North America

Bankruptcy court approves amended Republic Airways and United Agreement

United Express Embraer 175
Embraer

Republic Airways Holdings announced that the United States Bankruptcy Court for the Southern District of New York issued its ruling approving the Company’s comprehensive amendment to its agreement with United Airlines.

The amended agreement provides substantial and interrelated operational and economic benefits, and provides for the uninterrupted flying of all fifty-four Embraer 170 and Embraer 175 aircraft currently operated by Republic for United. The agreement also extends the terms to all current Embraer 170s and, subject to certain conditions, allows for further deliveries of Embraer 175s under revised new aircraft delivery schedules. The Company anticipates the court’s approval will become effective on June 23, 2016.

Zirinsky Law Partners and Hughes Hubbard & Reed are serving as Republic’s legal advisors in the restructuring. Seabury Securities is serving as Republic’s financial advisor. Sidley Austin is serving as United’s legal advisor.

Republic Airways Holdings, based in Indianapolis, is an airline holding company that owns Republic Airline and Shuttle America Corporation. These airlines offer approximately 1,000 flights daily to 105 cities in 38 states, Canada, the Caribbean, and the Bahamas through Republic’s fixed-fee codeshare agreements under our major airline partner brands of American Eagle, Delta Connection and United Express. The airlines currently employ about 5,800 aviation professionals.

Republic Airways Holdings announced last February that it and certain of its subsidiaries filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code. The petitions were filed in the U.S. Bankruptcy Court for the Southern District of New York.

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