A plan that would cut benefits to most jobless people to help fix Indiana’s bankrupt unemployment insurance fund moved to the House – and a showdown with majority Democrats. The Senate passed a Republican plan yesterday that is designed to make the fund solvent. It was approved on a mostly party-line 30-20 vote in the […]
Indiana Senate Republicans have proposed a plan designed to fix the state’s bankrupt unemployment insurance fund by increasing employer taxes overall, reducing benefits for some jobless people and tightening eligibility requirements. “Our effort is to make changes in the system that are gradual but does put us on a definite path to solvency in our […]
Mokulele Airlines yesterday said it made a $300,000 loan payment, staving off seizure of its assets and operations by business partner Republic Airways Holdings Inc. Mokulele had defaulted on an $8 million loan, and Indianapolis-based Republic said it would come in and operate Mokulele if the Hawaii carrier failed to make the payment by the […]
Republic Airways Holdings Inc. yesterday reported lower revenue and profit for the fourth quarter of 2008, but the financial performance exceeded analysts’ expectations. The Indianapolis-based airline had revenue of $339.3 million for the quarter ended Dec. 31-3.6-percent less than the $351.8 million it reported for the same period of 2007. The company had profit of […]
The U.S. Department of Transportation has denied a request by Republic Airways Holdings to continue keeping financial data on two of its airlines confidential. It’s a practice the CEO of JetBlue Airways called “gaming” of DOT rules.
After enjoying a bump in passenger counts last year, Indianapolis-based Republic Airways posted a decline in January compared with the same period a year ago. The regional carrier said yesterday that it transported 1.3 million passengers last month, down 2.4 percent from the previous January. In 2008, Republic flew 18.9 million passengers, up 16 percent […]
After enjoying a bump in passenger counts last year, Indianapolis-based Republic Airways posted a decline in January compared with the same period a year ago. The regional carrier said yesterday that it transported 1.3 million passengers last month, down 2.4 percent from the previous January. In 2008, Republic flew 18.9 million passengers, up 16 percent […]
Airlines may be struggling nationally, but Indianapolis-based Republic Airways flew more passengers last year than in 2007.The regional carrier said Jan. 2 that it transported 18.9 million passengers in 2008, up 16 percent from the prior year.The airline holding company owns Chautauqua Airlines, Republic Airlines and Shuttle America – airlines that offer about 1,250 flights […]
Fourteen former employees of GMAC Mortgage Corp. have found jobs at First Republic Mortgage Corp., a mortgage banker headquartered on the northeast side near Fort Benjamin Harrison. The GMAC workers migrated to First Republic Mortgage after the mortgage arm of General Motors Corp. closed down in September. The additions bring total employment to 53. As […]
Millions of people around the globe were thrilled by Democrat Barack Obama’s election victory last night. This morning, they anticipated a bright new political era of hope and inclusion. But millions of others harbored deep concerns about the president-elect. P.E. MacAllister, chairman of locally based MacAllister Machinery, was among those who consider last night’s national […]
Shares in Republic Airways Holdings Inc. shot up nearly 9 percent this morning, to $14.54 each, after the Indianapolis-based regional carrier reported profit that beat analysts’ expectations. Republic said late yesterday that it earned $17 million in the third quarter, down 16 percent from a year earlier on higher expenses. Still, the 50-cents-per-share rise outpaced […]
Republic Airways Holdings Inc. earned $17 million in the third quarter, down 16 percent from a year earlier on higher expenses, the Indianapolis-based regional carrier reported late yesterday. The 50 cents per share beat the 47 cents expected by analysts surveyed by Thomson Financial. Republic had $7.4 million in additional expenses related to the return […]
Indianapolis-based passenger carrier Republic Airways Holdings Inc. said today it has agreed to loan US Airways Group Inc. as much as $35 million. Republic offered an initial, $10 million loan, on Oct. 20, and has made available an additional $25 million in the first quarter of 2009. Republic flies smaller jets for US Airways, headquartered […]
Republic Airways Holdings will operate a dozen 76-seat Embraer aircraft for Milwaukee-based Midwest Airlines, Midwest announced yesterday. Indianapolis-based Republic will operate the planes until Midwest can move the fleet under its own Federal Aviation Administration operating certificate. Midwest will have the option of leasing the Embraer 170 aircraft from Republic. Republic also said it is […]
Second-quarter net profit soared 49.3 percent for Republic Airways Inc., the Indianapolis-based carrier said late yesterday. Republic’s $28.4 million in profit was bolstered by a one-time gain of $6 million resulting from an interest-rate swap. Without the swap, Republic still turned a profit of $22.4 million, up nearly 18 percent from the same quarter last […]
By Norm Heikens Republic Airways Holdings, the Indianapolis-based parent of Chautauqua Airlines, Republic Airlines and Shuttle America, said yesterday it will accelerate its schedule to do away with a small, 37-seat jet used to carry passengers for Delta Air Lines. The 11 remaining Embraer E135 aircraft will be removed from service by Sept. 30 instead […]
It’s not just the beat-up airline industry that’s troubling locally based Republic Airways Holdings, it’s the aircraft itself. About half the regional jets flown by Republic for major airlines are of a type quickly falling into disfavor with the majors as they buckle under high fuel prices. About 118 of Republic’s 226 aircraft have fewer than 50 seats-too few passengers over which to spread the higher cost of jet fuel to make many of the routes they fly profitable. That’s…
Indianapolis-based Republic Airways Holdings Inc. generated $20.2 million in profit in the first quarter, a slight increase from the $19.3 million from a year earlier. Excluding a loss on an interest rate transaction and a reserve on accounts receivables from Frontier Airlines, which filed for Chapter 11 bankruptcy protection April 10, Republic profit came to […]
Shares of Republic Airways Holdings Inc. were down 10.7 percent this morning on news the locally based airline had severed ties with bankrupt Frontier Airlines. Shares were at $16.03 as of 11 a.m. Republic this morning said it would begin breaking away from Frontier due to the Denver-based airline’s recent decision to file for Chapter […]
Republic Airways Holdings today announced plans to repurchase as much as $100 million of its common stock, a move that helps lift earnings per share for the company at a time merger rumors are swirling around its big airline customers. Republic shares late this morning were trading at $19.90, up 2.5 percent on the day. […]
