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Republic inks deal to sell Frontier Airlines

Oct 01, 2013 - The Deal Pipeline

Republic Airways Holdings Inc. on Tuesday said it has a deal in place to sell its Frontier Airlines Inc. unit to Indigo Partners LLC for $145 million in cash and assumed debt, but the parties still have significant issues to resolve before Frontier is free to fly solo.

Terms of the deal call for Phoenix-based Indigo to acquire Frontier for $36 million in cash, with the newly independent company retaining about $109 million in debt. Indigo said it will also invest an unspecified amount d...