In the 1920s, Indianapolis was one of the most innovative cities in the nation. But after “the dark tragedy of the roaring twenties,” Indianapolis lost its edginess for decades and only recently has begun to regain it.
Republic Airways Holdings Inc. shares soared Wednesday morning to their biggest-ever intraday gain, clawing back from a record plunge earlier this week caused by concern that a pilot shortage will disrupt the regional flying it does for bigger U.S. carriers.
Republic Airways Holdings Inc. stock dove Monday morning after the Indianapolis-based company slashed its profit outlook and warned of more flight interruptions from an ongoing labor dispute with pilots.
The company says it will bring on 1,400 new workers at central Indiana fulfillment centers in Indianapolis, Plainfield, and Whitestown, as well as an additional 700 workers at its Jeffersonville location in southern Indiana.
The Teamsters sued Republic, Shuttle America and parent Republic Airways Holdings Inc. last week in federal district court in Indianapolis. The union, which has been negotiating for a new contract since 2007, said the extra pay undercuts its bargaining position.