inflightboi175
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Republic Airways Holdings (RAH), parent of Chautauqua Airlines, Frontier Airlines, Republic Airlines and Shuttle America posted a third-quarter net income of $25.8 million, a $16.8 million increase over the prior year quarter.
“We continue to see improved financial performance on our Frontier Airlines business segment, made possible through our restructuring efforts completed last year and the continued network and fleet optimization,” RAH chairman, president and CEO Bryan Bedford said. “We have been engaged in a similar restructuring effort with our Chautauqua Airlines subsidiary … Thus far, that effort has resulted in meaningful financial improvements.”
Group revenue fell 7.1% to $713.1 million while expenses dropped 11% to $639.6 million, producing an operating profit of $73.5 million, up from a $48.9 million operating profit in the prior-year quarter. Fuel costs for the quarter fell 28.8% year-over-year.
At the end of October the carrier announced the sale of five Embraer E-190s to US Airways, three of which have been delivered, and amended a capacity purchase agreement with Delta Air Lines to operate an additional seven E-145s for one year. It also finalized restructuring agreements with stakeholders on its 50-seat regional jet program; the agreements are expected to improve the operating cash flow of the company by approximately $45 million annually over the next five years.
“This is an important milestone in our Chautauqua restructuring effort,” Bedford said. “These agreements take us about three-quarters of the way to our stated need of $60 million in average annual cash flow improvements.”
Third-quarter consolidated traffic fell 8% to 7.56 billion RPMs on an 8.5% drop in capacity to 10.14 billion ASMs, producing a load factor of 74.5%, up 0.4 points. CASM fell 3.8% to 9.93 cents. CASM ex-fuel was 8.56 cents, up 5.3% year-over-year.
http://atwonline.com/airline-financ...t-income-continues-restructure-chautauqua-110
“We continue to see improved financial performance on our Frontier Airlines business segment, made possible through our restructuring efforts completed last year and the continued network and fleet optimization,” RAH chairman, president and CEO Bryan Bedford said. “We have been engaged in a similar restructuring effort with our Chautauqua Airlines subsidiary … Thus far, that effort has resulted in meaningful financial improvements.”
Group revenue fell 7.1% to $713.1 million while expenses dropped 11% to $639.6 million, producing an operating profit of $73.5 million, up from a $48.9 million operating profit in the prior-year quarter. Fuel costs for the quarter fell 28.8% year-over-year.
At the end of October the carrier announced the sale of five Embraer E-190s to US Airways, three of which have been delivered, and amended a capacity purchase agreement with Delta Air Lines to operate an additional seven E-145s for one year. It also finalized restructuring agreements with stakeholders on its 50-seat regional jet program; the agreements are expected to improve the operating cash flow of the company by approximately $45 million annually over the next five years.
“This is an important milestone in our Chautauqua restructuring effort,” Bedford said. “These agreements take us about three-quarters of the way to our stated need of $60 million in average annual cash flow improvements.”
Third-quarter consolidated traffic fell 8% to 7.56 billion RPMs on an 8.5% drop in capacity to 10.14 billion ASMs, producing a load factor of 74.5%, up 0.4 points. CASM fell 3.8% to 9.93 cents. CASM ex-fuel was 8.56 cents, up 5.3% year-over-year.
http://atwonline.com/airline-financ...t-income-continues-restructure-chautauqua-110
