The 40 Bombardier CS300 aircraft on order at Republic Airways Holdings Inc. are no longer a top priority as the Indianapolis-based company returns to its roots as a provider of regional flights for larger carriers, CEO Bryan Bedford said.
Republic’s CEO said he was pleased to see improved results despite “the most severe weather events in a single quarter” he’s seen in his 27-year career. The company’s shares surged more than 9 percent Thursday morning.
Pilots for Indianapolis-based Republic Airways overwhelmingly rejected a proposed 4-year contract that the company said would have put them at or near the top of wages for pilots at regional airlines.
The nation's regional airlines are having trouble hiring enough pilots, the government says, suggesting one reason may be that they simply don’t pay enough. The average starting salary for co-pilots at regional airlines is $22,400 a year.
Indianapolis-based Republic said full-year profit fell from $51.3 million in 2012 to $26.7 million in 2013 after a loss from discontinued operations of $21.6 million.
Republic Airways Holdings Inc. on Friday announced that it has reached a tentative agreement on a contract with the union that represents more than 2,200 of it pilots.
Indianapolis-based Republic Airways Holdings plans to stop flying 27 of its 41 Embraer 50-seat jets because of the pilot shortage. That decision will lower income as much as $22 million this year.
On-time statistics for such carriers as United, American and Delta don’t include tardy flights by their regional partners, such as Indianapolis-based Republic Airways.
Republic said selling Frontier for $36 million plus assumed debt will let it refocus on running feeder airlines for major carriers such as Delta and United.
Republic Airways Holdings Inc. on Wednesday said it was going forward with the $145 million sale of Frontier Airlines. It also announced a third-quarter loss of $13.8 million.
Frontier Airlines announced Wednesday that it is expanding operations at the New Castle Airport in Delaware with flights to Detroit and Atlanta.
Buyer Indigo Partners says it first needs agreements with the union for Frontier flight attendants, and with credit card issuer Barclays.
Phoenix-based Indigo Partners has until Monday to tell Frontier parent Indianapolis-based Republic Airways Holdings whether it wants to terminate the $145 million deal.
Indigo Partners LLC, led by veteran airline executive William Franke, has agreed to buy Frontier Airlines from Indianapolis-based Republic Airways Holdings Inc. for $36 million in cash. The total value of the transaction is $145 million including debt.
The Indianapolis-based regional carrier plans to tie up negotiations with a prospective buyer, believed to be headed by former Spirit Airlines Inc. Chairman Bill Franke.
Frontier Airlines, the Denver-based airline owned by Indianapolis-based Republic Airways Holdings, may soon become a legitimate down-market competitor.
Spirit Airlines Inc.’s largest investor, private-equity firm Indigo Partners LLC, is preparing to sell its stake in the discount carrier in what could be preparation to make a bid for Frontier Airlines, a Cowen & Co. analyst said Wednesday.
Indianapolis-based Republic Airways Holdings Inc. says it has entered into a nonbinding preliminary agreement with a third party that could buy its Frontier Airlines subsidiary.
The Indianapolis-based company on Thursday reported quarterly earnings of $24.6 million, a 23-percent increase over the previous year. The earnings beat consensus analyst predictions by 4 cents per share.
Angie’s List turned a profit for the first time in nearly two decades.
