Republic Airways last month offered another 7.75 million shares of common stock to help fund a fleet expansion that will see it field 28 Embraer 170s for US Airways and another five for United Airlines. Republic Airways operating unit Republic Airlines, formed last year to fly the 70-seat jets for United, to earn its operating certificate imminently. In the meantime, Republic Airways subsidiaries Chautauqua Airlines and Shuttle America fly 23 Embraer 170s as United Express. Republic also holds orders for sixteen 170s slated to enter the Delta Connection network. The company plans to move all of Chautauqua’s 170s to the other subsidiaries because, as an American Connection carrier, Chautauqua may not fly airplanes with more than 50 seats (see story above). Republic now pays penalties to American’s pilot union for violating the scope clause in its labor contract.
Republic Stockpiling Embraer 170s
- October 5, 2006, 7:11 AM