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Republic Airways reports improved quarterly results

October 29, 2014

Republic Airways Holdings Inc. on Tuesday reported higher revenue and profit in the third quarter.

The Indianapolis-based airline holding company reported profit of $18.5 million, or 35 cents per share, compared to a loss of $13.8 million, or 26 cents per share, in the same quarter of 2013.

Operating revenue rose 3.3 percent, to $349.7 million.

Republic said fixed-fee service revenue increased by 7.3 percent, or $23.4 million, to $343.7 million, due to increased flying of regional routes for American Airlines.

Passenger service revenue decreased $12.6 million due to the elimination of pro-rated flying for Frontier Airlines. But fuel expenses decreased $6.2 million primarily because of that elimination.

“We continue to be pleased with how our airline is performing both financially and operationally,” Republic CEO Bryan Bedford said in a prepared statement.

Republic owns Chautauqua Airlines, Republic Airlines and Shuttle America. It offers fixed-fee flights operated under major airline partner brands, including American Eagle, Delta Connection, United Express and US Airways Express.

Shares in Republic fell 4.5 percent Wednesday morning in early trading, to $11.80 each.
 

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