Many US airlines pledge allegiance to Republic Airways. The airline holding company's subsidiaries
, Republic Airlines, and
offer passenger flight service to major airports and smaller markets, as well as regional service under code-sharing agreements with
. (Code-sharing allows airlines to sell tickets on one another's flights and extend their network.) The company maintains a fleet of about 240 aircraft and offer scheduled passenger service with more than 1,250 flights daily to 100 cities. Republic made headlines in early 2016 when it filed for Chapter 11 bankruptcy protection.
The company cited a lack of pilots for its troubles. After landing a union contract with its pilots, the company faced higher wage expenses and began renegotiating agreements with its partner airlines. With negotiations still pending, Republic filed for Chapter 11 bankruptcy in February 2016.
Republic carriers serve 100 cities in the US, Canada, and the Caribbean. The company has maintenance hangers in Indiana, Ohio, Kentucky, Pennsylvania, Missouri, and Wisconsin. It has a training facility in Indiana.
Republic posted a massive decline in revenues from $2.81 billion in 2012 to $1.35 billion in 2013, primarily due to the selling of its
subsidiary during 2013. Revenues increased 2% to $1.38 billion in 2014.
The company's profits have fluctuated over the years; after decreasing in 2013, profits more than doubled from $27 million from 2013 to $64 million. The surge in profits was driven by a $18 million gain in the fair value of assets during 2014.
In late 2013 Republic sold its under-performing
subsidiary to an investment fund affiliated with Indigo Partners. It made the move in order to focus on its core regional jet operations and enhance its relationships with its major airline partners.
Republic made headlines in late 2015 as it engaged in heated talks with its pilots union to settle contract disputes. Avoiding filing for bankruptcy, in late 2015 both sides agreed to a three-year contract for 2,100 Republic pilots represented by the Teamsters. Higher pay for the pilots led to further problems, though, and within months the firm ended up filing for bankruptcy protection anyway.