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Low-cost carrier Frontier hopes to raise over USD 600 million in IPO
Low-cost carrier Frontier hopes to ride the wave of positivity in the airline market by pocketing about $630 million in its planned IPO. It priced shares between $19 and $21 per share which would value the airline at roughly $4.5 billion.
Low cost carriers like Frontier are expected to bounce back quicker than legacy cariers due to their much lower cash burn and their focus on leisure routes.
Frontier will list its stock on the Nasdaq under the symbol ‘ULCC.’ It hopes to follow the ecent successful trading debut of Minnesota based low cost carrier Sun Country Airlines.
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