Republic Airways reaches long-term agreement with American Airlines
Republic Airways Holdings reached (02-Sep-2016) an amended agreement with American Airlines, securing a majority of its flying commitments as well as the size and scope of its ongoing Embraer fleet. Republic has filed a motion for its approval in the US bankruptcy court, marking a "major milestone in our journey towards a successful restructuring." The amended agreement provides for:
- A single capacity purchase agreement, which prescribes the flying commitments and obligations of Republic and American;
- The removal of certain aircraft. The carrier will also continue to operate for certain aircraft for American. This will facilitate Republic’s ability to restructure the remaining aircraft financing obligations, and allow it to potentially restore service of a number of aircraft;
- Republic’s transition to a single air carrier operating certificate by reconfiguring 80-seat aircraft to 76-seat configuration.