ATP Grads at Airlines

Republic Airways 4Q profit rises nearly 6 percent

Published Feb 24, 2010 on Pilot Jobs

FREE Airline Pilot Career Guide. — Requirements, Pay, Steps and More. Download Now »

Republic Airways Holdings Inc., operator of several regional airlines, cited a big one-time gain related to its acquisition of Frontier Airlines as it reported that its fourth-quarter profit rose nearly 6 percent on higher sales.


The fourth-quarter results included $109.2 million of goodwill and other impairment charges and a $203.7 million gain on bargain purchase related to the acquisition of Frontier Airlines. Excluding one-time items, net income was 3 cents a share.

Revenue in the quarter rose 87.9 percent to $637.3 million from $339.3 million a year earlier. Republic acquired Frontier in the fourth quarter.

Analysts surveyed by Thomson Reuters, who generally exclude one-time items from their estimates, were expecting fourth-quarter earnings of 6 cents a share on revenue of $342.5 million.

Full-year profit came to $39.7 million, or $1.13 a share, compared to profit of $84.6 million, or $2.42 a share, in 2008. Twelve-month revenue came to $1.64 billion, compared to $1.48 billion in 2008.

As of the end of 2009, the company had $350.2 million in cash, of which $192.7 million was restricted. Its debt stood at $2.79 billion as of Dec. 31.

Besides Frontier, Republic also operates Republic Airlines, Midwest Airlines, Chautauqua Airlines, Lynx Aviation and Shuttle America.

Get Your Free Airline Pilot Career Guide Download Yours Now — No Obligation

Airline Pilot Career Guide PDF

Free Airline Pilot Career Guide

Get your complete guide on how to become a pilot — Requirements, Pay, Steps and More.

Download Now »