RAH is not trying to get rid of F9, they are trying to get paid.

Spirit has a market cap of $1.1 Billion with a B.
Allegiant has a market cap of $960 million.
RJET has a market cap of $190 million, and that is after a 50% rally yesterday.

A private equity group is going to roll into this with around $100 million dollars and around a 50% stake in the Frontier.

Then the Frontier IPO occurs, and they multiply their $100 by 2, or 3, or 5.

After the IPO, the RAH BoD are all happy (remember, they own a large minority stake). The Frontier pilots are happy (remember, we own a small minority stake). The PE group will be the happiest when they turn their majority stake into a nice big piece of cheese.

These transactions have NOTHING to do with labor or the SLI. They have to do with business. The RAH BoD is going to do what is best for them and the people that own RJET shares.

TPG, Wexford, Indigo, or Oaktree. They would all throw $100 million at this thing tomorrow if they could.

After the IPO, it is going to be LCC merger mania. The remaining LCC's are going to merge in an effort to protect whatever market share that remains against the monolith SWA-Airtran.

Or, we go out of business tomorrow. 50/50 chance of either path, but I am liking our chances more every day.