Republic Pares Drop After Pilot Union Says Willing to Talk
- Airline had raised possibility of bankruptcy without contract
- Union local refused to allow vote on Republic's last offer
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Republic Airways Holdings Inc. shares almost erased a decline after the airline’s pilot union said it was ready to resume talks on a contract, easing investor concern of a possible bankruptcy.
The regional carrier has said a court-supervised restructuring is an option if a new contract isn’t secured. The shares had plunged as much as 32 percent after Teamsters General President James Hoffa refused to overturn a decision by Local 357 negotiators to skip a vote on the latest offer, which Republic had called a “final” one.