Frontier has significantly reduced its reliance on flights to and from its home base of Denver, but that continues to account for 45 percent of its business. Such concentration could put the airline at a disadvantage relative to larger competitors. Lack of scale was one reason Alaska Air and Virgin America sought to combine. Perhaps a merger with fellow ultra-low cost competitor Spirit Airlines might eventually make sense, but the opportunities for Frontier to strike a deal appear low in the short term. JetBlue Airways Corp. competed with Alaska to buy Virgin America, but Frontier would be a weird consolation prize. If anything, JetBlue could set its sights on a deal with the combined Alaska-Virgin America, notes Ferguson of Bloomberg Intelligence.

https://skift.com/2017/04/03/is-the-...-airlines-ipo/