Frontier Air Surprises WestPac With a Bid
Frontier Airlines Inc. made a surprise offer to buy bankrupt Western Pacific Airlines Inc. WestPac took a $50-million reorganization plan to be funded by Smith Management Co. of New York to U.S. Bankruptcy Court in Denver on Friday, only to find attorneys for Frontier and investment partner Wexford Management ready to offer a competing plan. Both bids initially offer WestPac about $10 million in financing. In September, the two Denver carriers canceled a plan to merge under WestPac management.
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