Funds service Frontier Airways recordsdata for an IPO once more
Frontier Airlines aircraft stand at the gates of the A Concourse at Denver International Airport in Denver.
David Zalubowski | AP
Frontier Airlines filed for an IPO on Monday, a second attempt at going public as the industry positions itself for a recovery from the Covid-19 pandemic.
The airline is owned by private equity firm Indigo Partners, whose managing partner is aviation industry veteran and budget pioneer Bill Franke, chairman of Frontier Airlines.
Airlines are preparing for a rebound in travel demand after US passenger numbers fell more than 60% last year, to their lowest level since 1984.
Low-cost airlines with similar models to Frontier were the most optimistic about the recovery. Rival Spirit Airlines, for example, is starting again this month with the hiring of pilots and flight attendants. Domestic vacation travel, which these airlines were already focusing on before the pandemic, is recovering faster than business and international travel.
Frontier recorded a loss of $ 225 million on sales of $ 1.25 billion in 2020, compared to net income of $ 251 million on sales of $ 2.5 billion the previous year.
The company dropped plans to go public last summer after filing in 2017.
The Denver-based airline plans to list on the Nasdaq under the ticker FRNT.