Airline’s Bankruptcy on Hold

The expected bankruptcy filing for Frontier Airlines remained on hold today while an investment broker worked to put together a $150-million deal to buy the crippled airline on behalf of a West Coast trust.

Ellis Haughton of New Orleans said he is working to put together a Frontier buy-out package. He said the unidentified trust for which he was working is seeking a $150-million letter of credit. People Express, parent of Frontier, shut down the airline and said Frontier would file for bankruptcy after a proposed sale to United fell through.