Republic Net for Q3 Down to $20.2 Million

Republic Airways Holding said its net profit in the September quarter dropped eight percent to 20.2 million on operating revenues of $330.1 million, which were up 7.8 percent. The company cited $7 million in transition expenses, which include un-reimbursed aircraft costs, increased pilot training expenses, and forgone profits on the company's reduced scheduled operations during the Q3. Passenger revenues increased 20.2 percent for the third quarter of 2007. This increase was primarily the result of a 22.6 percent increase in available seat miles (ASMs) to 3.0 billion ASMs, up from 2.5 billion ASMs, and an 18.3 percent increase in block hours resulting from the addition of 21 Embraer ERJ 170/175 regional jets placed into fixed-fee service since September 30, 2006 and 24 Bombardier CRJ-200 regional jet aircraft placed into fixed-fee service during the first nine months of 2007.