Republic reports $70m operating profit in Q2

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Republic Airways reports an improved operating profit of $70.3 million in the second quarter.

Operating revenue was down 8.7% to $664.4 million with operating expenses down 10.4% to $594.1 million.

Net profit was up 23% to $24.6 million during the quarter at the Indianapolis-based regional carrier.

"We are pleased to report improved financial results for the second quarter, driven primarily by the year over year improvement in our small regional jet operations at Chautauqua," says Bryan Bedford, chairman, president and chief executive of Republic.

The Republic Airlines segment saw pre-tax income increase 45.8% to $27.7 million on $336.8 million in operating revenues.

Traffic increased 1.9% and capacity fell 0.3% during the quarter, driving a 1.7 percentage point increase in load factor to 78.4%.

The Frontier Airlines segment saw pre-tax income fall nearly 3% to $13.7 million on $327.6 million in operating revenue.

Traffic fell 9.4% and capacity was down 10.1% during the three months ending June, resulting in a 0.8 percentage point improvement in load factor to 90.9%.