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.
Republic Airways Holdings Inc., struggling with a pilot shortage as it works to reach a new contract, said the company may have to seek bankruptcy protection if its latest labor proposal fails.
The company announced Thursday that flights between Indianapolis International Airport and Nashville International Airport will start Sept. 8 and run four days a week.
Republic Airways Holdings Inc.'s chief financial officer is leaving the company to pursue other interests, the Indianapolis-based company announced Wednesday.
The $3.85 million project would allow the regional carrier to train as many as 5,000 employees per year.
Republic Airways Holdings Inc. stock dove Monday morning after the Indianapolis-based company slashed its profit outlook and warned of more flight interruptions from an ongoing labor dispute with pilots.
The Teamsters sued Republic, Shuttle America and parent Republic Airways Holdings Inc. last week in federal district court in Indianapolis. The union, which has been negotiating for a new contract since 2007, said the extra pay undercuts its bargaining position.
A letter received by major U.S. carriers demands copies of all communications the airlines had with each other, Wall Street analysts and major shareholders about their plans for passenger-carrying capacity, or "the undesirability of your company or any other airline increasing capacity."
OneJet, the company that offers commercial flights aboard corporate-size jets, announced Monday that it will offer nonstop service from Indianapolis to Memphis, starting June 22.
Republic CEO Bryan Bedford told investors that crew-related flight cancellations rose throughout the first quarter and continued at a high level in April and May. The labor shortage will reduce revenue by an estimated $15 million this year, the company said.
The Dallas-based carrier continues to bulk up its Indianapolis presence. It debuted nonstop service to Dallas in April, and will start service to Boston and Los Angeles next month.
Startup OneJet flies six-passenger Hawker 400s between medium-size cities like Indianapolis, Milwaukee and Pittsburgh.
OneJet, which debuted flights to Milwaukee in April, said it will begin flying to Pittsburgh next month. No other carriers offer nonstop service to those destinations.
A new company that allows travelers to book flights on corporate jets will debut commercial service with flights from Indianapolis next month.
Low-cost carrier Allegiant, which used to stick to the smallest, most underserved airports on the map, is branching out to medium-size cities like Indianapolis.
Allegiant Air said Tuesday morning that it will begin offering nonstop flights from Indianapolis International Airport to Fort Lauderdale, Florida, beginning April 8. The announcement is the latest from Allegiant in recent months regarding flights from Indianapolis.
Outside contractors may take over the positions at 28 airports, including those serving Indianapolis, Atlanta and St. Louis, a United spokesman said.
