{"id":111110,"date":"2021-04-01T17:40:07","date_gmt":"2021-04-01T17:40:07","guid":{"rendered":"https:\/\/fin2me.com\/?p=111110"},"modified":"2021-04-01T17:40:07","modified_gmt":"2021-04-01T17:40:07","slug":"frontier-airlines-ipo-suggests-travel-sector-is-bouncing-back-from-pandemic-losses","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/frontier-airlines-ipo-suggests-travel-sector-is-bouncing-back-from-pandemic-losses\/","title":{"rendered":"Frontier airlines IPO suggests travel sector is bouncing back from pandemic losses"},"content":{"rendered":"

Stimulus bill allowing airline industry to ‘get through’ pandemic: Flight Attendants Association president<\/h2>\n

Flight Attendants Association president Sara Nelson discusses her outlook for the airline industry amid the coronavirus pandemic and vaccine rollout.<\/p>\n

Frontier Airlines announced its initial public offering Thursday.<\/p>\n

The Denver-based budget airline raised $570 million in an initial public offering, according to a Thursday announcement from its parent company Frontier Group Holdings Inc. The announcement signals a rebounding travel industry spurred by the COVID-19 vaccine, and more flight bookings industry-wide.<\/p>\n

<\/picture>\n

Frontier Airlines will trade publically under the ticker ULCC. (iStock).<\/span><\/p>\n

Frontier announced the pricing of its IPO, of 30 million shares of common stock, at $19.00 per share. The proposed offering was led by Citigroup, Barclays, Deutsche Bank Securities, Morgan Stanley and Evercore. The company starts trading on Thursday under the stock ticker ULCC.<\/p>\n\n\n\n\n\n\n
Ticker<\/th>\nSecurity<\/th>\nLast<\/th>\nChange<\/th>\nChange %<\/th>\n<\/tr>\n<\/thead>\n
ULCC<\/td>\nFRONTIER GROUP HOLDING INC.<\/td>\n18.61<\/td>\n-0.01<\/td>\n-0.03%<\/td>\n<\/tr>\n
Powered by<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Underwriters have a 30-day option to purchase an additional 4.5 million shares of common stock from a selling shareholder, Frontier said. The airline anticipates net proceeds of $266 million and will not receive any proceeds from the sale of the 15 million shares by the selling stockholders.<\/p>\n

FRONTIER AIRLINES FILES FOR IPO AS TRAVEL INDUSTRY GEARS UP FOR REBOUND <\/strong><\/p>\n

Frontier last filed for an IPO in 2017, but later withdrew. It reported $225 million in losses for 2020 on $1.25 billion in revenue, compared with a net income of $251 million on $2.5 billion in sales in 2019, according to its regulatory filing.<\/p>\n

GET FOX BUSINESS ON THE GO BY CLICKING HERE<\/strong><\/p>\n

The airline’s IPO comes as more budget airlines focus on recovering from devastating revenue losses in 2020.  Minneapolis-based low-cost air carrier Sun Country Airlines on earlier this month also launched an IPO to raise around $200 million, according to regulatory filings.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Stimulus bill allowing airline industry to ‘get through’ pandemic: Flight Attendants Association president Flight Attendants Association president Sara Nelson discusses her outlook for the airline […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"\nFrontier airlines IPO suggests travel sector is bouncing back from pandemic losses - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/business\/frontier-airlines-ipo-suggests-travel-sector-is-bouncing-back-from-pandemic-losses\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Frontier airlines IPO suggests travel sector is bouncing back from pandemic losses - 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