Republic Reports Profit, Revenue and Passengers Increase

Republic

Republic Airways Holdings, which owns Chautauqua Airlines, Republic Airlines and Shuttle America, reported a profit of $84.6 million for the year 2008, up 2.2% from the prior year. Republic also reported that revenue rose 14.5% compared to last year to $1.48 billion.

Operating profit (profit not including investments) also rose in 2008 to $255.1 million, which was 10.8% greater than the reported in 2007. Republic said the increase in revenue was “primarily as a result of an 8.9% increase in block hours and a shift in the mix of flying toward larger regional jets.”

The number of passengers flying with Republic also grew 16.2% to 18.9 million. The company took delivery of eight new E-175 Regional Jets during the fourth quarter and removed seven CRJ200s and the final two E-135s from service. As of Dec. 31 it operated 221 aircraft, two more than in 2007.