Frontier Airlines (2nd)-Republic Airlines (2nd) Embraer ERJ 170-100SE N872RW (msn 17000143) SFO (Mark Durbin), originally uploaded by Airliners Gallery.
Republic Airlines (2nd) (Indianapolis) will remove the last six Embraer ERJ 170s from the Frontier Airlines branded operation by September 30, 2011. Republic will now operate 14 ERJ 170s under the Delta Connection banner by October 1, 2011.
Copyright Photo: Mark Durbin. Please click on the photo for the full details.
Republic Airways (Republic Airlines 2nd) Embraer ERJ 170-100SU N821MD (msn 17000042) FLL (Bruce Drum), originally uploaded by Airliners Gallery.
Republic Airways Holdings Inc. (Indianapolis) reported operating revenues of $649.8 million for the quarter ended December 31, 2010, a 2.0% increase, compared to $637.3 million for the same period last year. The increase in revenues is the result of higher unit revenues from the Companyโs Frontier operations.
On a GAAP basis, the holding company reported a net loss of $1.3 million, or $0.03 per diluted share, for the fourth quarter ended December 31, 2010, compared to $20.1 million of net income, or $0.55 per diluted share, for the same period last year.
During the fourth quarter of 2010, the Companyโs pre-tax loss of $3.0 million was negatively impacted by a total of $15.1 million of items: $14.5 million of fleet transition costs for A318 and Q400 aircraft, $2.5 million of expenses related to the integration of the branded business, offset by $1.9 million in benefits for fuel hedges.
Excluding the negative impact of the items during the quarter, the Company is reporting net income of $7.4 million and earnings per diluted share of $0.18 for the fourth quarter of 2010. Comparatively, the Company reported ex-item net income for the fourth quarter of 2009 of $2.1 million, or $0.06 per diluted share.
For the full year 2010, the holding company reported revenues of $2.7 billion compared to $1.6 billion for 2009. On a GAAP basis, the Company reported a net loss for 2010 of $13.8 million, or $0.38 per diluted share compared to net income of $39.7 million, or $1.13 per diluted share for the full year 2009.
Frontier Airways Holdings joins AMR Corporation as the only two large airline groups to lose money in the United States in 2010.
The operational fleet decreased from September 30, 2010 by two aircraft to 275 aircraft as of December 31, 2010. During the quarter, the Company removed one Airbus A318 aircraft and one Q400 aircraft from the fleet.
The total operational fleet as of December 31, 2010 was 275 aircraft, a reduction of 15 aircraft, compared to the 290 aircraft operated as of December 31, 2009.
The Company removed eight Q400 aircraft from its Frontier operations. Five were returned to the lessor, two were classified as held for sale as of December 31, 2010, and one has been subleased. Seven CRJ200 aircraft were returned to the lessor from the fixed-fee service with Continental Airlines. Four A318 aircraft were removed from our Frontier operation and sold or returned to the lessor. Two ERJ 145 aircraft were subleased offshore and one ERJ 170 was sold. Four Embraer ERJ 190 aircraft and three Airbus A320 aircraft were placed into our Frontier operation during the year.
Copyright Photo: Bruce Drum. Please click on the photo for background information on the holding company and aircraft operated.
Republic Airways Holdings’ Fixed-Fee Route Map (not including Frontier Airlines branded operations):
Delta Connection-Shuttle America Embraer ERJ 170-100SE N863RW (msn 17000100) MIA (Bruce Drum), originally uploaded by Airliners Gallery.
Republic Airways Holdings (Indianapolis) will move eight Embraer ERJ 170s from the Frontier Airlines (2nd) operation and expand the Delta Connection capacity purchase agreement with these eight aircraft. Republic did not specify the operator.
Copyright Photo: Bruce Drum. Please click on the photo for the full details.
Republic Airways (Republic Airlines 2nd) Embraer ERJ 170-100SU N821MD (msn 17000042) FLL (Bruce Drum), originally uploaded by Airliners Gallery.
Republic Airways Holdings Inc. (Indianapolis) reported operating revenues of $711.9 million for the quarter ended September 30, 2010, a 97.9% increase, compared to $359.6 million for the same period last year. The increase in revenues is primarily due to the acquisition of Frontier Airlines (2nd) and Midwest Airlines during 2009. The Company also reported net income of $21.3 million, or $0.58 per diluted share, for the quarter ended September 30, 2010, compared to $3.3 million of net income, or $0.09 per diluted share, for the same period last year. The diluted share count for the third quarter of 2010 includes 2.5 million shares for the $25 million of convertible debt at the Company, which decreases earnings per share by $0.04.
During the third quarter of 2010, the Companyโs GAAP pre-tax income of $35.1 million was negatively impacted by a total of $7.8 million, or $0.14 per diluted share, of items: $4.7 million of expenses related to the integration of the branded business; $2.9 million of disposal costs for A318 and DHC-8-400 (Q400) aircraft; and $0.2 million in negative adjustments for fuel hedges.
Excluding the dilutive effect of the convertible debt ($0.04) and the negative impact on earnings of the integration expense items during the quarter ($0.14), the Company is reporting earnings per share of $0.76 for the third quarter of 2010.
The Companyโs โBrandedโ business segment includes all operations at Frontier Airlines (2nd), Lynx Airlines, and Midwest Airlines, collectively referred to as โFrontierโ. Total revenues on Frontier were $445.8 million for the quarter. Load factor was 87.4% for the quarter and total revenue per ASM (TRASM) was 11.15ยข. Frontier posted income before taxes of $11.6 million for the third quarter. However, excluding the items outlined in the table above, Frontier produced a pre-tax profit of $19.4 million for the third quarter. Operating cost per ASM (CASM), excluding fuel, was 7.17ยข for the third quarter of 2010. Excluding integration and aircraft return expenses, the unit cost for Frontier, excluding fuel, was 6.98ยข for the quarter.
During the quarter the Company removed three Airbus A318 aircraft, one Bombardier DHC-8-400 (Q400) aircraft, and one Embraer ERJ 170 aircraft from service. The total operational fleet was 277 aircraft as of September 30, 2010 compared to 282 aircraft as of June 30, 2010.
On July 1, 2010, the Company announced that it would remove four 120-seat A318 aircraft and one 76-seat E170 aircraft from scheduled service for Frontier in September 2010. Three of these aircraft have been sold to third parties and two were returned to their lessors. Beginning in January 2011, Frontier will accept the first of seven new 162-seat A320 aircraft. All seven aircraft have firm lease financing arranged and will be delivered during the first two quarters of 2011. The Company will also be leasing three additional 136-seat A319 aircraft that are scheduled for delivery between February and April 2011.
On July 21, 2010, the Company announced it had signed a non-binding letter of intent with Embraer to acquire 24 ERJ 190 or ERJ 195 aircraft with deliveries beginning in the mid 2011. On November 5, 2010, the Company announced it had placed a firm order for 6 E190 aircraft with Embraer for delivery in 2011 starting in August. The Company also has conditional firm orders for 18 E190 or E195 aircraft. Both aircraft types would be configured with STRETCH seating. These aircraft will be used to replace smaller regional jets in the Company as well as provide flexibility for growth at Frontier through 2013.
All ERJ 170 aircraft operating for Frontier will be reconfigured with STRETCH seating by November 30, 2010, enabling its guests to take advantage of 5 extra inches of legroom. Also, all 32 E-Jet aircraft operating for Frontier will have Gogo WiFi installed by the end of 2010.
Copyright Photo: Bruce Drum. Please click on the photo for additional information.
Midwest Airlines-Republic Airlines (2nd) Embraer ERJ 190-100 IGW N162HL (msn 19000231) SEA (Joe G. Walker), originally uploaded by Airliners Gallery.
Republic Airways Holdings Inc. (Indianapolis) announced yesterday (November 5) a firm order for six Embraer ERJ 190 jets and a conditional firm order for 18 Embraer 190 or 195 jets. The agreement concludes a Letter of Intent (LOI) announced earlier this year.
Republic plans to take delivery of the six firm orders between August and December 2011. The aircraft will be placed into service within the network of Frontier Airlines, and operated by Republic Airlines. Each aircraft will be WiFi-enabled and configured with STRETCH seating, which offers Frontier customers in the first four rows an additional five inches of legroom.
Republic Airways Holdings is an airline holding company that owns Chautauqua Airlines, Frontier Airlines (2nd), Lynx Aviation, Republic Airlines (2nd) and Shuttle America. The airlines offer scheduled passenger service on approximately 1,600 flights daily to 127 cities in 42 states, Canada, Costa Rica, and Mexico under branded operations at Frontier, and through fixed-fee airline services agreements with five major U.S. airlines. The fixed-fee flights are operated under an airline partner brand, such as AmericanConnection, Continental Express (now United Express), Delta Connection, United Express, and US Airways Express. The airlines currently employ approximately 11,000 aviation professionals and operate 276 aircraft.
Copyright Photo: Joe G. Walker. The Midwest branded aircraft are being repainted into Frontier colors. Please click on the photo for additional details.
Republic Airways Holdings’ (Indianapolis) CEO (Bryan Bedford) and Frontier Airlines (2nd) (Denver) will be the subject of the CBS TV show “Undercover Boss”, scheduled to be shown this Sunday (October 17) evening in the USA.
Read the article from Indystar.com
Frontier Airlines issued the following press release:
Bryan Bedford, Chairman, President and CEO of Frontier Airlines, a wholly owned subsidiary of Republic Airways Holdings, Inc. (NASDAQ:RJET –ย News), earned his wings after spending a week on the frontlines of his Company for the hit CBS show โUndercover Boss.โ The episode featuring Frontier Airlines is scheduled to air this Sunday, Oct. 17, at 9 p.m. ET/PT on CBS.
โParticipating in โUndercover Bossโ was an unforgettable experience that will forever shape they way I do my job,โ said Bedford. โExperiencing our front line as an everyday employee uncovered ways we can improve things for our employees and guests, but most importantly it showed me that our employees are so passionate about their jobs and committed to the ongoing success of our Company.โ
During his undercover experience, Bedford worked as an aircraft appearance agent and lavatory truck driver in Denver and as a cross-trained customer service agent in Oklahoma City. Bedford also worked a shift at 35,000 feet as a Frontier flight attendant. A video clip is available to watchย here.
This Sunday weโll invite guests flying onboard Frontierโs Airbus aircraft to enjoy complimentary DIRECTVยฎ service โon the bossโ so they can tune into CBS at 9 p.m. EDT. Prior to the episode airing, fans of FrontierโsFacebook fan page can take a special โUndercover Bossโ quiz to earn a $25 credit toward their next flight. Followers of Frontierโsย Twitter feed can tune in Sunday evening to learn interesting facts and figures about the jobs featured in the episode.
Republic Airways (Republic Airlines 2nd) Embraer ERJ 170-100SU N821MD (msn 17000042) FLL (Bruce Drum), originally uploaded by Airliners Gallery.
Republic Airways Holdings Inc. (Indianapolis) reported operating revenues of $683.3 million for the quarter ended June 30, 2010, a 113.6% increase, compared to $320.0 million for the same period last year. The increase in revenues is primarily due to the acquisition of Frontier Airlines and Midwest Airlines during 2009. The Company also reported net income of $2.6 million, or $0.08 per diluted share, for the quarter ended June 30, 2010, compared to $14.1 million of net income, or $0.41 per diluted share, for the same period last year.
During the second quarter of 2010, the Companyโs pre-tax income of $4.8 million was negatively impacted by a total of $19.7 million of items: $18.5 million of expenses related to the integration of the branded business and accruals for the lease return costs of two A318 and five Q400 aircraft; $6.4 million in negative adjustments for fuel hedges and prior period fuel excise taxes; and a $5.2 million positive adjustment due to a reduction in lease obligations for Midwest aircraft and office facilities.
During the quarter the Company took delivery of two Airbus A320 aircraft and the final two Embraer ERJ 190 aircraft previously purchased from US Airways and removed six Bombardier DHC-8-402 (Q400) aircraft from service. The Company also placed back into service two Embraer ERJ 145 aircraft that were previously removed to be returned to the lessors. The total operational fleet remains unchanged from March 31, 2010 at 282 aircraft as of June 30, 2010.
On April 13, 2010, the Company announced the selection of the Frontier Airlines name for its consolidated branded network.
As a reminder, Midwest and Frontier Airlines were acquired on July 31, 2009 and October 1, 2009, respectively.
On July 1, 2010, the Company announced that it will remove four 120-seat Airbus A318s and one 76-seat Embraer ERJ 170 aircraft from scheduled service for Frontier in September 2010. Three of these aircraft will be sold to third parties and two will be returned to their lessors. Beginning in January 2011, Frontier will accept the first of six new 162-seat A320 aircraft. All six aircraft have firm lease financing arranged and will be arriving during the first two quarters of 2011.
On July 21, 2010, the Company announced a letter of intent with Embraer to acquire 24 Embraer ERJ 190 or ERJ 195 aircraft with deliveries beginning in the mid 2011. The Embraer 190 would offer 99 seats, while the ERJ 195 would be configured with 116 seats if the Company chose to convert any of the orders. Both aircraft types would be configured with STRETCH seating. The aircraft would be used to replace smaller regional jets in the Company as well as create growth for Frontier into 2012.
Copyright Photo: Bruce Drum. Republic Airlines’ (2nd) Embraer ERJ 170-100SU N821MD (msn 17000042) is painted in the house colors of its parent Republic Airways Holdings. The regional jet is pictured departing from runway 27R at Fort Lauderdale/Hollywood.
Republic Airways Holdings (Indianapolis) announced today it has signed a Letter of Intent (LOI) with Embraer to acquire 24 new Embraer ERJ 190 aircraft with the option to convert any of the aircraft in the order to the larger Embraer 195 model. The LOI is subject to final documentation, including final commercial terms.
Under the agreement, deliveries would begin in mid 2011, with the first six aircraft arriving by the end of the year. The aircraft would be configured in a single-class arrangement and include stretch seating, a key on-board amenity offered in Republicโs branded operation. The Embraer 190 would offer 99 seats, while the E195 would be configured with 116 if Republic chose to convert any of the orders.
Midwest Airlines-Republic Airlines (2nd) Embraer ERJ 190-100 IGW N162HL (msn 19000231) LAX, originally uploaded by Airliners Gallery.
Frontier Airlines (2nd) (Denver) yesterday (May 14) launched new nonstop service between the carrierโs Denver hub and Fairbanks (FAI); Grand Rapids (GRR) and Long Beach (LGB). The carrier also launched new nonstop service between its Milwaukee hub and Seattle/Tacoma (SEA). The service is part of a 17-market expansion taking place this spring and summer, making Frontier the fastest-growing major carrier in the United States. Services will be operated by Frontier’s Airbus A318s and A319s and Republic Airlines’ Embraer ERJ 190s.
In the coming weeks, Frontier Airlines will launch service between Denver and both New Orleans and Santa Barbara, Calif. The carrier will also launch service from Kansas City, Mo. to New Orleans.
Copyright Photo: Republic Airlines’ Embraer ERJ 190-100 IGW N162HL (msn 19000231), dressed in Midwest’s retiring livery, arrives at Los Angeles while operating a Frontier flight.
Frontier Airlines (2nd) Airbus A318-111 N809FR (msn 3092) ATL (Norbert G. Raith), originally uploaded by Airliners Gallery.
Republic Airways Holdings Inc. (Indianapolis) reported operating revenues of $608.7 million for the quarter ended March 31, 2010, an 87.1% increase, compared to $325.3 million for the same period last year. The increase in revenues is due to the acquisition of our branded carriers during 2009. The Company also reported a net loss of $36.5 million, or $1.06 per diluted share, for the quarter ended March 31, 2010, compared to $2.2 million of net income, or $0.06 per diluted share, for the same period last year.
During the first quarter of 2010, the Companyโs pre-tax loss of $58.5 million was negatively impacted by an $11.5 million, non-cash impairment to write off the Midwest Airlines trademark and reduce the carrying value of other assets. The Company also recorded a total of $13.1 million of expenses related to the integration of the branded business and the return of Bombardier Q400 and CRJ aircraft. Also, the severe winter storms in the first quarter of 2010 had an estimated $7.5 million negative impact on pre-tax results.
Excluding all non-recurring items and the impact of the storms, the Companyโs pre-tax loss was $26.4 million.
Copyright Photo: Norbert G. Raith. A superb view of subsidiary Frontier Airlines’ Airbus A318-111 N809FR (msn 3092) arriving at Atlanta.
You must be logged in to post a comment.