Republic Airways Announces Plan to Acquire 24 Embraer 190 Jets

Republic Airways Holdings Inc.announced today it has signed a Letter of Intent (LOI) with Embraer to acquire 24 new
Embraer 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.


Republic

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 Republic’s 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.

“We are delighted to be able to increase our fleet of E190
aircraft and possibly add the E195 to our fleet,” said Bryan Bedford,
chairman, president and CEO of Republic Airways. “Republic has enjoyed a
strong and successful, 12-year partnership with Embraer and this letter of
intent is a further reflection of that partnership. The E190 is a consistent
passenger favorite due to its significant personal space and amenities and
offers us unique mission capability from Denver, Milwaukee and Kansas
City.”

Bedford added, “When finalized, the agreement will assist
us in the re-optimization of our fleet by replacing smaller regional jets with
these larger and more economical aircraft.”

“Increasing our average seats per aircraft will
significantly further our progress in improving the efficiency of our network
by allowing us to better match capacity with demand in a variety of
markets,” said Daniel Shurz, vice president of strategy and planning.

Republic Airways Holdings, based in Indianapolis, Indiana is an
airline holding company that owns Chautauqua Airlines, Frontier Airlines, Lynx
Aviation, Midwest Airlines, Republic Airlines and Shuttle America, collectively
“the airlines.” The airlines offer scheduled passenger service on
approximately 1,600 flights daily to 127 cities in 45 states, Canada, Costa
Rica, and Mexico under branded operations at Frontier and Midwest, 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, Delta Connection, United Express, and
US Airways Express. The airlines currently employ approximately 11,000 aviation
professionals and operate 287 aircraft.