Republic Airways Holdings posts first quarter 2012 net loss of $7.1m

Republic Airways Holdings reported operating revenues of $697.6m for the quarter ended March 31, 2012, an increase of 5.8%, compared to $659.1m for the same period last year. The Company reported a net loss of $7.1m for the quarter ended March 31, 2012, compared to a net loss of $22.4m for the same period last year. Republic revenues decreased 4.5%, compared to the prior year’s first quarter on a 4.7% decrease in block hours. As of March 31, 2012, Republic operated 19 fewer 37-50 seat aircraft than a year ago, resulting in lower block hour production. Republic also redeployed 14 of 17 EJet aircraft that were flown on behalf of Frontier in 2011 back into fixed-fee service with Delta.