Republic Airways Holdings operating profit down 17% in 3Q2013

Republic Airways Holdings revenue stable - financial highlights for three months ended 30-Sep-2013:

• Total operating revenue: USD338.6 million, +0.4% year-on-year;
• • Fixed fee: USD320.3 million, +19.2%;
  • Passenger service: USD12.6 million, -80.0%;
  • Charter and other: USD5.7 million, +1.8%;
• Total operating costs: USD305.8 million, +2.6%;
• • Labour: USD87.1 million, +10.3%;
  • Maintenance and repair: USD67.3 million, +1.1%;
• Operating profit: USD32.8 million, -16.8%;
• Net profit (loss): (USD13.8 million), compared to a profit of USD25.8 million in p-c-p;
• Republic operating highlights:
• Passenger numbers: 5.6 million, +5.5%;
• Passenger load factor: 77.5%, -1.1 ppt;
• Total cost per ASM: USD 9.60 cents, +1.2%;
• Cost per ASM excl fuel: USD 9.28 cents, +6.2%;
• Total assets: USD3621 million;
• Cash and cash equivalents: USD191.9 million;
• Total liabilities: USD3090 million. [more - original PR] [more - original PR - 10Q]

Republic Airways Holdings: "The sale of Frontier will allow our management team to re-focus on our core business. We continue to be excited about the growth opportunities for our fixed-fee business and are focused on providing safe, reliable and low-cost solutions to each of our airline partner brands, including American Eagle, Delta Connection, United Express and US Airways Express," Bryan Bedford, Chairman, President and CEO. Source: Company statement, 07-Nov-2013.