Republic Airways dishes out raises to top execs

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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.

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