inflightboi175
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http://atwonline.com/airline-financ...ys-holdings-reports-20-million-2q-profit-0801
Republic Airways Holdings Inc. (RAH) reported second-quarter net income of $20 million compared to a $14.9 million loss in the year-ago period for business segments Republic Airlines (RW) and Frontier Airlines (F9). The airline said the results were due to F9’s strong performance.
“Frontier produced solid year-over-year unit revenue growth and demonstrates the significant value that is being created in our Frontier segment through the network changes and restructuring efforts we accomplished in 2011,” RAH chairman and CEO Bryan Bedford said.
Revenue fell 1.6% to $728.1 million while expenses lowered 8.9% to $662.9 million, producing an operating profit of $65.2 million, up from a $12.2 million operating profit in the prior-year quarter.
Traffic for RW decreased 11% to 2.57 billion RPMs on an 11.3% drop in capacity to 3.35 billion ASMs, producing a load factor of 76.7%, up 0.2 points. CASM decreased 3.8% to 10.10 cents. CASM ex-fuel was 8.48 cents, up 3.8%.
Traffic for F9 was up 4.7% to 2.74 billion RPMS on a 2.7% rise in capacity to 3.04 billion ASMs, producing a load factor of 90.1%, up 1.7 points. RASM rose 8.3% to 12.18 cents. CASM dropped 5% to 11.68 cents. CASM ex-fuel was down 5.7% to 7.18 cents.
“Despite the significant progress achieved thus far to improve our consolidated business results, we still consumed $39 million of cash in the first six months of 2012; this is unsustainable over the long term,” said Bedford. “We must continue the ongoing effort to restructure our small regional jet operations so that we can return our company to sustainable long-term health and competitiveness.”
The RAH holding company owns Chautauqua Airlines, F9, RW and Shuttle America, flying a combined fleet of 278 aircraft. The company announced in May its RW subsidiary reached a tentative agreement to operate 32 Bombardier Q400 aircraft under the United Express brand
Republic Airways Holdings Inc. (RAH) reported second-quarter net income of $20 million compared to a $14.9 million loss in the year-ago period for business segments Republic Airlines (RW) and Frontier Airlines (F9). The airline said the results were due to F9’s strong performance.
“Frontier produced solid year-over-year unit revenue growth and demonstrates the significant value that is being created in our Frontier segment through the network changes and restructuring efforts we accomplished in 2011,” RAH chairman and CEO Bryan Bedford said.
Revenue fell 1.6% to $728.1 million while expenses lowered 8.9% to $662.9 million, producing an operating profit of $65.2 million, up from a $12.2 million operating profit in the prior-year quarter.
Traffic for RW decreased 11% to 2.57 billion RPMs on an 11.3% drop in capacity to 3.35 billion ASMs, producing a load factor of 76.7%, up 0.2 points. CASM decreased 3.8% to 10.10 cents. CASM ex-fuel was 8.48 cents, up 3.8%.
Traffic for F9 was up 4.7% to 2.74 billion RPMS on a 2.7% rise in capacity to 3.04 billion ASMs, producing a load factor of 90.1%, up 1.7 points. RASM rose 8.3% to 12.18 cents. CASM dropped 5% to 11.68 cents. CASM ex-fuel was down 5.7% to 7.18 cents.
“Despite the significant progress achieved thus far to improve our consolidated business results, we still consumed $39 million of cash in the first six months of 2012; this is unsustainable over the long term,” said Bedford. “We must continue the ongoing effort to restructure our small regional jet operations so that we can return our company to sustainable long-term health and competitiveness.”
The RAH holding company owns Chautauqua Airlines, F9, RW and Shuttle America, flying a combined fleet of 278 aircraft. The company announced in May its RW subsidiary reached a tentative agreement to operate 32 Bombardier Q400 aircraft under the United Express brand
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