INDIANAPOLIS--(BUSINESS WIRE)--Republic Airways Holdings Inc. announced that the United States Bankruptcy Court for the Southern District of New York issued its ruling approving the Company’s comprehensive amendment to its agreement with United Airlines. The amended agreement provides substantial and interrelated operational and economic benefits, and provides for the uninterrupted flying of all fifty-four (54) E170 and E175 aircraft currently operated by Republic for United. The agreement also extends the terms to all current E170s and, subject to certain conditions, allows for further deliveries of E175s under revised new aircraft delivery schedules. The Company anticipates the court’s approval will become effective on June 23, 2016.
Zirinsky Law Partners PLLC and Hughes Hubbard & Reed LLP are serving as Republic’s legal advisors in the restructuring. Seabury Securities LLC is serving as Republic’s financial advisor. Sidley Austin LLP is serving as United’s legal advisor.
About Republic Airways
Republic Airways Holdings Inc., based in Indianapolis, is an airline holding company that owns Republic Airline and Shuttle America Corporation, collectively called “the airlines.” The airlines offer approximately 1,000 flights daily to 105 cities in 38 states, Canada, the Caribbean, and the Bahamas through Republic’s fixed-fee codeshare agreements under our major airline partner brands of American Eagle, Delta Connection and United Express. The airlines currently employ about 5,800 aviation professionals. For more about Republic Airways, please visit our website at www.rjet.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Republic Airways Holdings' business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see the summary of risk factors contained in our earnings release.
