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.”
About Republic Airline
Republic Airline, based in Indianapolis, Ind., operates a fleet of about 170 Embraer 170/175 aircraft and offers scheduled passenger service with about 900 flights daily to 105 cities in 38 U.S. states, Canada, the Caribbean and Central America. The airline provides fixed-fee flights operated under our major airline partner brands of American Eagle, Delta Connection and United Express. The airline employs about 5,200 aviation professionals. Visit www.rjet.com for more information, follow the company on Instagram, Twitter and YouTube, and connect on Facebook or LinkedIn.