DENVER (AP) -- Frontier Airlines Holdings Inc. says Republic Airways Holdings Inc. has committed to provide it with $40 million in debtor-in-possession financing, subject to bankruptcy court approval.
Frontier CEO Sean Menke said Thursday that the funding would be used to refinance an existing DIP loan that matures in April and preserve the Denver-based airline's financial stability as it works to emerge from bankruptcy later this year.
As a condition of the loan, Frontier has agreed to allow Indianapolis-based Republic a stipulated damage claim of $150 million.
Frontier filed for Chapter 11 bankruptcy protection last April and received $30 million in DIP funding from Republic and others in August. The company expects to retire that debt by the end of March.
KKTV firmly believes in freedom of speech for all and we are happy to provide this forum for the community to share opinions and facts. We ask that commenters keep it clean, keep it truthful, stay on topic and be responsible. Comments left here do not necessarily represent the viewpoint of KKTV 11 News.
If you believe that any of the comments on our site are inappropriate or offensive, please tell us by clicking “Report Abuse” and answering the questions that follow. We will review any reported comments promptly.powered by Disqus