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(Reuters) - Low-cost carrier Frontier Airlines is preparing for an initial public offering and has hired banks to plan the debut, The New York Times reported, citing people familiar with the matter.
The Denver-based airline is aiming to raise about $500 million, valuing the company at about $2 billion, NYT said, citing sources.
A spokesman for Frontier Airlines, which is owned by private equity firm Indigo Partners, declined to comment. Deutsche Bank, JPMorgan Chase and Evercore were not immediately available for comment outside U.S. business hours.
Reporting by Rama Venkat Raman in Bengaluru; Editing by Sunil Nair