Full-Time
No salary listed
Columbus, OH, USA
In Person
| , |
Company Size
1,001-5,000
Company Stage
N/A
Total Funding
N/A
Headquarters
Indianapolis, Indiana
Founded
1974
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Republic Airways Holdings reported a fourth-quarter profit of $5 million, or 12 cents per share. Adjusted earnings came to 54 cents per share, excluding merger-related costs and pretax expenses. The Phoenix-based regional airline posted quarterly revenue of $464.1 million. For the full year, Republic Airways reported profit of $76.2 million, or $1.87 per share, on revenue of $1.68 billion. The company expects full-year revenue of $2 billion.
American Airlines has acquired a 20.8% stake in Republic Airways Holdings, representing approximately 9.7 million shares, according to a Securities and Exchange Commission filing. The investment was secured through an agreement connected to Republic's merger with Mesa Airlines, which completed in November. American now holds the largest stake in Republic among the Big Three carriers, surpassing United's 7.7 million shares and Delta's 6.7 million shares. The carrier has agreed not to sell any Republic stock for at least 180 days after the merger's closing date. The combined Republic-Mesa entity operates the world's largest Embraer fleet with nearly 300 E170 and E175 aircraft and over 1,300 daily departures. The carriers will maintain parallel operations until consolidation under a single operating certificate.
Matt Koscal in line to become CEO of Republic Airways in 2026. Regional airline company Repubic Airways Holdings has revealed more details of its leadership transition plan amid ongoing efforts to integrate Mesa Air Group. In a 15 December filing with the US Securities and Exchange Commission, Republic outlines tentative plans for president and chief commercial officer Matt Koscal to eventually step into the airline's chief executive position. Indiana-based Republic operates on behalf of American Airlines, Delta Air Lines and United Airlines That role is currently occupied by David Grizzle, who previously served as non-executive chairman of Republic's board of directors. Grizzle became CEO of Republic following the departure of longtime CEO Bryan Bedford, who left the company in July to become administrator of the Federal Aviation Administration. Grizzle is expected to continue working as Republic's CEO during the integration period with Mesa Air Group, while Koscal will become CEO sometime next year. Grizzle would then return to his previous role as the non-executive chairman of Republic's board. "Any final succession plan will be determined at a future undetermined date, in the sole discretion of the board of directors and publicly announced as legally required," Republic says in the filing. Republic and Mesa completed their combination on 25 November, creating the second-largest regional airline in the USA to SkyWest Airlines. The airline will operate more than 300 Embraer regional jets. Last week, it was revealed that both Delta Air Lines and United Airlines have taken minority stakes in the post-combination company.
Mesa Air Group announced an amendment to its loan agreement with Jefferies Capital Services, extending the maturity date to November 28, 2025, with a possible 30-day extension. The interest rate is reduced to 0% for 90 days, and certain restrictions are waived. If obligations are paid by the maturity date, the principal will be reduced by $12.3 million. Mesa also pledged cash and an aircraft engine as collateral. Additionally, Mesa is merging with Republic Airways in an all-stock transaction.
Bryan Bedford retires as Republic Airways CEO.