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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowRepublic Airways Holdings Inc. yesterday reported lower revenue and profit for the fourth quarter of 2008, but the financial performance exceeded analysts’ expectations.
The Indianapolis-based airline had revenue of $339.3 million for the quarter ended Dec. 31-3.6-percent less than the $351.8 million it reported for the same period of 2007.
The company had profit of $19 million, or 56 cents per share, for the most recent quarter compared to $24.3 million in profit, or 65 cents per share, for the same period last year.
The profit exceeded the average of seven analysts polled by Thomson Reuters, who expected Republic to report earnings of 47 cents per share for the latest quarter.
For all of 2008, Republic’s revenue increased 14.5 percent, to $1.48 billion, compared to $1.29 billion for 2007. The company had profit of $84.6 million for 2008, or $2.42 per share, compared to $82.8 million, or $2.02 per share, for 2007.
The Company increased its operating fleet to 221 aircraft as of Dec. 31, 2008, from 219 as of Dec. 31, 2007.
Republic owns Chautauqua Airlines, Republic Airlines and Shuttle America. The airlines offer scheduled passenger service on about 1,300 flights daily to 104 cities in 36 states, Canada, Mexico, Jamaica and the Virgin Islands through agreements with seven U.S. airlines.
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