Republic Airways exits from chapter 11 on 30-Apr-2017
Republic Airways Holdings emerged (01-May-2017) from its chapter 11 restructuring, effective 30-Apr-2017. The carrier will be closely held by certain unsecured creditors as outlined in its court-approved plan of reorganisation. As previously reported by CAPA, the US bankruptcy court approved Republic's plan of reorganisation on 20-Apr-2017. President and CEO Bryan Bedford stated: "We entered this restructuring process with specific objectives: To restructure Republic into an airline that produces consistent and outstanding operational reliability; to simplify our business model in order to drive financial and operational efficiencies; and to ensure Republic remained an employer of choice for its current and future aviation professionals. Our future success will be determined by how well Republic continues to deliver these competencies". [more - original PR]