Republic Airways wins exclusivity extension in light of complexities

By Caroline Salls

Pittsburgh, June 20 – Republic Airways Holdings Inc. obtained an extension to its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to an order filed June 17 with the U.S. Bankruptcy Court for the Southern District of New York.

The company’s exclusive filing period was extended through Dec. 31, 2016, and the solicitation period was extended through May 1, 2017.

“The size and complexity of, and legal issues attendant to, these seven Chapter 11 cases warrant an extension of the exclusive periods,” said the motion.

“The magnitude of the cases is even further complicated by the difficult and complex negotiations that Republic has undertaken in an effort to achieve modified agreements with all its codeshare partners and agreements with aircraft counterparties for the early return of, and settlement of claims with regard to, out-of-favor aircraft – all of which are integral to Republic’s restoration of service and its long-term operations and profitability.”

Based in Indianapolis, Republic Airways is a passenger and air freight service company. It filed for bankruptcy on Feb. 25 under Chapter 11 case number 16-10429.

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