Frontier Group Holdings, Inc. is preparing for an initial public offering (IPO) and has hired banks to plan the debut, The New York Times reported, citing people familiar with the matter. Frontier Airlines has hired Deutsche Bank AG , JPMorgan Chase & Co and Evercore to manage the debut, the newspaper reported. Frontier Airlines is aiming to raise about $500 million, valuing the company at about $2 billion, NYT said, citing sources.