INDIANAPOLIS--(BUSINESS WIRE)--Jun. 17, 2016--
Republic Airways Holdings Inc. announced that the United States
Bankruptcy Court for the Southern District of New York issued its ruling
approving the Company’s comprehensive amendment to its agreement with
United Airlines. The amended agreement provides substantial and
interrelated operational and economic benefits, and provides for the
uninterrupted flying of all fifty-four (54) E170 and E175 aircraft
currently operated by Republic for United. The agreement also extends
the terms to all current E170s and, subject to certain conditions,
allows for further deliveries of E175s under revised new aircraft
delivery schedules. The Company anticipates the court’s approval will
become effective on June 23, 2016.
Zirinsky Law Partners PLLC and Hughes Hubbard & Reed LLP are serving as
Republic’s legal advisors in the restructuring. Seabury Securities LLC
is serving as Republic’s financial advisor. Sidley Austin LLP is serving
as United’s legal advisor.
About Republic Airways
Republic Airways Holdings Inc., based in Indianapolis, is an airline
holding company that owns Republic Airline and Shuttle America
Corporation, collectively called “the airlines.” The airlines offer
approximately 1,000 flights daily to 105 cities in 38 states, Canada,
the Caribbean, and the Bahamas through Republic’s fixed-fee codeshare
agreements under our major airline partner brands of American Eagle,
Delta Connection and United Express. The airlines currently employ about
5,800 aviation professionals. For more about Republic Airways, please
visit our website at www.rjet.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform
Act of 1995: Statements in this press release regarding Republic Airways
Holdings' 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.
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Source: Republic Airways Holdings Inc.
Republic Airways Holdings
Corporate Communications, 317-471-2470