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Republic Airways Holdings Announces Filing of Registration Statement for Proposed Offering of 7,000,000 Shares of Common Stock

INDIANAPOLIS--(BUSINESS WIRE)--July 1, 2005--Republic Airways Holdings Inc. (NASDAQ:RJET), announced today that it has filed a registration statement with the Securities and Exchange Commission for a proposed underwritten public offering of 7.0 million shares, all of which are being sold by the company. In addition, the company granted to the underwriters an option to purchase 1,050,000 shares to cover over-allotments.

Proceeds from the sale of shares by the company in the offering and available cash on hand will be used for the purchase of commuter slots and the purchase of ERJ-170 aircraft and other related assets from US Airways Group, as well as other potential aircraft and asset acquisitions.

When available, a written prospectus relating to the offering will be available from Merrill Lynch & Co., 4 World Financial Center, New York, New York.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State.

Additional Information

In addition to historical information, this release contains forward-looking statements. Republic Airways may, from time-to-time, make written or oral forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements encompass Republic Airways' beliefs, expectations, hopes or intentions regarding future events. Words such as "expects," "intends," "believes," "anticipates," "should," "likely" and similar expressions identify forward-looking statements. All forward-looking statements included in this release are made as of the date hereof and are based on information available to Republic Airways as of such date. Republic Airways assumes no obligation to update any forward-looking statement. Actual results may vary, and may vary materially, from those anticipated, estimated, projected or expected for a number of reasons, including, among others, the risks discussed in our Form 10-K and our other filings made with the Securities and Exchange Commission, which discussions are incorporated into this release by reference.

CONTACT: Republic Airways Holdings
Warren R. Wilkinson, 317-710-4323

SOURCE: Republic Airways Holdings Inc.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Republic Airways Holdings's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see the summary of risk factors contained in our earnings release.