Republic profit nearly doubles revenues on Midwest, Frontier acquisitions

Thanks to an 87% increase in fourth quarter operating revenues, Republic Airways Holdings posted USD20.1 million in net income in the quarter, slightly higher than the year-ago period when net income was USD19 million. The company doubled operating revenues from USD339.3 million to USD637.3 million, clearly boosted by its acquisitions of both Midwest and Frontier airlines last year. However, excluding special items, income before taxes was USD1.5 million and net income was USD0.9 million, or USD0.03 per diluted share for the quarter.