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Republic Airways reports 2Q2010 financial highlights

4-Aug-2010 2:30 PM

Republic Airways revenue up 114% - consolidated financial highlights:

  • Three months ended 30-Jun-2010:
    • Revenue: USD683.3 million, +113.6% year-on-year;
      • Branded*: USD418.4 million, n/a;
    • Operating costs: USD639.7 million, +140.2%;
      • Fuel: USD160.5 million, +461.3%;
      • Labour: USD140.9 million, +113.4%;
      • Landing fees and airport rents: USD44.2 million, +138.8%;
    • Operating profit: USD43.6 million, -18.8%;
    • Net profit: USD2.6 million, -81.5%;
    • Passenger numbers:
      • Fixed-fee: 4.6 million, -10.7%;
      • Branded: 3.9 million, n/a;
    • Load factor:
      • Fixed-fee: 78.5%, +1.7 ppt;
      • Branded: 85.9%, n/a;
  • Six months ended 30-Jun-2010:
    • Revenue: USD1,292 million, +100.2%;
      • Branded*: USD770.8 million, n/a;
    • Operating costs: USD1,268 million, +132.0%;
      • Fuel: USD304.6 million, +401.8%;
      • Labour: USD279.9 million, +114.4%;
      • Landing fees and airport rents: USD83.2 million, +135.1%;
    • Operating profit: USD23.5 million, -76.1%;
    • Net profit (loss): (USD33.8 million), compared with a profit of USD16.3 million in p-c-p;
    • Cash: USD416.9 million, +19.0% when compared with period ended 31-Dec-2009;
    • Debt: USD2,720 million, -2.5% when compared with period ended 31-Dec-2009;
    • Passenger numbers:
      • Fixed-fee: 8.4 million, -12.2%;
      • Branded: 7.1 million, n/a;
    • Load factor:
      • Fixed-fee: 75.0%, +2.6 ppts;
      • Branded: 80.9%, n/a. [more]

*Includes Frontier Airlines, Lynx Airlines, and Midwest Airlines

Republic Airways: “Total revenues on Frontier were USD418.4 million for the quarter. Load factor was 85.9% for the quarter and total revenue per ASM (TRASM) was USD 10.76 cents. Frontier posted a loss before taxes of USD14.2 million for the second quarter. However, excluding the items outlined in the table above, Frontier produced a pre-tax profit of USD2.9 million for the second quarter. Cost per ASM (CASM), excluding fuel, was USD 7.23 cents for the second quarter of 2010. Excluding integration costs, aircraft return expenses and the adjustment for the Midwest lease obligations, the unit cost for Frontier, excluding fuel, was USD 6.89 cents for the quarter,” Company statement. Source: Republic Airways, 03-Aug-2010.