INDIANAPOLIS--(BUSINESS WIRE)--May 4, 2015--
Republic Airways Holdings Inc. (the "Company") (NASDAQ/NM: RJET) today
announced preliminary first quarter 2015 results.
In our ongoing effort to develop trust and collaboration with the new
pilot leadership team of IBT Local 357, we have been providing periodic
Company updates on our operational and financial performance. All
members of the Local 357 Executive Board, Negotiating Committee and
their third-party professionals have signed standard Non-Disclosure
Agreements before receiving any non-public information.
On Friday, May 1, 2015, during their normal weekly bargaining update,
the Negotiating Committee inadvertently disclosed material, non-public
information to our pilots. We believe the disclosure was unintentional,
and the Local has been cooperative in advising our pilots not to share
such information or trade in our securities. Nevertheless, we have
chosen to release selected operational and financial information ahead
of our scheduled earnings release and update call on Friday, May 8.
Preliminary First Quarter 2015 Results
The Company expects to report first quarter net income of $6.4 million
or $0.13 per diluted share, pretax income of $11.2 million and pretax
margins of 3.3 percent on operating revenues of $341 million. The first
quarter results were negatively impacted, by among other factors,
reduced operational reliability, fleet transition expenses related to
the removal of Q400 and E190 aircraft from the operating fleet and
employee severance costs incurred during the quarter.
Updated 2015 Guidance
The Company intends to update its second quarter and full year 2015
financial and operational guidance during its first quarter earnings
Earnings Conference Call Details
The Company will hold a conference call to discuss its first quarter
financial results at 10 a.m. (EDT) Friday, May 8, 2015.
The call will be webcast by Thomson/Reuters and can be accessed at its
To participate by telephone, dial (877) 703-6105 (international callers
dial (857) 244-7304); the password is 31498138. To listen to a telephone
replay of the call, dial (888) 286-8010 and use password 10594137.
International telephone replay will be available by dialing (617)
801-6888 and using password 10594137. The replay will be available from
2 p.m. (EDT)May 8 until 11:59 p.m. (EDT)May 15.
Individual and institutional investors can access the call via Thomson
a password-protected event management site.
Republic Airways Holdings Inc., based in Indianapolis, Indiana, is an
airline holding company that owns Republic Airlines, Shuttle America and
Chautauqua Airlines, collectively called “the airlines.” The airlines
operate a combined fleet of about 240 aircraft and offer scheduled
passenger service with more than 1,250 flights daily to approximately
100 cities in the U.S., Canada and the Caribbean through fixed-fee
flights operated under our major airline partner brands of American
Eagle, Delta Connection, United Express and US Airways Express. The
airlines currently employ about 6,500 aviation professionals. For more
about Republic Airways, please visit our website at www.rjet.com.
Forward Looking Information
Statements regarding the Company’s operational and financial success,
business model, expectations about future success, competitive
environment, operational performance and our ability to maintain or
improve our costs are forward-looking statements and are not historical
facts. Instead, they are estimates or projections involving numerous
risks or uncertainties, including but not limited to, consumer demand
and acceptance of services offered by the Company, the Company’s ability
to maintain current cost levels, regulatory matters and general economic
conditions. Additional information concerning factors that could cause
actual results to differ materially from those in the forward-looking
statements is contained from time to time in the Company’s SEC filings,
including but not limited to the Company’s annual report on Form 10-K
for the year ended Dec. 31, 2014, or as supplemented in the Company’s
subsequently filed periodic reports. The Company disclaims any
obligation or duty to update or correct any of its forward-looking
Source: Republic Airways Holdings Inc.
Republic Airways Holdings
Bob Birge, Cell: 317-590-3999
Republic Airways Holdings
Thien, Cell: 317-513-2445
Corporate Communications Manager
Purdue Road, Suite 300
Indianapolis, IN 46268