Tue, May 02, 2017
Restructured Airline Will Be A Privately Held Company
Republic Airways Holdings Inc., the parent of Republic Airline, the world’s largest E-Jet operator and the second-largest regional airline in the United States, announced today that it emerged from its Chapter 11 restructuring effective April 30, 2017. Republic will be closely held by certain unsecured creditors as outlined in its court-approved plan of reorganization.
Republic is emerging as an operational leader in the regional airline industry, focused on delivering exceptional service to its mainline customers.
“Today starts a new chapter for Republic,” said Bryan Bedford, Republic’s president and chief executive officer. “We entered this restructuring process with specific objectives: To restructure Republic into an airline that produces consistent and outstanding operational reliability; to simplify our business model in order to drive financial and operational efficiencies; and to ensure Republic remained an employer of choice for its current and future aviation professionals. I am pleased that we accomplished all of our restructuring goals timely. Our future success will be determined by how well Republic continues to deliver these competencies.”
The U.S. Bankruptcy Court of the Southern District of New York approved Republic’s Plan of Reorganization on April 20, clearing the way for Republic to emerge. As of March 31, Republic operated a fleet of 170 E170/E175 dual-class aircraft and expects to expand its fleet by more than 10 percent during the remainder of 2017 with the delivery of 18 additional E-Jet aircraft.
“We have streamlined the airline around a single fleet of E-Jets and a single operating certificate. These operational simplifications, along with restructured commercial agreements with each of our core business partners, has positioned Republic to deliver on its mission,” Bedford continued. “While the reorganization was successful due to the support of our mainline customers, aircraft financiers and our strategic suppliers, it would not have been possible without the daily contributions of our associates on the ground and in the air. Our professionals have worked tirelessly to restore our operations. Their hard work has enabled Republic to return to a position of leadership in the regional airline industry, and they are responsible for flying millions of passengers safely, comfortably and reliably across North America and beyond. It is through their unwavering leadership and effort that we’ve been successful to date, and they are why we will continue to lead in this demanding
business. They are extraordinary colleagues who do extraordinary things every day, and I’m proud to be a part of their team.”
(Source: Republic Airways Holdings news release)
More News
The Industry Continues to be Rocked By Some Questionable Operations Recent investigations and a great deal of data has resulted in ANN’s SportPlane Resource Guide’s rep>[...]
Make Sure You NEVER Miss A New Story From Aero-News Network Do you ever feel like you never see posts from a certain person or page on Facebook or Instagram? Here’s how you c>[...]
Visual Approach Slope Indicator (VASI) An airport lighting facility providing vertical visual approach slope guidance to aircraft during approach to landing by radiating a directio>[...]
Airport Marking Aids Markings used on runway and taxiway surfaces to identify a specific runway, a runway threshold, a centerline, a hold line, etc. A runway should be marked in ac>[...]
Aero Linx: The Skyhawk Association The Skyhawk Association is a non-profit organization founded by former Skyhawk Pilots which is open to anyone with an affinity for the A-4 Skyhaw>[...]