Republic Has Nonbinding Agreement To Sell Frontier

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(credit: CBS)

(credit: CBS)

DENVER (AP) — Republic Airways Holdings Inc. says it has entered into a nonbinding preliminary agreement with a third party that could buy its Frontier Airlines subsidiary.

The Denver Post reports that during a second-quarter earnings call Friday, Republic Chairman and CEO Bryan Bedford said he would make no assurances about the deal. He didn’t disclose the potential buyer but said if a final agreement is reached, the sale would likely close sometime during the third quarter.

Indianapolis-based Republic has been trying to sell Denver-based Frontier since 2011.

(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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