

The Republic bid received Hart-Scott-Rodino antitrust clearance Wednesday, Frontier said, but has yet to receive...
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