No frills carrier Frontier Airlines has apparently taken the first steps in preparation of an initial public offering.
Bloomberg reports the airline is prepping to go public by hiring Barclays Plc, Deutsche Bank and JPMorgan Chase to underwrite the IPO, according to ‘people with knowledge of the matter.’
The carrier began talking with banks in December regarding an IPO, the report said.
Frontier is owned by private equity firm Indigo Partners which is fronted by veteran airline executive William Franke.
Indigo previously had a controlling stake in Spirit Airlines, which went public in 2011, and is also the biggest shareholder in Wizz Air, one of Europe’s largest budget airlines.
If Frontier goes ahead with an IPO it would be the first in the US airline industry since Virgin America’s public offering in 2014.
