Keep the equity stake!
Don't give up that equity stake, Frontier pilots!
Franke is going to put you over a barrel as it is - Spirit ALPA mistakenly didn't secure an equity stake in the airline, which would have made things a LOT better.
When Spirit IPO'd (and that is the only goal of Franke and Indigo, to 'fix up' Frontier and then take you public, obviously), the price was $12. SAVE now trades at $35 - almost a 300% return. 1% of Spirit would be worth $25.4M today. That's about $50K per pilot we gave up by not getting a 1% stake in Spirit.
$50K into Franke's pocket, or into yours. This is the first test of the Frontier pilots by Franke. Good luck - learn from Spirit ALPA's mistakes.