Republic posts nearly $33m Q3 operating profit

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Republic Airways reports a $32.8 million operating profit in the third quarter, as it prepares to close its sale of Frontier Airlines to Indigo Partners in December.

Operating revenues rose 0.4% to $338.6 million and operating expenses were up 2.6% to $305.8 million, resulting in a nearly 17% decrease in the Indianapolis-based regional carrier’s operating profit during the quarter.

However, expenses related to the sale of Frontier pushed Republic to a $13.8 million net loss for the quarter, a reversal from a nearly $26 million profit in 2012.

The airline reported an $18.1 million loss from the sale of discontinued operations in the third quarter.

Costs per available seat mile (CASM) excluding fuel rose 6.2% to 9.28 cents in the quarter versus 2012.

Republic traffic was down 0.1% on a 1.3% increase in capacity during the three months ending in September.