We consider a cell-free massive multiple-input multiple-output (mMIMO) network, where unmanned aerial vehicles (UAVs) equipped with multiple antennas serve as distributed UAV-access points (UAV-APs). These UAV-APs provide seamless coverage by jointly serving user equipments (UEs) without predefined cell boundaries. However, high-capacity wireless networks face significant challenges due to fronthaul limitations in UAV-assisted architectures. This letter proposes a novel UAVbased cell-free mMIMO framework that leverages distributed UAV-APs to serve UEs while addressing the capacity constraints of wireless fronthaul links. We evaluate functional split Options 7.2 and 8 for the fronthaul links, aiming to maximize the minimum signal-to-interference-plus-noise ratio (SINR) among the UEs and minimize the power consumption by optimizing the transmit powers of UAV-APs and selectively activating them. Our analysis compares sub-6 GHz and millimeter wave (mmWave) bands for the fronthaul, showing that mmWave achieves superior SINR with lower power consumption, particularly under Option 8. Additionally, we determine the minimum fronthaul bandwidth required to activate a single UAV-AP under different split options.