Republic Plunges 56% as Pilot Shortage Threatens Flights
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Republic Airways Holdings Inc. tumbled the most ever, wiping out more than half its value, after saying a worsening pilot shortage may create more disruptions in flights the carrier makes for larger airlines.
Talks are under way with American, Delta and United airlines to possibly reduce regional flying the rest of this year and into 2016, Republic said Friday. The company also withdrew all financial guidance and disclosed it hired Seabury Group to evaluate options for the company’s future and advise on improving finances and operations.