Drift-flux analyses are a common way of estimating the phase fractions and fluxes in vertical multiphase flows. However their use has had scant impact on the flotation and foam fractionation communities despite the publication of a number of such analyses over the past two decades. By recognizing that the physics that underpin the hydrodynamics of the froth are dissimilar to those that pertain to the bubbly liquid beneath, we present a drift-flux analysis with two characteristic curves. A method for obtaining the characteristic curve for the froth from experimental data for the drainage of stationary foams is presented.