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The Denver-based ultra-low-cost carrier (ULCC) filed paperwork with the Securities and Exchange Commission Friday declaring its plan for an initial public offering.
The proposed maximum aggregate offering price of the IPO is $100 million.
Frontier didn’t say when it expects the sale to be held and company spokesman Jim Faulkner declined to comment on the IPO Monday morning.
The company’s first regulatory move toward a public stock sale comes a bit more than three years after Indigo Partners, led by veteran budget carrier investor William Franke, acquired Frontier.
Since that time Indigo has transformed Frontier from a traditional carrier into one that follows the ultra-low-cost model, with inexpensive base fares and fees for numerous add-on services, including carry-on bags, checked bags and advance seat assignments.
Indigo has also transformed Frontier from a mainly Denver-centric carrier to one with a national point-to-point network. In December 2013, 90% of Denver flights touched down or flew from Denver. That figure was halved to 45% by the end of last year, the company said in the regulatory filing.
Frontier served 59 destinations as of the end of 2016 with a fleet of 66 Airbus A320 single-aisle aircraft. It plans to expand its fleet to121 narrow-bodies by the end of 2021.
The carrier’s net income in 2016 was $200 million, up from $146 million a year earlier.
“Through the implementation of our new operating model, we have positioned our brand as a premier ULCC in the United States and have seen a dramatic improvement to our profitability,” Frontier said in the regulatory filing.
Sоurсе: travelweekly.com
 filed paperwork with the Securities and Exchange Commission Friday declaring its plan for an initial public offering. The proposed maximum aggregate offering price of the IPO is $100 million. Frontier didn't say when it expects… "Pin It")