Republic Airways dishes out raises to top execs

Indianapolis-based Republic Airways Holdings Inc. has renewed employment contracts with its three top executives and sweetened their compensation.

Salary and minimum bonus for CEO and Chairman Bryan Bedford increased to $787,500 from $510,000. His minimum bonus nearly doubled, to $337,500. Bedford’s contract, which was to expire in July, now extends through June 2008.

Smaller boosts in compensation also were awarded to Executive Vice President and Chief Financial Officer Robert Cooper and to Executive Vice President and Chief Operating Officer Wayne Heller.

The board “wanted to ensure we had the services of our top three officers,” said Republic Vice President Warren Wilkinson.

Republic operates Chautauqua Airlines and flies regional service for most major airlines including American, Delta and US Airways.

Profit last year rose 31 percent to $79.5 million. Over the last 12 months its stock price has soared 43 percent and now trades at just under $20 a share.

Please enable JavaScript to view this content.

Story Continues Below

Editor's note: You can comment on IBJ stories by signing in to your IBJ account. If you have not registered, please sign up for a free account now. Please note our updated comment policy that will govern how comments are moderated.

{{ articles_remaining }}
Free {{ article_text }} Remaining
{{ articles_remaining }}
Free {{ article_text }} Remaining Article limit resets on
{{ count_down }}