Frontier Airlines hopes IPO rides wave of travel recovery

Posted at 9:03 AM, Apr 02, 2021
and last updated 2021-04-02 11:23:28-04

Fans of Frontier Airlines can now buy a piece of the budget carrier. Frontier shares began public trading Thursday, and company executives are hoping to get a tailwind from what seems to be a recovery in air travel. Denver-based Frontier and its private investors expect to gross about $570 million from the IPO. Company officials say the money will shore up their balance sheet after a terrible year in 2020, when the pandemic caused Frontier to lose $225 million. CEO Barry Biffle says Frontier will stay focused on the leisure-travel market, unlike bigger airlines that depend on high-paying business travelers.