Republic Airways had $245.6 million in cash and cash equivalents at the end of March, down less than 1% since the end of December.
The Indianapolis-based regional carrier saw cash rise a dramatic 38.4% from $177.5 million at the end of March 2012.
Cash is expected to be down to between $220 million and $230 million at the end of the second quarter due to payments for 47 Embraer 175s that the carrier has on order for American Airlines, says Joe Allman, vice-president of financial planning and analysis, and treasurer of Republic, during an earnings call on 30 April.
Long-term debt was down 4.3% to $1.76 billion during the quarter compared to December. Debt was down 13.3% year-on-year.