Frontier Group is aiming for a valuation of $4.52b in its US IPO, according to a regulatory filing by the low-cost carrier on Tuesday, as the industry prepares for a rebound from pandemic-driven travel lows. US airlines are beginning to emerge from the pandemic-induced crisis that has opened doors for carriers catering to domestic leisure travel, which is rebounding quicker than business and international travel, particularly as more people receive COVID-19 vaccines. Budget carriers are also expected to bounce back quicker than larger rivals, thanks to their lower-cost structures and focus on domestic leisure travel. Frontier, which withdrew listing plans in July, filed again this month, while Apollo Global Management-backed Sun Country Airlines made its successful stock market debut. Frontier plans to sell 30 million shares priced between $19 and $21 per share, aiming to raise about $630m.<br/>
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Southwest Airlines has resumed its traditional boarding procedures, ditching a pandemic policy of boarding passengers in smaller groups to promote social distancing. The nation's largest domestic carrier, which doesn't assign seats, began boarding passengers in groups of 30 on March 15. It had been boarding passengers in groups of 10 since it unveiled its "Southwest Promise" health and safety protocols in May. "The majority of our customers are familiar with Southwest’s standard boarding style and have an expectation for the normal boarding process as they return to travel," Southwest spokeswoman Brandy King said. Travel, which has been decimated by the coronavirus pandemic, is showing strong signs of life this month as more Americans are vaccinated and coronavirus case count trends improve in many areas of the country. US airport passenger counts have topped 1m a day for 12 consecutive days and 17 days total in March, according to TSA screening statistics. King noted that Southwest, like all airlines, continues to have "physical distancing" reminders at the airport and requires passengers to wear masks at the airport and on its planes.<br/>
Malaysia’s AirAsia Group and Aimia Holdings have signed a memorandum of understanding (MoU) for a $25m stock swap deal, for the latter’s 20% equity interest in the airline group’s loyalty programme. The parties inked a share sale and purchase agreement for Aimia to sell 1.67m ordinary shares in BigLife to AirAsia Group for a $25m consideration. This will be satisfied by 85.9m new ordinary shares in AirAsia Group, issued at MYR1.20 ($0.29) each, the company said in a 22 March Bursa Malaysia disclosure. If it materialises, the deal will increase Aimia’s stake in AirAsia Group to approximately 3.1%, the investment holding company said. AirAsia Group recently raised over MYR330b for short-term cash needs, from a private placement of 470m new shares. These were issued across two tranches in February and March, at MYR0.675 and MYR0.865 per share, respectively. A stock exchange filing shows the company had over 3.8b issued shares as at 17 March, upon the conclusion of the private placement, with MYR8.36b in issued share capital.<br/>
Former Spirit Airlines CE Ben Baldanza is to become vice-chairman of Indian carrier GoAir as it looks to strengthen its senior management and develop its ultra-low-cost model. Baldanza, who led budget carrier Spirit for a decade until the end of 2015, has been working as an advisor to GoAir since 2018 and became a director of the airline the following year. GoAir says Baldanza’s appointment is the first move following a board meeting that agreed plans on the next phase of the carrier’s growth. ”Amongst other initiatives, a key element of this plan, forged over weeks of discussions and consultation, was to further strengthen the management of the company by bringing on-board proven industry professionals, a strategy that has worked well for the group in its other ventures including Britannia,” the airline says. During Baldanza’s tenure, Spirit grew rapidly after positioning itself as an ultra-low-cost carrier and completed an IPO in 2011.<br/>
PIA told the Sindh High Court that it would ground all of its remaining Avions de Transport Régional turboprops by August 3, 2021, to alleviate safety concerns stemming from maintenance failures that caused a crash in 2016. The airline appeared in front of a two-judge panel overseeing an ongoing legal inquiry into the December 7, 2016, accident in which all 47 persons on board died in a crash of ATR42-500 AP-BHO during landing at Islamabad Benazir Bhutto Int'l. An investigation later revealed that improper maintenance led to a fracture of one of the propeller's blades. PIA's counsel underlined that while all of the carrier's aircraft are subject to regular inspections by the Pakistan Civil Aviation Authority (PCAA) and adhere to all safety norms, the retirement of the ATRs would improve the carrier's image.<br/>