Republic Becomes 50% Shareholder Of Mokulele Air

[inflightboi175]

HONOLULU -- Republic Airways is becoming a 50 percent shareholder of the Hawaii-based Mokulele Airlines in a recapitalization deal that will install new management at the interisland carrier.Thursday's announcement said Indianapolis-based Republic will convert a significant portion of its $8 million loan to Mokulele and invest additional equity.Mokulele founder Bill Boyer, who has served as president and chief executive officer, said he was pleased the airline was able to recapitalize. Republic Airways Vice President for Strategic Alliances Scott Durgin will serve as Mokulele's interim president and CEO, with Boyer concentrates on sales and marketing efforts.Just last month, Mokulele managed to make a loan payment, staving off seizure of its assets and operations by Republic Airways Holdings Inc

 

[samballs]

Sounds like this deal will not work out for either

 

[Raoul Duke]

Sounds like Boyer was given the boot

 

[trainer8]

Sounds like this deal will not work out for either

Sounds like your wrong. RAH plans to grow Mokulele in the coming years.

T8

 

[T/SF34/A]

A pay scale for nine seat CA is already being negotiated.

 

[BcPilot99]

So, can they flow up to the mainline caravan?

 

[Raoul Duke]

I heard the 170 flights have been running 30%LF. Is that a demonstration of Boyer's marketing prowess or a demonstration of the lack of his CEO abilities? Any word on RAH sending over the 4th AC?

 

[trainer8]

I heard the 170 flights have been running 30%LF. Is that a demonstration of Boyer's marketing prowess or a demonstration of the lack of his CEO abilities? Any word on RAH sending over the 4th AC?

Three Caravans are going back to their lessors when the code share obligations to Mesa end next month. Possibly up to 7-8 E170s in the coming years. New marketing plans being prepared within the islands and with mainland vendors. The plan is to grow the airline.

T8