Republic CEO Bryan Bedford was on Bloomberg TV/radio yesterday and gave an update on Frontier and the up-coming IPO/spin-off.

During the interview, Bedford stated:

1) A private equity firm is the most likely to invest or make an offer for Frontier. However, the number of private equity players interested in Frontier is "small."

2) There is basically no interest by other airlines.

3) Frontier is expected to post a Q2 loss. We'll have to wait and see if the loss is operational or caused by charges related to the restructuring. In any event, Frontier will likely lag most of it's peers in financial performance once results are released.

4) Frontier will adopt aspects of ULCCs Allegiant and Spirit.

I can't say I'm surprised there is so little interest in Frontier. Their business model and market positions in DEN, MCI, and MKE are likely not sustainable long-term. It will be interesting to see how things unfold during the year.