With recovery on radar, two US budget airlines plot IPOs
US low-cost airlines Frontier and Sun Country plan to raise cash through 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 $200m, regulatory filings show. In its IPO filing, Frontier said that it was “well positioned to take advantage of the anticipated demand recovery as vaccine distribution continues.” Meanwhile, Sun Country, which first announced its IPO last month, expects to list around 9m shares of its common stock at $21.00 to $23.00 per share.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2021-03-10/unaligned/with-recovery-on-radar-two-us-budget-airlines-plot-ipos
https://portal.staralliance.com/cms/logo.png
With recovery on radar, two US budget airlines plot IPOs
US low-cost airlines Frontier and Sun Country plan to raise cash through 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 $200m, regulatory filings show. In its IPO filing, Frontier said that it was “well positioned to take advantage of the anticipated demand recovery as vaccine distribution continues.” Meanwhile, Sun Country, which first announced its IPO last month, expects to list around 9m shares of its common stock at $21.00 to $23.00 per share.<br/>
