INDIANAPOLIS--(BUSINESS WIRE)--Republic Airways Senior Vice President and Chief Financial Officer Joe Allman was named CFO of the Year top honoree for private companies with revenue over $100 million by the Indianapolis Business Journal on Wednesday. Allman, who joined Republic in 2007 and was appointed as the airline’s chief financial officer in 2015, has led Republic to one of the top companies in the city, ranking third in the IBJ’s list of private companies in Indianapolis of highest revenue earlier this year.
“While any company would agree that a CFO must be forward-thinking, data-driven and laser-focused, Joe is also a genuine, caring leader, and that’s made all the difference in the growth our airline has experienced the past several years,” said Bryan Bedford, Republic Airways president and chief executive officer.
In the four years in his current role, Allman has led the airline through a significant financial restructuring in bankruptcy which streamlined the holdings company from three airlines to one and three fleet types to one, while emerging in a state of growth. The business is now sitting in its best position in over a decade with long-term contracts with its codeshare partners, American Airlines, Delta Air Lines and United Airlines, and the strength of Republic’s balance sheet today is reflective of continued reduction in leverage and improving cash positions.
Beyond that, Republic’s healthy financial state has enabled the airline to be proactive in workforce development, and in the past two years, the airline has invested in creating a vertically integrated flight training program, Leadership in Flight Training (LIFT) Academy and most recently announced a maintenance technician apprenticeship program at LIFT, as well.
Republic is currently one of the fastest growing regional airlines in the country. That growth includes an expansion with Delta to grow Republic’s fleet by 30 aircraft for 16 percent more flights across their system and two new crew bases in Boston and Louisville that opened earlier this month.
Allman has been instrumental in the strides the company is making in technology advancements, as well. Under his leadership, Republic’s IT department has been touted for its recent innovation and tech-forward approach to processes. Republic’s Nirav Shah was recognized earlier this year as an IBJ and TechPoint CIO of the Year honoree, and the company was featured in Dell Technology World with its virtual reality flight training experience.
Overall, Allman has helped the company become more innovative in its approaches to workforce development, creating efficiencies and advancing technologies, transforming Republic’s potential to become a leader in the aviation industry.
“I’m honored and humbled to receive this honor and be recognized among the best in the business. I’m fortunate to work with talented individuals whose dedication, skill and enthusiasm make my job easier and more enjoyable,” Allman said.
While Allman has made remarkable business contributions to Republic, his passion to engage with corporate and community responsibility initiatives shines. He is a champion of the company’s charitable efforts, and he volunteers his time with Habitat for Humanity and The Refuge as well as serves in leadership at Southport Presbyterian Church and with his children’s youth organizations. A veteran and graduate of the United States Coast Guard Academy, Allman also supports our veterans and active military.
The biographies of the CFO of the Year honorees can be found at www.ibj.com.