Republic Airways reports lower profit, revenue
Republic Airways Holdings Inc. reported a smaller profit and less revenue in the third quarter due to the fallout of its recently resolved labor issues with pilots.
Republic Airways Holdings Inc. reported a smaller profit and less revenue in the third quarter due to the fallout of its recently resolved labor issues with pilots.
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. 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.
Restructuring efforts at Republic Airways Holdings spurred the regional airline operator to a fourth-quarter profit of $12.6 million, or 25 cents per share, the company announced Wednesday.
The airline has asked to use a bigger plane on the route and expand service between Washington and Columbus, Ohio.
Republic Airways Holdings Inc. expects to transfer 230 crew members to other cities as it cuts flights by its Frontier Airlines unit in Milwaukee, where it will eliminate as many as 180 jobs.
Frontier Airlines will cut 4.4 percent of its work force as it reduces flight operations in Denver and Milwaukee after Indianapolis-based parent Republic Airways Holdings Inc. said the carrier would be sold or spun off.
Returning its Frontier unit to profitability is seen as a daunting task, and some industry analysts have wondered aloud if the Denver subsidiary will end up in bankruptcy again or Republic will become an acquisition target.
Two years after regional carrier Republic Airways Holdings made a gutsy move into the branded airline business by buying Frontier Airlines and Midwest Airlines, its stock price is down nearly 60 percent.
Frontier Airlines pilots overwhelmingly approved concessions that will allow parent Republic Airways Holdings Inc. to pursue a $120 million restructuring at the unprofitable unit. Indianapolis-based Republic bought Frontier out of bankruptcy in 2009.
Republic Airways Holdings Inc. is counting on pilots approving concessions to kick-start a $120 million restructuring plan at its Frontier Airlines unit, 20 months after buying the carrier out of bankruptcy.
Republic Airways Holdings Inc. agreed to seek new investors for Frontier Airlines, shrinking its stake to become a minority owner, in exchange for concessions from pilots at the unprofitable carrier.
Indianapolis-based Republic Airways Holdings Inc. said it lost $22.4 million during the first quarter on higher fuel and maintenance costs.
Republic Airways Holdings Inc. said on Monday that it will shift eight regional jets from flying for its Frontier Airlines unit to fly them under contract for Delta Air Lines Inc. instead.
Indianapolis-based Republic Airways Holdings Inc. and its Frontier Airlines unit filed a trademark-infringement case against the operator of a website offering gift cards as consumer incentives.
The Indianapolis-based company said it plans to raise $88.5 million by pricing 12 million shares of its common stock at $7.80 each in a public offering.
Frontier Airlines may seek a marketing agreement with a major carrier as industry collaboration continues, said Bryan Bedford, chief executive of Indianapolis-based parent company Republic Airways Holdings Inc.
Dallas-based Southwest Airlines would bump Delta Air Lines from top carrier spot at Indianapolis International Airport when it acquires Orlando-based-based AirTran in a deal announced Monday. Southwest/AirTran would have about 33 percent of the Indianapolis market, airport officials said.
Federal regulators say Republic delayed filing financial reports for subsidiaries Chautauqua Airlines, Republic Airline and Shuttle America. it is the second proposed sanction levied against the Indianapolis-based carrier this year.
The 2009 acquisition of Frontier and Midwest airlines more than doubled second-quarter revenue for Indianapolis-based Republic
Airways Holdings Inc., the company said late Tuesday, but profit fell because of additional expenses.