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NEW YORK — Frontier Airlines Inc., the Denver-based discount carrier reorganizing in bankruptcy, has won approval of revisions to its bankruptcy loan that will provide an additional $10 million and lower the company’s borrowing costs.
The existing $30 million loan was to set to mature April 1, while the new $40 million loan runs through Dec. 1, according to court papers.
The new terms also reduce the interest rate to 13 percent from 14 percent and provide for lower commitment fees.
Republic Airways Holdings Inc., part of a group of lenders on the existing loan, will be the sole lender on the new loan.
