Republic Airways today completed its acquisition of Denver-based Frontier Airlines, officially making the Indianapolis flyer a major player in the airline industry.

Indianapolis-based Republic is transforming itself from a regional jet hauler of travelers for other airlines into a carrier that competes for its own passengers.

AIRLINE LAYOFFS: Union official says 150 Midwest jobs at risk.

With the close of the transaction that was announced this morning, Republic is now parent company of Chautauqua Airlines, Republic Airlines and Shuttle America — plus its newest acquisitions — Mokulele Airlines, Midwest Airlines and Frontier.

The combined airlines offer scheduled passenger service on about 1,800 flights daily to 126 cities in 47 states. They employ over 11,000 aviation professionals and operate 294 aircraft.

As expected, Republic did not say where it plans to place about 250 employees of Frontier, as Indianapolis is vying with Denver and Milwaukee for the jobs.

Bryan Bedford, the chairman, president and CEO of Republic, may have those details at the end of October.

“We welcome Frontier into the Republic Airways family,” Bedford said. “We thank the employees of Frontier for their hard work and the customers of Frontier for their continued loyalty. Frontier’s successful exit from Chapter 11 closes a difficult chapter in its history and allows us to move forward together.”

Frontier, the second-largest airline at Denver International Airport, filed for Chapter 11 bankruptcy protection April 10, 2008.

Republic outbid larger rival Southwest in an August bankruptcy auction, offering to pay $108.75 million as the winning bidder for all of the assets of Frontier and its subsidiary, Lynx Aviation.