Frontier Airlines to become subsidiary of holding company.
Frontier Airlines Inc (Nasdaq:FRNT) has said that its shareholders have approved a plan of reorganisation to form a Delaware holding company.
The carrier said that the plan of reorganisation means that Frontier Airlines Inc will become a wholly-owned subsidiary of Frontier Airlines Holdings Inc and the current shareholders of Frontier Airlines will become stockholders of Frontier Airlines Holdings, with the same number and percentage of shares of Frontier Airlines Holdings as they hold of Frontier Airlines prior to the reorganisation.
The common stock of Frontier Airlines Holdings is expected to trade on the Nasdaq National Market under the symbol 'FRNT' after the reorganisation.
Frontier Airlines also said that it expects that the reorganisation will be tax-free to its existing shareholders.
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|Publication:||Airline Industry Information|
|Article Type:||Brief article|
|Date:||Mar 29, 2006|
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