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Frontier Airlines hopes IPO rides wave of travel recovery

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Fans of Frontier Airlines can now buy a piece of the budget carrier.

Frontier shares began public trading Thursday, and company executives are hoping to get a tailwind from what seems to be a recovery in air travel.

Denver-based Frontier and its private investors expect to gross about $570 million from the IPO.

Company officials say the money will shore up their balance sheet after a terrible year in 2020, when the pandemic caused Frontier to lose $225 million.

CEO Barry Biffle says Frontier will stay focused on the leisure-travel market, unlike bigger airlines that depend on high-paying business travelers.