Republic posts bigger profit despite 12,400 flight cancellations

Back to TopCommentsE-mailPrintBookmark and Share

Republic Airways Holdings Inc.’s profit soared in the first quarter despite a significant drag on financial results due to weather-related flight cancellations.

The Indianapolis-based airline company on Thursday reported $14 million in profit in the quarter ended March 31, up from $300,000 in the same period of 2013. Last year’s first-quarter results were hurt by $11.1 in losses from discontinued operations at Frontier Airlines, which Republic sold late last year.

Republic stock rose 9.5 percent Thursday morning after the earnings report, to $9.10 per share.

Republic said it canceled more than 12,400 flights during the first quarter, primarily because of severe winter weather in January and February. It was a 145-percent increase in cancellations from the first quarter of 2013 and reduced financial results by about $7 million, Republic said.

"I am pleased we were able to report improved first quarter financial results despite the most severe weather events in a single quarter I can recall in my 27 years of experience in the airline industry,” Republic CEO Bryan Bedford said in a prepared statement.

Operating revenue increased nearly 4 percent in the quarter, to $337.5 million. Expenses rose 9.3 percent, to $303.3 million.

Passenger traffic for the first quarter increased 11.9 percent, to 2.6 billion revenue passenger miles, on a 6.3-percent rise in capacity.

Republic owns Chautauqua Airlines, Republic Airlines and Shuttle America.


Post a comment to this story

We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
You are legally responsible for what you post and your anonymity is not guaranteed.
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
Subscribe to IBJ