Republic to Emerge from Bankruptcy in Early 2017 as Single Carrier

By Paul Riegler on 17 November 2016
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Republic Airways, a regional carrier, announced late Wednesday it filed a plan of reorganization that will allow it to emerge from bankruptcy in the first quarter of next year.

The airline sought Chapter 11 bankruptcy protection in February 2016.

The plan was filed with the U.S. Bankruptcy Court for the Southern District of New York with the full support of its creditors committee.

Once the plan is approved, the airline will operate as a single carrier under the name Republic Airline and will be the world’s largest operator of Embraer E170/E175 aircraft, it said. Currently the company operates two carriers, Republic Airlines and Shuttle America.

Under Chapter 11, the company was able to renegotiate and extend its agreements with American Airlines, Delta Air Lines, and United Air Lines, removal “out-of-favor” aircraft from its fleet, and restructure its debt.

“We have achieved each of the restructuring goals set at the onset of this case, while restoring our airline to a level of operational excellence unmatched in our industry,” said the airline’s CEO, Bryan Bedford.

(Photo: Accura Media Group)

Accura News

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