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Thread: Delta helps Republic. What will American do for them?

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    Registered User NoOtPilot's Avatar
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    Delta helps Republic. What will American do for them?


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    I always tell the truth. Even when I lie.

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    Delta is probably just paying them to go away.

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    american gave them a bunch eagle flying and a Mia base. what more is needed?

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    Ord and Dfw.
    Sir, can I have another.

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    Dal is now DIP - look for them to do everything to protect their ops at the expense of others. Look for AAG to go else where as DAL pulled another Pinnacle/Endeavor while AA had their pants down around their ankles

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    I really think they will make it out of this with not a single change to there contract and will take all the new hires. Lucky dogs

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    Their chpt 11 won't involve pilot contracts. Changing the contracts with the Airlines. Delta getting rid of the 145s they still use. Not sure how many pilots that is but sure will help. Maybe some relief on the AA side. Which would help us with a Miami base.

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    Quote Originally Posted by EGF View Post
    Their chpt 11 won't involve pilot contracts. Changing the contracts with the Airlines. Delta getting rid of the 145s they still use. Not sure how many pilots that is but sure will help. Maybe some relief on the AA side. Which would help us with a Miami base.
    They've already moved MORE Republic 175's to MIA from ORD which is why the CRJ is back to doing long flights that the 175 has been doing for months.

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    Republic Airways Shareholders Push For Seat at the Table

    ENLARGE
    Republic Airways filed for bankruptcy in February. Photo: Associated Press



    ByLillian Rizzo

    April 6, 2016 5:00 p.m. ET

    A battle is brewing between Republic Airways Holdings Inc. and its shareholders, who want more time to review crucial bankruptcy milestones which would likely wipe out their holdings following the airliner’s exit from chapter 11 protection.
    The shareholders, who own more than 40% of Republic’s equity, want more time to review the airline’s recently struck deal with Delta Air Lines Inc.,and to have an appointed committee to handle their claims.
    Republic is seeking to stop the brouhaha in its tracks and is asking a bankruptcy watchdog to reject the shareholders’s bid to keep the chapter 11 process on track.
    Republic says there will likely be no recovery for shareholders since the airline’s financial adviser estimates it had negative equity value between $200 million and $400 million when Republic filed for bankruptcy.
    “It would be inappropriate and a waste of the estates’ assets” to burden Republic substantial and duplicative costs and expenses of an additional committee, the company wrote in a letter to the government’s bankruptcy watchdog.
    Republic’s financial adviser estimates the company’s restructuring will result in at least $585 million to potentially more than $1 billion in claims.
    Representatives for Republic and the shareholders’ group weren’t available for comment.
    The shareholder group is primarily made up of hedge funds, including funds managed by Axar Capital, which is run by industry titans Andrew Axelrod,Louis Moore Bacon and Julian Robertson. Among the other Republic shareholders are Drawbridge Special Opportunities, which is backed by Fortress; and the George Soros-backed Quantum Partners.
    The Indianapolis-based Republic filed for bankruptcy in late February, namely because of the pilot shortage hitting regional carriers. In its bankruptcy petition, Republic listed roughly $3.6 billion in assets and debts of $2.97 billion.
    That’s enough, the shareholders say, to question whether the carrier is truly insolvent.
    Republic counters that even though its balance sheet, as of Dec. 31, shows “a positive book value of $600 million,” the claims will far exceed the asset valuation in bankruptcy, which wasn’t reflected in 2015 financial statements.
    Republic flies on behalf of commuter carriers such as Delta and American Airlines Group Inc.Regional carriers have struggled to hire pilots due to relatively low starting salaries and new rules by U.S. regulators requiring new aviators to have additional training.
    In March, Republic reached a deal with Delta, settling a lawsuit and lining up a $75 million bankruptcy loan from the carrier to fund the restructuring. Delta had sued Republic in October in the midst of a pilot shortage that caused Republic to ground some of the flights operated for Delta and other carriers. The proposed settlement calls for a code-sharing relationship.
    The shareholders say in court papers they haven’t had enough time to review the matters, which are scheduled to go before JudgeSean Lane in the U.S. Bankruptcy Court in Manhattan on April 14.
    Judge Lane has scheduled a status conference to be held on Friday to decide whether the hearing next week will still go forward.
    Write to Lillian Rizzo at Lillian.Rizzo@wsj.com

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    Oh great, Judge Lane? Yeah, the shareholder group is screwed. He won't do jack for them. Just like he did during AA bankruptcy.

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    No you are wrong, Lane did everything for AA management. He also was given lifetime positive space travel for being very fare by AA.(lie)
    Sir, can I have another.

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    Delta helps Republic. What will American do for them?


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    I was talking about the shareholder group, not Republic management.

    --------------

    Disregard. I see what you meant. My previous post was not worded clearly.
    Last edited by Highflyer1980; 04-07-2016 at 11:36 AM.

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    Delta and united down. What will AA Do? Prob help them keep there first year pay. We need first year pay bad for our fos.

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    What you guys don't get paid anything first year?
    Sir, can I have another.

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    Quote Originally Posted by ardvark View Post
    What you guys don't get paid anything first year?
    Huh?

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    Your last sentence above. Having a little fun. Being that is all anyone can do here with the aag boneheads.
    Sir, can I have another.

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    Quote Originally Posted by ardvark View Post
    Your last sentence above. Having a little fun. Being that is all anyone can do here with the aag boneheads.
    Is this the end of Republic and AAG?
    Jerry Glass where are you now!

    Republic Airways Holdings Inc. and United Airlines Reach Comprehensive Agreement on a Long-Term Commercial Relationship
    Revised relationship with United moves Republic closer toward achieving a successful reorganization

    May 27, 2016 08:09 PM Eastern Daylight Time
    INDIANAPOLIS--(BUSINESS WIRE)--Republic Airways Holdings Inc. (OTC:RJETQ) announced today that it has reached an agreement with United Airlines that secures the long-term relationship between the two airlines. The motion filed today in the United States Bankruptcy Court for the Southern District of New York keeps Republic on a path towards achieving the goals established at the outset of this case.

    “The agreement also completes a major milestone in our reorganization effort and keeps us on schedule to achieve our goal of emerging from bankruptcy by the end of the year”
    Tweet this
    “Today’s announcement further strengthens an important relationship for Republic. The agreement we have reached today once approved will secure United as a long-term strategic partner, provide significant benefits to our airline, and will preserve a reliable and on-time travel experience for United’s customers,” said Bryan Bedford, Chairman, President and CEO of Republic. “The agreement also completes a major milestone in our reorganization effort and keeps us on schedule to achieve our goal of emerging from bankruptcy by the end of the year,” Bedford added.

    The parties anticipate that the motion will be heard before the Honorable Sean H. Lane on June 15, 2016. The amended agreement would provide for the uninterrupted flying of all fifty-four (54) E170s and E175s currently operated by Republic for United and also for future Ejet flying by Republic for United through term extensions to all current E170 aircraft and, subject to certain conditions, expected further deliveries of E175 aircraft under revised new delivery schedules. The new agreement will become effective upon issuance of the approval order by the court.
    Last edited by NoOtPilot; 06-01-2016 at 03:01 PM.

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    There's no way that AAG would give up RJET. Maybe 5 yrs ago, but not today and in this market

  20. #20
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    still in rah bk, nothing has been mentioned about the cseries, or is it a quid pro quo with delta?
    Sir, can I have another.

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