50 bucks plus $2.2B in long term debt and $4.2B in lease obligations. Frontier only has $244M in long term debt not counting leases. They aren't going to want to swallow the $2.2B as well as the leases, even for the 50 bucks. Plus what's in it for the current bondholders? Frontier stock? Won't be worth much once this debt load is added.