Republic Airways Holdings Inc. announced Tuesday that a majority of its 2,100 pilots have approved a new three-year contract, ending a years-long labor dispute that threatened to put the regional airline out of business.
Republic Airways Holdings Inc. shares bounced back quickly Wednesday afternoon after the airline’s pilot union said it was ready to resume talks on a contract, easing investor concern of a possible bankruptcy.
Shares in Republic Airways Holdings Inc. continued to plunge Wednesday morning on investor concern that a bankruptcy is possible after Teamsters officials declined to force a vote on the regional carrier’s final contract offer to pilots.
Republic Airways Holdings Inc. may be moving closer to a possible bankruptcy after national Teamster officials backed a local pilot union’s decision against voting on the carrier’s final contract offer.
Republic Airways Holdings Inc. could be facing bankruptcy after a pilots union recommended against allowing members to vote on the carrier’s latest and possibly final contract offer. Company shares fell 37 percent Wednesday.