Republic shares soar on U.S. Airways news


Well-known member
Feb 17, 2009

Shares of Indianapolis-based Republic Airways Holdings Inc. posted their biggest gains in nearly six months yesterday, closing at $6.12 each.

The regional airline operator’s stock jumped 25 percent on news that one of its biggest customers, US Airways Group Inc., said it’s not in danger of seeking bankruptcy, Bloomberg News said.

Airlines are working to return to profitability after posting losses last year on higher fuel bills and softening travel demand.

Last month, Republic reported lower revenue and profit for the fourth quarter of 2008, but nevertheless exceeded analysts’ expectations.