Originally Posted by Jerseyguy
(Post 21305363)
Looks like Hugo is a little late to the party, this has been known for awhile.
Initially, it was to have been sold by June. Now, it is suppose to happen in the next two weeks. Only time will tell. |
Since the latest deadline for the Indigo sale has been extended, Frontier employees are being pressured to make more concessions.
Management cajoled wage/working condition concessions from pilots and FAs in exchange for small equity stakes when Republic came in. Now pilots & FAs getting letters to give up their equity stakes or lose their jobs and other groups are being told they will have wage increases, 401 K, etc., if only pilots/FAs will give up their equity stake. All because Franke, who has had terrible labour relationships, wants them out before he will finalize purchase. Sad day for the employees. |
I have a Frontier flight next week, boy nothing inspires confidence when flying like knowing that one's pilots are likely to be disgruntled.
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Talks stalled out?
The long-awaited sale of Frontier Airlines is in jeopardy because of stalled negotiations between its pilots and the prospective buyer, Indigo Partners LLC, according to two people familiar with the investment firm's thinking. Indigo and Frontier's parent company, Republic Airways Holdings Inc. are not expected to reach a deal by Monday, when Indigo's exclusivity period is set to expire, according to one of these people. Republic has been trying for almost two years to off load Frontier, a Denver-based airline that carried 5.1 million passengers in the first half of this year. http://www.bizjournals.com/denver/ne...-to-be-in.html |
Take it for whatever you think it is worth, but TheStreet.com, a fairly reputable Wall Street paper, is saying that deal with the pilots has been done:
http://www.thestreet.com/story/12087...o&cm_ven=YAHOO "The Deal: Frontier Pilots on Board with Indigo Deal "A fair deal is in place," one source familiar with the pilot negotiations said. "Pilots are no longer an issue." |
Frontier on the block - RJET wants out
Congratulations to the pilots for making the deal, I know it's probably not close to what you think your owed, the smart money is on the deal without which Frontier's outllook looks bad
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For those who missed the news, and think it's still undecided because this thread keeps popping to the top of the forum (for other reasons):
http://www.flyertalk.com/forum/front...-frontier.html |
Originally Posted by sdsearch
(Post 21704828)
For those who missed the news, and think it's still undecided because this thread keeps popping to the top of the forum (for other reasons):
http://www.flyertalk.com/forum/front...-frontier.html They extended the deadline to October 31st to settle those negotiations. Since Republic has said nothing today, they either successfully concluded the negotiations - or they didn't. Take your pick. |
Originally Posted by davywavy
(Post 21704959)
As in that article, "pending negotiations with labor unions."
They extended the deadline to October 31st to settle those negotiations. Since Republic has said nothing today, they either successfully concluded the negotiations - or they didn't. Take your pick. http://finance.yahoo.com/news/statem...201500445.html "“Good progress has been made on all fronts as we work to satisfy conditions to close Indigo Partners' previously announced acquisition of Frontier Airlines from Republic Airways Holdings. “We are pleased to note in this regard that a tentative agreement has been reached with FAPAInvest on commercial matters. “While progress has been made, no agreement has been reached with Barclaycard about an extension of its credit card and associated line of credit. “We continue to work with the Association of Flight Attendants and we believe all sides recognize the importance of an agreement to both the AFA membership and to Frontier. “We remain hopeful that remaining conditions to closing can be achieved in the next few days.” So TheStreet.com com was right about the pilots and where the pilots go I assume the f/a's will follow - largely because they've said so. Which leaves Barclays and, once again, Frontier's future is in the hands of the CCP. Plus ça change….plus c'est la meme crap :-) |
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