Republic Soars Most Ever as Pilot Deal Eases Bankruptcy Risk
- Accord now goes to ratification vote to union members
- Analyst still sees need for concessions from airline partners
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Republic Airways Holdings Inc. soared 82 percent, the most ever, after reaching a tentative agreement with its pilots union that eases concerns of a possible bankruptcy filing.
Terms of the three-year contract weren’t immediately disclosed in Monday’s statement from the airline and the International Brotherhood of Teamsters. The accord now goes to a ratification vote by Republic’s 2,100 pilots.