Republic Soars Most Since 2004 With Frontier Separation Plan
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Republic Airways Holdings Inc. jumped the most since the shares began trading in 2004 after expanding its restructuring of Frontier Airlines and saying it plans to sell or spin off the carrier acquired out of bankruptcy in 2009.
Agreements have been reached to cut lease payments on some planes, defer deliveries of others and return two to lessors, the company said in a statement. Chief Executive Officer Bryan Bedford said today he expects an unspecified number of job cuts, and asset sales and new debt also are being evaluated.