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Republic Airways holdings revenue up 87.1%, losses widen

5-May-2010 2:59 PM

Republic Airways holdings revenue up 87.1% - consolidate financial highlights for the three months ended 31-Mar-2010:

  • Total operating revenue: USD608.7 million, +87.1% year-on-year;
  • Total operating costs: USD628.7 million, +124.1%;
    • Fuel: USD144.1 million, +348.8%;
    • Labour: USD139.1 million, +115.3%;
  • Operating profit (loss): (USD20.0 million), compared to a profit of USD44.8 million in the previous corresponding period;
  • Net profit (loss): (USD36.5 million), compared to a profit of USD2.2 million in the previous corresponding period;
  • Passenger numbers:
    • Fixed fee: 3.8 million, -13.9%;
    • Branded: 3.2 million;
  • Passenger load factor:
    • Fixed fee: 71.4%, +3.5 ppts;
    • Branded: 75.7%;
  • Total revenue per ASM:
    • Branded: USD 9.53 cents;
  • Passenger revenue per ASM:
    • Branded: USD 9.10 cents;
  • Cost per ASM*:
    • Fixed fee: USD 8.60 cents, -1.8%;
    • Branded: USD 11.13 cents;
  • Cost per ASM excl fuel:
    • Fixed fee: USD 8.07 cents, +3.5%;
    • Branded: USD 7.63 cents.

*Costs exclude impairments of USD13.3 million in 2009 on the fixed-fee segment and USD11.5 million in 2010 on the branded segment. Also excludes other expenses not attributable to either fixed-fee or branded segments

Republic Airways: “Total revenues on our branded airlines were USD352.3 million for the quarter. Load factor was 75.7% for the quarter and total revenue per ASM (TRASM) was USD 9.53 cents. The branded operations posted a loss before taxes of USD70.5 million for the first quarter. The branded business incurred non-recurring items totalling USD22.6 million and was also negatively impacted by approximately USD5.5 million due to the severe winter storms. Cost per ASM (CASM), including interest expense but excluding fuel and impairment charges, was USD 7.63 cents for the first quarter of 2010,” Company statement. Source: Republic Airways, 04-May-2010.