In more aviation news, Frontier Airlines announced a small portion of its stock is going public with a $630m IPO. If all goes according to plan (but then again, the travel industry knows a thing or two about busted plans), the budget airline will sell 30 million shares at a $19-21 price range. This would value the company at $4.5b following the public listing.
This is actually Frontier’s second attempt at a public listing — it tried to join the stock markets last year but Covid-19 shut those plans down (relatable, huh?). Will the second time be the charm? One of its biggest advantages this time is that it caters to domestic US leisure travel, which is set to register higher demand than international travel for the foreseeable future.
*Warning* salt ahead — the carrier’s financial sheet could do with the capital injection after posting a $225m loss in 2020. Plus, fellow US low-cost carrier Sun Country Airline’s own successful IPO last week must have provided that extra confidence boost.