Getting your player ready...
Standard & Poor’s dropped Frontier Airlines’ parent company, Frontier Airlines Holdings Inc., from its S&P SmallCap 600 index Friday because of its bankruptcy filing.
Taking Denver-based Frontier’s place in the index will be NutriSystem Inc., based in Horsham, Pa.
As a result of Frontier’s bankruptcy filing Thursday, it didn’t meet several of the eligibility requirements of the index, said Standard & Poor’s spokesman David Guarino.
“Any investment product that tracks the index would have to make the adjustment,” Guarino said. “So if their goal was to replicate the adjustment, they’d have to sell the shares.”
Frontier shares closed at 80 cents Monday, up 66.7 percent.
