August 29, 2016 8:57 AM ET

Airlines

Company Overview of Republic Airline, Inc.

Company Overview

Republic Airline, Inc. provides scheduled commercial passenger services. It operates a fleet of aircraft. The company was founded in 1979 and is based in Indianapolis, Indiana. Republic Airline, Inc. operates as a subsidiary of Republic Airways Holdings Inc. On February 25, 2016, Republic Airline, Inc. filed a voluntary petition for reorganization under Chapter 11 in the US Bankruptcy Court for the Southern District of New York. It is in joint administration with Republic Airways Holdings Inc.

8909 Purdue Road

Suite 300

Indianapolis, IN 46268

United States

Founded in 1979

Phone:

317-484-6000

Fax:

317-484-4524

Key Executives for Republic Airline, Inc.

Chairman, Chief Executive Officer and President
Age: 54
Vice President of Government Affairs and Vice President of Corporate Communications
Vice President and Controller
Chief Financial Officer, Executive Vice President, Secretary and Treasurer
Age: 56
Chief Safety Officer and Vice President of Safety and Regulatory Compliance
Compensation as of Fiscal Year 2016.

Republic Airline, Inc. Key Developments

DIP Financing Approved for Republic Airways Holdings Inc.

The US Bankruptcy Court gave an order to Republic Airways Holdings Inc. to obtain DIP financing on May 3, 2016. As per the order, the debtor has been authorized to obtain a multiple draw term loan facility in the amount of $75 million from Delta Air Lines, Inc. Delta Air Lines, Inc. also acted as the administrative agent. The DIP loan would carry an interest rate of 5.75% p.a., along with an additional 2% p.a. interest in the event of default. As per the terms of the DIP agreement, the loan carries a commitment fee of 1% p.a. along with an upfront fee of 1% p.a. The DIP facility would mature either one year from the date of entry of the DIP Order, or on the effective date of the plan or on the date of consummation of the sale of substantially all assets, whichever is earlier. Adequate protection would be provided to the DIP lenders in the form of super-priority administrative expense claims which is subject to a carve-out of $5.05 million towards unpaid professional fees / administrative expenses and first priority lien upon and security interest in the debtor’s collateral. The DIP proceeds shall be used to provide working capital and for other general corporate purposes. Marshall S. Huebner of Davis Polk & Wardwell LLP represented the DIP lender as legal advisor.

Bidding Procedure Approved for Republic Airways Holdings Inc.

The US Bankruptcy Court gave an order approving the bidding procedures relating to the sale of certain assets of Republic Airways Holdings Inc. on March 23, 2016. The Court approved procedures for the sale and abandonment of certain assets of Republic Airways Holdings Inc. The debtor’s assets include certain obsolete, surplus, or burdensome assets. If the sale price of a de minimis asset is less than or equal to $0.50 million, no notice or hearing shall be required. If the sale price of a de minimis asset is greater than $0.50 million and less than or equal to $3 million, then the debtor shall file notice with the Court, specifying the assets to be sold and the proposed purchase price. If the sale price of a de minimis asset is greater than $3 million then the file a motion with the Court requesting approval of the sale. The deadline for filing an objection to the proposed sale of de minimis assets shall be 10 days from the date the sale notice is filed.

Motion for Asset Sale Filed by Republic Airways Holdings Inc.

Republic Airways Holdings Inc. filed a motion in the US Bankruptcy Court for the sale of its certain assets on March 4, 2016. The debtor seeks the Court’s approval for the sale of its certain assets and abandonment of certain assets. The debtor’s assets include certain obsolete, surplus, or burdensome assets. If the sale price of a de minimis asset is less than or equal to $0.50 million, no notice or hearing shall be required. If the sale price of a de minimis asset is greater than $0.50 million and less than or equal to $3 million, then the debtor shall file notice with the Court, specifying the assets to be sold and the proposed purchase price. If the sale price of a de minimis asset is greater than $3 million then the file a motion with the Court requesting approval of the sale. The deadline for filing an objection to the proposed sale of de minimis assets shall be 10 days from the date the sale notice is filed.

Similar Private Companies By Industry

Company Name Region
24th Century Air LLC United States
44SH, LLC United States
A-List Jets, Inc. United States
Abilene Aero, Inc. United States
AER Aviation Inc. United States

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

The information and data displayed in this profile are created and managed by Capital IQ, a Standard & Poor's company. Bloomberg.com does not create or control the content. For inquiries, please contact Capital IQ directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Rush University United States
The Advertising Council, Inc. United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact Republic Airline, Inc., please visit www.rjet.com. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.