Republic Airways Holdings Orders an Additional Twelve Embraer ERJ 145 Regional Jets
Monday May 19, 6:30 pm ET
INDIANAPOLIS--(BUSINESS WIRE)--May 19, 2003--Republic Airways Holdings Inc., the parent of Chautauqua Airlines and Republic Airlines announced today the order of an additional twelve Embraer ERJ 145LR aircraft. Delivery of the first four aircraft will begin in August, with delivery of the remaining eight, subject to Republic Airways Holdings finalizing financing to be completed by February 2004. Three of the aircraft will be placed into service with Chautauqua Airlines and nine aircraft will be placed into service with Republic Airlines. The order is valued at approximately $240 Million.
"The addition of twelve Embraer regional jets to the fleets of Republic Airways Holdings' subsidiaries will offer expanded opportunities with our partner US Airways," said Bryan Bedford Chairman, president and CEO of Republic Airways Holdings. "This order will allow us to further strengthen Republic Airways Holdings' position as an industry leader in delivering high quality, low cost regional jet lift to our major airline partners."
"Today's announcement reflects the continued strong market acceptance of Embraer's 50 seat regional jet. Our customers benefit from the excellent operating economics, reliability and unmatched flexibility, a combination that has led to the deserved popularity of the Embraer ERJ family. Republic Airways Holdings is a valued customer and through its subsidiaries is the third largest operator of Embraer aircraft worldwide," said Mauricio Botelho, President and CEO of Embraer.
Republic Airways Holdings, based in Indianapolis, Indiana is an airline holding company owned by investment funds organized and managed by Wexford Capital LLC, a Greenwich, Connecticut-based investment advisor. Republic currently owns two regional airline subsidiaries: Chautauqua Airlines, based in Indianapolis, Indiana and Republic Airlines, based in Louisville, Kentucky.
Chautauqua offers scheduled passenger service on approximately 430 flights daily to 56 cities in 26 states and Canada through code sharing agreements with three major U.S. airlines. The all-jet airline currently operates a fleet of 71 Embraer regional jets, including 47 ERJ-145s, 15 ERJ-140s and 9 ERJ-135's. All of its flights are operated under its major airline partner brand, such as AmericanConnection, Delta Connection or US Airways Express. The airline employs more than 1,600 aviation professionals.
Chautauqua Airlines is one of only two carriers worldwide that operate all three variants of the ERJ platform including the 135, 140 and 145. The ERJ 145 provides three-abreast, 31" pitch, leather seating designed to increase passenger comfort. Exceptionally designed interiors feature well-sized overhead bins and wardrobes, along with a roomy 71-cu.ft lavatory.
Republic Airlines is a new regional airline, which will operate up to 23 Embraer ERJ 145LR regional jets for US Airways under a fixed-fee code share agreement. Republic is anticipated to begin scheduled service in October, 2003.
More information on Republic Airways Holdings can be found at the company's website at www.rjet.com.
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Contact:
Republic Airways Holdings Inc.
Monday May 19, 6:30 pm ET
INDIANAPOLIS--(BUSINESS WIRE)--May 19, 2003--Republic Airways Holdings Inc., the parent of Chautauqua Airlines and Republic Airlines announced today the order of an additional twelve Embraer ERJ 145LR aircraft. Delivery of the first four aircraft will begin in August, with delivery of the remaining eight, subject to Republic Airways Holdings finalizing financing to be completed by February 2004. Three of the aircraft will be placed into service with Chautauqua Airlines and nine aircraft will be placed into service with Republic Airlines. The order is valued at approximately $240 Million.
"The addition of twelve Embraer regional jets to the fleets of Republic Airways Holdings' subsidiaries will offer expanded opportunities with our partner US Airways," said Bryan Bedford Chairman, president and CEO of Republic Airways Holdings. "This order will allow us to further strengthen Republic Airways Holdings' position as an industry leader in delivering high quality, low cost regional jet lift to our major airline partners."
"Today's announcement reflects the continued strong market acceptance of Embraer's 50 seat regional jet. Our customers benefit from the excellent operating economics, reliability and unmatched flexibility, a combination that has led to the deserved popularity of the Embraer ERJ family. Republic Airways Holdings is a valued customer and through its subsidiaries is the third largest operator of Embraer aircraft worldwide," said Mauricio Botelho, President and CEO of Embraer.
Republic Airways Holdings, based in Indianapolis, Indiana is an airline holding company owned by investment funds organized and managed by Wexford Capital LLC, a Greenwich, Connecticut-based investment advisor. Republic currently owns two regional airline subsidiaries: Chautauqua Airlines, based in Indianapolis, Indiana and Republic Airlines, based in Louisville, Kentucky.
Chautauqua offers scheduled passenger service on approximately 430 flights daily to 56 cities in 26 states and Canada through code sharing agreements with three major U.S. airlines. The all-jet airline currently operates a fleet of 71 Embraer regional jets, including 47 ERJ-145s, 15 ERJ-140s and 9 ERJ-135's. All of its flights are operated under its major airline partner brand, such as AmericanConnection, Delta Connection or US Airways Express. The airline employs more than 1,600 aviation professionals.
Chautauqua Airlines is one of only two carriers worldwide that operate all three variants of the ERJ platform including the 135, 140 and 145. The ERJ 145 provides three-abreast, 31" pitch, leather seating designed to increase passenger comfort. Exceptionally designed interiors feature well-sized overhead bins and wardrobes, along with a roomy 71-cu.ft lavatory.
Republic Airlines is a new regional airline, which will operate up to 23 Embraer ERJ 145LR regional jets for US Airways under a fixed-fee code share agreement. Republic is anticipated to begin scheduled service in October, 2003.
More information on Republic Airways Holdings can be found at the company's website at www.rjet.com.
--------------------------------------------------------------------------------
Contact:
Republic Airways Holdings Inc.
