Indianapolis based Republic Airways Holdings Inc., which owns and operates Republic Airlines, Chautauqua Airlines, Shuttle America Airlines and Frontier Airlines, reported that their second-quarter net income was $20 million compared to a $14.9 million loss in the year-ago period. The airline said the results were due to mostly to Frontier Airline’s outstanding performance.
“Frontier produced solid year-over-year unit revenue growth and demonstrates the significant value that is being created in our Frontier segment through the network changes and restructuring efforts we accomplished in 2011,” RAH chairman and CEO Bryan Bedford said.
“Despite the significant progress achieved thus far to improve our consolidated business results, we still consumed $39 million of cash in the first six months of 2012; this is unsustainable over the long term,” said Bedford. “We must continue the ongoing effort to restructure our small regional jet operations so that we can return our company to sustainable long-term health and competitiveness.”
The RAH holding company owns and flies a combined fleet of 278 aircraft. The company announced in May that its Republic Airlines subsidiary reached a tentative agreement to operate 32 Bombardier Q400 aircraft under the United Express brand.