IBJNews

Republic sees better profit, revenue in 4th quarter

Back to TopCommentsE-mailPrintBookmark and Share

Republic Airways Holdings Inc. on Wednesday reported higher profit and revenue in the fourth quarter.

Profit rose nearly 24 percent over the same period of 2012, to $15.6 million. Operating revenue rose 5.8 percent, to $327.4 million.

Indianapolis-based Republic said full-year profit fell from $51.3 million in 2012 to $26.7 million in 2013 after a loss from discontinued operations of $21.6 million. The loss from discontinued operations was attributable to sale of Denver-based subsidiary Frontier Airlines.

Full-year income from continuing operations increased 54.3 percent, to $48.3 million, or 92 cents per share, compared with $31.3 million, or 63 cents per share, for 2012.

"This was a transformational year for Republic," said Republic Airways Holdings CEO Bryan Bedford in a prepared statement. "The improved operating results are a reflection of our renewed focus on our core, fixed-fee operation and the expansion of flying under capacity purchase agreements with American, Delta and United."
               
Republic shares fell 24 cents Wednesday before earnings were announced, to close at $8.79 each.

Republic owns Chautauqua Airlines, Republic Airlines and Shuttle America.
 

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
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
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

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