Republic Airways Holdings aiming to complete Frontier sale and secure labour agreements
Republic Airways Holdings stated (15-May-2013) its two remaining objectives for 2013 are to complete the sale of Frontier Airlines and secure new labour agreements for Republic Airlines. The National Mediation Board has determined that there will be no further meetings on the labour issue until at least 4Q2013.
Republic Airways Holdings provided an update on the sale of Frontier Airlines:
- Final term sheets are being negotiated with interested parties;
- Sale expected to close in early 3Q2013.
The company also reported the following fleet highlights:
- All idled aircraft returned to service by year-end 2012;
- Bombardier Q400: 32 on order, 17 to enter service in 2013;
- Embraer E175: 47 on order, 15 to enter service in 2013. Option for a further 47 aircraft from 2015;
- USD24.9 million improvement in pre-tax income as a result of fewer aircraft operating under pro-rate agreements at Frontier. [more - original PR]