Posted on: 07 August 2014 by Mark Howells
Republic Airways Holdings (Republic) has seen a 23.3% increase in net income during its second financial quarter over the previous year, making $33.3 million. This means in comparison to 1H13, the airline has seen a 21.2% increase in net income for the first six months of 2014.
Republic’s fixed-fee service revenue saw growth due to more Q400 aircraft flying with United Airlines and American Airlines taking on more E175 aircraft. Meanwhile, passenger service revenue fell because of the removal of E190 aircraft operating under a pro-rate agreement with Frontier Airlines.
As of 30 June the airline had a fleet of 237 smaller aeroplanes consisting of 45 aircraft seating between 44-50 passengers and 192 aircraft seating from 69 to 99. The airline expects to take delivery of 13 more E175s before the end of 2014.
“I am pleased we were able to report improved second quarter financial results, as we remain focused on executing on our strategic plan to simplify and streamline our business,” said Republic’s CFO Timothy Dooley.