The Indianapolis-based airline company, which filed for Chapter 11 bankruptcy protection in February, filed its plan of reorganization this week.
Two hedge funds that own a quarter of the stock argue the Indianapolis-based carrier, which flies commuter routes on contract for the nation’s biggest airlines, really wasn’t insolvent when the company filed for bankruptcy—a move that gave it the leverage to negotiate much more favorable pacts with Delta, United and American. And with those deals now sealed, the outlook is even brighter.
Indianapolis-based Republic Airways Holdings Inc. has reached an agreement to continue providing regional flights for American Airlines—a step Republic says “clears the pathway for a successful emergence” from its Chapter 11 bankruptcy case.
A University of North Dakota study predicts that annual pilot deficits will escalate over the next decade and will total 15,000 by 2026.
If a bankruptcy judge approves the incentive plan, six senior executives of the commuter carrier would split as much as $4.7 million in bonuses over the next three quarters.
As it continues to work through its Chapter 11 bankruptcy reorganization, Indianapolis-based Republic Airways Holdings Inc. is seeking to get out of leases for 29 of its airplanes and two facilities.
The agreement is the second with a major air carrier that could help the Indy-based company emerge from bankruptcy.
Bombardier Inc. has removed from its production schedule an order for C Series aircraft placed six years ago by Indianapolis-based Republic Airways Holdings Inc., which is in bankruptcy. The price tag was $3 billion.
A bankruptcy judge in New York has approved a settlement that allows the Indianapolis-based airline contractor to set more favorable terms with Delta Air Lines, one of its biggest customers.
Indianapolis-based Republic Airways Holdings Inc.’s unsecured creditors are likely to recover less than 50 cents on the dollar in the airline’s bankruptcy, and stockholders should expect nothing at all, according to a letter from the company.
Delta Air Lines Inc. had accused Indianapolis-based Republic Airways Holdings Inc. of failing to operate a full schedule of flights for a Delta regional carrier.
Republic says the professional-services firms it has tapped should be paid well because they're helping the Indianapolis company work through a "unique set of circumstances" that has never been faced in an airline bankruptcy.
Republic Airways Holdings Inc. won permission to use the bankruptcy process to return what it says are some of its less attractive airplanes and engines.
Indianapolis-based Republic reached a watershed contract agreement with pilots last October, but it wasn’t enough to allow the carrier to regain its financial footing. Republic shares plummeted on news of the bankruptcy filing.
Frontier Airlines Inc.—a no-frills carrier that was sold off by Indianapolis-based Republic Airways Holdings Inc. two years ago is considering starting a formal IPO process as early as next year.
Amid the restructuring of flying contracts, Republic Airways executives clearly signaled that Chapter 11 (dubbed Plan B inside the company) remains an option if more lucrative deals with the Big Three airlines (Plan A) can’t be reached.
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.
Indianapolis-based Republic has been unable to fulfill an unspecified number of flights for Delta’s regional operation, Delta Connection, according to the suit filed Monday.