U.S. low-cost airlines Frontier and Sun Country plan to raise cash through initial public offerings (IPOs) as they prepare for a rebound in pandemic-hit travel.
Budget carriers are expected to bounce back quicker than larger rivals from the pandemic thanks to their lower-cost structures and focus on domestic leisure travel.
Frontier Airlines, which withdrew listing plans in July, filed again on Monday, after Apollo Global Management-backed Sun Country Airlines launched an IPO to raise around $200 million, regulatory filings show.
In its IPO filing, Denver, Colorado-based Frontier said that it was “well positioned to take advantage of the anticipated demand recovery as vaccine distribution continues.”
Source: Reuters
By Tracy Rucinski
