Frontier Airlines to form holding company.
The board of directors of Frontier Airlines Inc (Nasdaq: FRNT) has approved a plan of reorganisation to form a Delaware holding company.
According to the carrier, the reorganisation plan provides 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 Inc is expected to continue to trade on the Nasdaq National Market under the symbol "FRNT" after the reorganisation.
Frontier Airlines 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:||Feb 1, 2006|
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