The airline has submitted a non-binding proposal in accordance with bidding procedures that were established in the US Bankruptcy Court for the Southern District of New York.
The bid is valued at a minimum of USD113.6m, higher than the USD108.75m bid that Republic Airways Holdings (NASDAQ:RJET) has filed.
Having submitted a non-binding proposal, Southwest can now engage with Frontier in the due diligence that is required to determine the scope of a binding proposal, which must be submitted to the court by 10 August 2009.
((Comments on this story may be sent to [email protected]))
