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and we got screwed------------maybe something will show up w this in future but im not holding my breath------------being real careful w the q,s from now on though-----gl --- im off to a weeks vacation now-------tmonkey
it shows in mine too. if we have to take a loss (for tax) it should zero out, instead of hanging in there. Our frineds at RJET got a good deal. the entire fleet with the hubs for $108MM.
looks bad but i want to know if we dont have the rights to profits made before takeover---it was OUR co. then--------------------not sure if we have legal rights here---------stock still shows up in my accnt though-----------------tmonkey
Are we done here? Can they just cancel the stocks? Any legal actions we can take?
i cant believe they can steal this from us---MAYBE we will see something anyway out of this in our accnts--they earned $ until oct 1 and this should be the shareholders that believed in them------------ive got my shares and didnt bail---if i loose so be it----it wont be the first time----------tmonkey
Not all Q stocks, only those that intend to ahve their shares cancelled. Some re-emerge and still trade publicly and well... skyrocket!
FRNTQ CHART For Educational Purpose Only Stock Dead.
note* this is what happens to Q stocks at the end of Bankruptcy.
On pinksheets.com...
Oct 1, 2009 FRNTQ Frontier Airlines Holdings, Inc. Common Stock Pink Quote Deleted Plan of Bankruptcy effective immediately
Symbol has been deleted so this will no longer trade again. It may come back at a later date but will most likely do so under a new ticker/cusip and with new share organization.
Either way, those shares you have are worthless! Dirt that you're walking on outside is worth more than those shares! :)
Even though sec filing clearly states unsold shares are being canceled while never mentioning sold shares, which would leave one to believe that there may still be value to it. Any thoughts?
As they're not issuing a new ticker symbol for FRNTQ, your shares are worthless. You can claim a loss on them for 2009. The reason why the price would likely be up where it is is b/c some people just need a safe bet on a loss to offset some capital gains they made.
Well, that's my theory at least.
Onto the next play now :)
What happens to investors who have shares already. Sec filing indicates unsold shares are being canceled. How about sold shares.
Thanks.
DEREGISTRATION OF SHARES (full filing @ http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=6821463)
This Post-Effective Amendment No. 1 to the Registration Statement on Form S-8, as amended (No. 333-140474) (the “Registration Statement”), which became effective on February 6, 2007, pertaining to the registration of 1,600,000 shares of the common stock of Frontier Airlines Holdings, Inc. (the “Company”) issuable under the Company’s Employee Stock Ownership Plan, is being filed to terminate the effectiveness of the Registration Statement and to deregister all unsold shares of common stock of the Company, the sale of which was registered under the Registration Statement, as of the effective date of this post-effective amendment.
News for 'FRNTQ' - (DJ Airline Shares Fall With UAL Down Sharply On Stock, Debt Issue)
FRNTQ News -- DJ Airline Shares Fall With UAL Down Sharply On St...
Thursday, October 1, 2009 10:16 AM
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News for 'FRNTQ' - (DJ Airline Shares Fall With UAL Down Sharply On Stock, Debt Issue)
By Christopher Hinton
Airline stocks were down early Thursday with United parent UAL Corp. off sharply after announcing it would issue new stock and debt.
At last check, the NYSE Arca Airline Index (XAL) fell 3.3% to 27.84 points with all but one of its 13 components in the red. In the past 52 weeks, the benchmark index moved in a range of 30.95 to as low as 12.62 points.
The Dow Jones Industrial Average (DJI) meanwhile, fell about 63 points to 9,650.
Shares of US Airways (LCC) slipped 3.6% to $4.53, Continental (CAL) lost 4% to $15.75 and Delta Air Lines (DAL) fell 3% to $8.67.
Shares of United parent UAL (UAUA) fell nearly 9% to $8.41, as shareholders cashed in on a widely expected issuance of new common stock and debt.
Late Wednesday, the Chicago carrier said it would offer 19 million additional shares and $175 million in convertible senior notes, using the funds for general purposes. It will also offer nearly 2.9 million shares and $26.3 million in notes to the underwriters to cover over-allotments.
The announcement is the latest cash-raising story to come out of the troubled industry. In the past month, AMR, US Airways and Delta have renegotiated their loan covenants, entered sale-leaseback agreements for their equipment, issued new shares and debt to provide needed liquidity for the leaner winter months ahead.
"The industry needs all the cash it can get," said bond researcher CreditSights.
Thursday's dilution in UAL's share price shouldn't concern stakeholders too much, as the stock has seen a nearly 50% jump in value since Sept. 1, CreditSights said.
However, the firm also warned that airline equity and fundamentals remain weak and played down any further recovery in airline equity prices.
"Airline equity is really a short-term security anyway, as recurring restructurings and liquidity events erode if not eliminate existing shareholders over time," the CreditSights said.
Investors jumped into airlines last month, pushing up the NYSE Arca Airline Index by more than 27% as the industry tapped thawing credit markets to strengthen its liquidity position. The benchmark Dow Jones Industrial Average rose just 4% over the same period.
Rising on Thursday were shares of Ryanair (RYAAY), up a dime to $29.14, and Tam Sa (TAM) traded sideways at $12.91.
Outside the index, Midwest Airlines is expected to ground the last of its Boeing (BA) 717 jets by Dec. 1, laying off about 170 people including pilots and flight attendants, the Milwaukee-Wisconsin Journal Sentinel reported.
Midwest was taken over by Republic Airways Holdings Inc. (RJET) in June, which will replace the Boeing planes with Republic-staffed Embraer (ERJ) E190 jets, and with Airbus A319 aircraft from Frontier Airlines, the newspaper reported.
Frontier (FRNT) was snatched up by Republic in August while it was in bankruptcy. The Denver carrier is expected to emerge from restructuring on Thursday, according to the Associated Press.
-Christopher Hinton; 415-439-6400; AskNewswires@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=6adYHPR%2BcBp1XAN9MyupeA%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
October 01, 2009 10:14 ET (14:14 GMT)
Copyright (c) 2009 Dow Jones & Company, Inc.- - 10 14 AM EDT 10-01-09
Source: DJ Broad Tape
News for 'FRNTQ' - (Frontier Airlines Emerges from Chapter 11 Protection Business as Usual for Frontier Customers)
FRNTQ News -- Frontier Airlines Emerges from Chapter 11 Protecti...
Thursday, October 1, 2009 10:27 AM
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News for 'FRNTQ' - (Frontier Airlines Emerges from Chapter 11 Protection Business as Usual for Frontier Customers)
DENVER, Oct 01, 2009 (BUSINESS WIRE) -- Frontier Airlines Holdings, Inc.
announced today that Republic Airways Holdings, Inc. (NASDAQ: RJET) has
completed its acquisition of the Company. Upon the closing of the transaction,
Frontier Airlines Holdings, Inc., Frontier Airlines, Inc. and Lynx Aviation,
Inc. successfully emerged from Chapter 11 bankruptcy and are now wholly owned
subsidiaries of Republic. Frontier Airlines and Lynx Aviation will continue to
operate under their same names, offering the same flight schedules, customer
amenities and frequent flier benefits as in the past.
"This is the end of a long, difficult journey and the beginning of a new,
exciting one," said Frontier President and CEO Sean Menke. "My thanks go to our
Frontier and Lynx employees whose hard work and sacrifice enabled us to
successfully restructure our Company into an incredible success story. Thanks as
well to our loyal customers who continued to support us when many others doubted
we would succeed. We will continue to focus on the same safe, efficient,
customer-friendly service our customers have come to expect from us."
Menke continued, "We are also looking forward to building on our relationships
and working with both Republic and Midwest Airlines to build a strong,
sustainable, competitive airline for years to come."
About Frontier Airlines Holdings, Inc.
Frontier Airlines is a wholly owned subsidiary of Republic Airways Holdings,
Inc., an airline holding company that owns Chautauqua Airlines, Midwest
Airlines, Mokulele Airlines, Republic Airlines and Shuttle America. Currently in
its 16th year of operations, Frontier Airlines is the second-largest jet service
carrier at Denver International Airport, employing approximately 5,000 aviation
professionals. Frontier Airlines is made up of one of the youngest Airbus fleets
in North America offering 24 channels of DIRECTV(R) service in every seatback
along with a comfortable all-coach configuration. Frontier offers routes to more
than 50 destinations in the U.S., Mexico and Costa Rica. In addition, Frontier
and Midwest Airlines have a codeshare partnership that allows passengers of both
airlines access to 70 destinations in the U.S., Mexico and Costa Rica.
SOURCE: Frontier Airlines Web site: FrontierAirlines.com
SOURCE: Frontier Airlines Holdings, Inc.
CONTACT:
Frontier Airlines Holdings, Inc.
Corporate Communications, 720-374-4560
media@flyfrontier.com
Copyright Business Wire 2009
-0-
KEYWORD: United States
North America
Colorado
INDUSTRY KEYWORD: Transport
Air
Travel
Cruise
Destinations
Vacation
Lodging
Transportation
Other Travel
SUBJECT CODE: Bankruptcy
Source: Comtext Market News
News for 'FRNTQ' - (Republic Airways Completes Acquisition of Frontier Airlines)
FRNTQ News Republic Airways Completes Acquisition of Frontier...
Thursday, October 1, 2009 10:29 AM
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News for 'FRNTQ' - (Republic Airways Completes Acquisition of Frontier Airlines)
INDIANAPOLIS, Oct 01, 2009 (BUSINESS WIRE) -- Republic Airways Holdings
(NASDAQ/NM: RJET) today announced that it has completed its acquisition of
Denver-based Frontier Airlines Holdings. Republic, which was the sponsor of
Frontier's plan of reorganization, acquired 100% of the equity in the
reorganized company for $108.75 million via an auction process in Frontier's
Chapter 11 bankruptcy case.
With the close of the transaction, Frontier joins Chautauqua Airlines, Midwest
Airlines, Mokulele Airlines, Republic Airlines and Shuttle America as a
subsidiary of Republic Airways Holdings.
On July 31, Republic completed its acquisition of Milwaukee-based Midwest
Airlines. Republic plans to continue both the Frontier and Midwest brands while
leveraging their unique strengths across the combined network.
"We welcome Frontier into the Republic Airways family," said Bryan Bedford,
Chairman, President and CEO of Republic. "We thank the employees of Frontier for
their hard work and the customers of Frontier for their continued loyalty.
Frontier's successful exit from Chapter 11 closes a difficult chapter in its
history and allows us to move forward together to capitalize on the many
opportunities to make two excellent brands even stronger."
Republic Airways Holdings, based in Indianapolis, Indiana is an airline holding
company that owns Chautauqua Airlines, Frontier Airlines, Lynx Aviation, Midwest
Airlines, Mokulele Airlines, Republic Airlines and Shuttle America, collectively
"the airlines." The airlines offer scheduled passenger service on approximately
1,800 flights daily to 126 cities in 47 states, Canada, Mexico and Costa Rica
under branded operations at Frontier, Midwest and Mokulele, and through
fixed-fee airline services agreements with five major U.S. airlines. The
fixed-fee flights are operated under an airline partner brand, such as
AmericanConnection, Continental Express, Delta Connection, United Express, and
US Airways Express. The airlines currently employ over 11,000 aviation
professionals and operate 294 aircraft
In addition to historical information, this release contains forward-looking
statements. Republic Airways may, from time-to-time, make written or oral
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. Such statements encompass Republic Airways'
beliefs, expectations, hopes or intentions regarding future events. Words such
as "expects," "intends," "believes," "anticipates," "should," "likely" and
similar expressions identify forward-looking statements. All forward-looking
statements included in this release are made as of the date hereof and are based
on information available to Republic Airways as of such date. Republic Airways
assumes no obligation to update any forward-looking statement. Actual results
may vary, and may vary materially, from those anticipated, estimated, projected
or expected for a number of reasons, including, among others, the risks
discussed in our Form 10-K and our other filings made with the Securities and
Exchange Commission, which discussions are incorporated into this release by
reference.
SOURCE: Republic Airways Holdings
CONTACT:
Republic Airways Holdings
Carlo Bertolini, 317-484-6069
Copyright Business Wire 2009
-0-
KEYWORD: United States
North America
Colorado
Indiana
INDUSTRY KEYWORD: Transport
Air
Other Transport
Travel
Transportation
Other Travel
SUBJECT CODE: Merger/Acquisition
Source: Comtext Market News
News for 'FRNTQ' - (Frontier to close reservations operation in Las Cruces)
FRNTQ News Frontier to close reservations operation in Las Cruces
Wednesday, September 30, 2009 5:07 AM
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News for 'FRNTQ' - (Frontier to close reservations operation in Las Cruces)
Sep 30, 2009 (Datamonitor via COMTEX) -- Frontier Airlines Holdings has
reported that it will close its Las Cruces, New Mexico, reservations operation
in an effort to optimize operations in advance of its emergence from Chapter 11
bankruptcy protection.
The Las Cruces reservations center is expected to cease operations by the end of
2009. Frontier will reportedly emerge from bankruptcy on October 1, 2009, as a
wholly-owned subsidiary of Republic Airways Holdings.
According to Frontier Airlines, all current Las Cruces employees will have the
opportunity to apply for open positions at other locations within the company.
Frontier will provide moving assistance for employees who elect to relocate.
Employees who choose not to move to another Frontier location and are eligible
will receive severance pay.
Chris Collins, COO of Frontier, said: "We hope all of our team members will join
us in our other locations. This move will eliminate an operational duplication
that exists with our Midwest Airlines partnership. We understand the difficult
nature of this decision and its impact on our employees."
URL: http://www.datamonitor.com
Republication or redistribution, including by framing or similar means,
is expressly prohibited without prior written consent. Datamonitor shall
not be liable for errors or delays in the content, or for any actions
taken in reliance thereon
Copyright (C) 2009 Datamonitor. All rights reserved
-0-
Source: Comtex Wall Street News
Rally into losing all your shares?
.079 STILL GETTING HIT
Shares are being CANCELLED...
When a 'Q' company does not explain whats going to happen to the shares after the merge, statistics show that the shares will be cancelled, meaning no value.
It's too bad... RJET is getting a good money making company as a result!
Just talked to IR at Frontier, all shares cancelled
Oct 1st is D-Day... that's when you either lose all your investment in FRNTQ (what I think will happen) or you'll make $$$ on the skyrocketting value (what I hope will happen.)
FRNTQ, coming out of BK on Oct 1
Actually folks, as per their latest 8-k, the outstanding stock will have no value and will be cancelled. We lose everything. In addition to that, all of the directors have been dumping their shares - read the form 4s on pinksheets.com. If this were to survive, they wouldn't be selling their shares.
Under the revised Investment Agreement and the Debtors’ Plan of Reorganization, the Company’s current outstanding common stock will have no value and will be canceled.
http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=6775126
Sorry for the gloomy situation, I was in the same boat and was just riding the momentum but it's time to get off this boat.
Here's what someone else thinks is gonna happen Oct 1st:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=41891465&txt2find=frntq
Good luck,
Chris
this news was from sept 10 and the stock has traded in the 10-13 range since until yesterday and still buyers------didnt see re-release of news on fri but everyone saw it before and kept buying ---im gone this week and will see where we are after oct 1 --people have had this news 2 weeks ---ill take a shot on haging in there----------------------- tmonkey
That is what I thought as well until I did find this article that does state the shares will be canceled.
http://finance.yahoo.com/news/Frontier-Airlines-wins-apf-3852565087.html?x=0&.v=1
I am still trying to figure out why the share price dropped over 60% in about 10 minutes when the news hit Friday if people already knew this.
I am starting to think there will be a huge gap down Monday morning.
You might want to put a stop order in if your broker allows that. GLTY
pennyrat---i cant believe that this profitable airlines would cancel shares of holders AND employees that have faithfully invested their earnings in shares....would you want to go to work w a new employer that wiped out your life savings????? they will imo keep their new workforce happy......im back in as of yesterday at 6------------why would shorts buy back if the shares were to be canceled????? aand there were people buying the last few weeks much higher---and yesterday at bargain prices-----im away next week until after oct 1-----and feel that i will come back to more than i gave them yesterday-----gl all holders-----------------------tmonkey
Best thing to do is to go and DD other "Q" stocks from this year. The ones that I have followed which were bought out and merged, their shares were canceled. There is no mention of them buying FRNTQ's shares so I would be defensive with your money on this one, especially if you don't know whats going to happen with your shares.
Thanks, that is what I was thinking and hoping
Hope you are right
It still would be nice to know for a fact what the answer, not having any luck finding facts about this.
I am assuming that FRNTQ will keep their symbol the same, they will just be operating under RJET. It doesn't make sense that their shares would become worthless.
Do you know a way that this answer could be known for sure?
If they are worthless starting next week then who in their right mind would buy them other than people who had shares shorted and need to cover?
Was this info not known before the big sell off today?
Why would they even bother to put out (good) financial news if it doesn't matter?
Hope someone here can help
Thanks
Frontier expects to emerge from bankruptcy on Oct. 1 as a subsidiary of Republic Airways Holdings (NASDAQ: RJET), which plans to operate it as a separate airline under its own name.
http://denver.bizjournals.com/denver/stories/2009/09/21/daily86.html?ana=yfcpc
It sounds as if the old shares will be worthless. Even people who short the stock need to cleanse themselves of the shares before the effective date occurs or they'll lose out as well.
I don't know, so I will take the safe route.
I don't know, I hope someone here will have that answer?
Is it possible that they will just be worthless?
What will happen to the current shares when the reorganization plan takes place? When is the effective date?
if no shares in republic are to be issued this stock shouldnt be at .12--------tmonkey
The old Frontier shares will be canceled.
Article from ticker RJET. Will old shares of frntq be replaced?
Frontier says it resolved the few objections to its reorganization plan before winning approval from the judge in New York on Thursday. The plan calls for Frontier to emerge from bankruptcy as a unit of regional jet operator Republic Airways Holdings Inc. around Oct. 1.
The old Frontier shares will be canceled.
Article from
.07 on bid now ---i know it wont stay there but it has always been my buy in number and hope to get another chance-------------------------tmonkey
missed the dump yesterday-last 2 times i got 7s and let them go on way up------------hope for another chance before they address fate of common sh in black and white-----------tmonkey
This stock can do anything IMO
"the company will emerge from bankruptcy on or about 1 October 2009, as a wholly owned subsidiary of Republic Airways Holdings Inc (NASDAQ:RJET). "
Does this mean our current shares are going to be worthless??
?????
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Headquarters
7001 Tower Road
Denver, CO 80249
Contact
Phone: 720-374-4200
Fax: 720-374-4375
Web site
http://www.frontierairlines.com
Basics
Sector: Services
Industry: Regional Airlines
Full Time Employees: 5,200
Exchange: NASDAQ
Ownership
Shares Outstanding: 36.64M
Float: 29.77M
% Held by Insiders: 27.22%
% Held by Institutions: 60.80%
Background
Frontier Airlines Holdings, Inc., through its subsidiaries, provides air transportation for passengers and freight. The company operates jet service carriers linking from its Denver, Colorado hub to 46 cities coast-to-coast, 8 cities in Mexico, and 1 city in Canada, as well as provides service from other non-hub cities, including service from 10 non-hub cities to Mexico. As of May 18, 2007 it operated 59 jets, including 49 Airbus A319s and 10 Airbus A318s. The company was founded in 1994 and is headquartered in Denver, Colorado.
Moderator's Disclaimer - This board is for Frontier Airlines discussion purposes only and in no way a recommendation to invest or not in this stock. Any investment decisions should be based on your own due diligence and decision. You are solely responsible for your choices to buy or sell. This is a disclaimer and in no way holds the moderators legally liable for your investments.
Share price
Sean Menke Speaks Out
Frontier CEO: Credit-card processors eyeing airline industry
Thursday April 17, 6:30 pm ET
By Sandy Shore, AP Business Writer
Credit-card processing companies visiting other airlines, Frontier Airlines CEO says
DENVER (AP) -- The head of Frontier Airlines Holdings Inc., which is reorganizing under bankruptcy protection, said Thursday credit-card processing companies are visiting other airlines, too, worried by the industry's financial struggles.
In an interview with The Associated Press, Chief Executive Officer Sean Menke said the processors are concerned because the industry is coping with persistently high fuel prices, a credit market crunch and the slowing economy.
The card processors don't want to be on the hook for ticket refunds if airlines stop flying.
"I do know that airlines are being visited and they're being visited for all the same reasons that we were visited," Menke said. He declined to name which airlines were involved.
Menke's comments came a week after the Denver-based parent of Frontier Airlines filed a Chapter 11 petition in U.S. Bankruptcy Court to gain protection as it restructures debt. He said Thursday the airline is focused on staying a standalone carrier as it reorganizes under bankruptcy protection.
Menke said Frontier was forced into the move because its credit card processing company, First Data Corp., sought to hold up to 100 percent of proceeds from ticket sales in reserve until the passengers' flights are completed.
The filing prevents Greenwood Village, Colo.-based First Data from implementing the change until Frontier emerges from bankruptcy or received a judge's approval.
"We're in discussions with them looking for a resolution to this," Menke said.
Some analysts who follow the credit card processing industry said it's likely that the companies would re-evaluate the risk potential of individual airlines.
"In my opinion, I think they will be doing that just because of what the airline industry is going through," said analyst Adil Moussa of Aite Group, which is a market research company for financial industry.
Any decision, however, depends on the individual carrier's financial picture, Digital Transactions magazine Editor John Stewart said.
From its Denver International Airport hub, Frontier battles Southwest and United Airlines in an atmosphere that has kept ticket prices low. Analysts have mixed views about whether the airline will emerge successfully from bankruptcy, saying a critical factor will be its reorganization plan.
Menke said he is re-evaluating every part of the operation. While nothing has been ruled out, he has no plans now to lay off any of Frontier's 6,000 employees.
Since he became CEO in August, the price of oil has risen $70 a barrel.
The airline has adjusted its routes, reached an agreement to sell four jets and laid off about 100 employees. It also launched a turboprop subsidiary, called Lynx Aviation, to reach into small and mid-sized markets with higher-yield traffic.
Last month, Frontier posted a record 84 percent load factor -- the number of seats filled on a plane. That compared with about 77 percent in March 2006.
"All the changes are being reflected in the bottom line relative to production," Menke said. "In any other year, I'd be doing cartwheels or backflips" with those results.
As he examines operations, Menke is focused on staying independent but is looking at marketing agreements or other such partnerships and implementing a tiered fare structure where passengers pay more for additional services.
"I think everybody understands the pressure this industry is under right now and we have to find ways of driving additional revenue," he said. "We have to find ways of finding more cost savings and that will continue to be my focus."
King Capital Investment Group
http://kingcapital.tripod.com
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