Frontier Airlines has taken the first step to a public offering of stock, with the hiring of banks to plan for an IPO.
Deutsche Bank AG, JPMorgan Chase & Co and Evercore are onboard according to the New York Times, which cites people familiar with the matter.
The low cost carrier is looking to raise about US$500 million, which would put the comoany’s value at about $2 billion.
An initial public offering has been long in the works for Denver based Frontier.
The carrier reportedly began initial talks with banks back in December 2015.
Frontier is owned by private equity firm Indigo Partners which is helmed by veteran airline executive William Franke.
