UPDATE 1-Frontier Airlines gets $40mln DIP commitment | Deals | Regulatory News | Reuters

*Republic to provide $40 mln DIP financing to Frontier
*Republic to get damage claim of $150 mln
*Agreement needs court approval
NEW YORK, March 5 (Reuters) - Frontier Airlines Holdings Inc (FRNTQ.PK) said on Thursday it received a commitment for $40 million debtor-in-possession financing from Republic Airways Holdings Inc (RJET.O).
The airline, which filed for Chapter 11 bankruptcy protection on April 10, 2008, said the new financing, which matures in April, preserves its stability as it seeks a plan to emerge from bankruptcy later this year.
It said that the financing comes with a condition that Frontier allow Republic a stipulated damage claim in the amount of $150 million. The agreement also needs to be approved by bankruptcy court.
Frontier already received $30 million in DIP funding from Republic and Credit Suisse Securities and AQR Capital in August 2008. Republic said in the statement that Frontier is on the right path to emerge from bankruptcy this summer. (Reporting by Sinead Carew; Editing by Gary Hill)

 

Hope Frontier is able to pull through.

 

I also hope that Frontier is able to pull through.

Look Mom, I got my positive 2 cents in. Hope this thread doesn't go south like its cousin! LOL

 

There's something to be said for the place. All the crews I meet are very happy to work there. Wish them the best. I know we have a lot of guys that hope to work there one day.

 

Well it looks like RJET stocks are up today as well as JBLU. Day to day swings in the market man. I'm looking forward to when things stabilize!