Today's supposed to be the day when an auction for Frontier Airlines gets underway, with most observers expecting that Southwest Airlines would walk away with the Denver-based carrier. Moments ago, however, Reuters reported that negotiations between Southwest and Frontier pilots, which were supposed to be completed by last night, apparently remain unresolved.
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What are the potential repercussions? Here are the key lines from the Reuters piece:
Southwest had told pilots it would withdraw its bid for Frontier if both unions could not reach an agreement by midnight on August 12, according to an e-mail sent to Southwest pilots last night.
Southwest will petition the bankruptcy court for an extension Thursday on its final bid for Frontier, according to the e-mail.
So... will the auction be grounded? Stand by.