Originally Posted by ONCALL

Republic’s Investment Agreement Approved
Auction period runs until Aug. 10

Today, the judge presiding over our Chapter 11 bankruptcy case in the U.S. Bankruptcy Court approved the proposed investment agreement by Republic Airways Holdings, Inc. Under the agreement Republic will purchase 100% of the Company’s stock upon emergence for $108.75 million, so long as certain conditions are met. Frontier Airlines Holdings, Inc. would become a wholly-owned subsidiary of Republic, with both Frontier and Lynx continuing to operate as usual under their current names.

The investment agreement provides for an auction period, during which the Company may seek higher or otherwise better competing bids. If such a bid is identified, the Company can terminate the Republic investment agreement and accept the other offer. Any interested bidders must submit an initial proposal by Aug. 3 and a final proposal by Aug. 10. If necessary, we will conduct an auction with the Unsecured Creditors’ Committee on Aug. 11 to consider all qualified proposals and determine the highest or otherwise best proposal.
Under this timeline the Company expects to emerge from Chapter 11 this autumn