Republic Airways operating income slides to $16.2 million in February

By Caroline Salls

Pittsburgh, March 20 – Republic Airways Holdings Inc. reported $16.2 million of operating income for February on $89.8 million in total operating revenue, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the Southern District of New York.

In comparison, Republic posted $16.9 million of operating income for January on $97.9 million in total operating revenue.

Net income for February was $4.3 million, declining from $5.9 million of January net income.

The company had $196.9 million in cash and cash equivalents as of Feb. 28, down from $187.9 million at the end of January.

Based in Indianapolis, Republic Airways is a passenger and air freight service company. It filed for bankruptcy on Feb. 25, 2016 under Chapter 11 case number 16-10429.

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