Much of the value of the Frontier Airlines that the private equity group Indigo purchased was the Airbus aircraft orders that were on the books. These aircraft were negotiated and secured at an incredibly low rate.

****///Disclaimer - speculating here\\\****

With each aircraft that Indigo receives (and subsequently returns one currently on property with much less favorable terms), Indigo realizes a significant cost savings ($7 to $10 million?). If Indigo is able to pocket this savings themselves (versus allowing Frontier to benefit from the lower rate), Indigo can line their own pockets with each new aircraft that is received. It would depend on how the leases, both old and new, were structured. Because Indigo is privately held, this information is not public.

A one for one aircraft swap could represent a huge financial gain immediately to Indigo, while an addition of a new airframe (not a replacement) would represent more of a long term investment in Frontier and it's future value.

Could Indigo simply be lining their own pockets with each new aircraft that arrives on property (while perpetuating the illusion of growth)??