San Jose Bankruptcy Attorney Talks About Southwest and Frontier Airlines
San Jose Bankruptcy Attorney Talks About Southwest and Frontier Airlines
As a possible sign that the economy is turning a corner, Southwest Airlines made a bid of $113.6 million to buy Frontier Airlines. Frontier Airlines has been operating under Chapter 11 bankruptcy protection since April 2008. The bid is good news for Frontier Airlines because the more money it can raise, the better the chance that the company and all its employees can survive the chapter 11 bankruptcy. Although the purchase may mean the eventual demise of the Frontier name as Southwest absorbs its planes and routes. This move would help Southwest gain market share including busy Chicago.
The real news by the offer is that Frontier already had an offer of $108.8 million but Republic who would have allowed Frontier to keep operating under its own name. When there are multiple bidders then that is a sign that competitors are healthy enough to expand or that there is credit flowing. Either would be a distinct difference from the current news of global slowdowns or lack of credit.
At this time, it is too soon to tell but if companies in bankruptcy can emerge (such as Ford) or be brought (such as Frontier) then bankruptcy will no longer mean one foot in the grave, just an opportunity to relaunch.
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