Republic ups loan to Midwest, adds small aircraft to the current deal

Washington DC
Source:
This story is sourced from Pro
See more Pro news »

Republic Airways Holdings has agreed to loan a further $6 million to Midwest airlines and add 12 37-50-seat jets to flying Republic current conducts on behalf of Midwest.

Prior to the latest loan, Republic has supplied $25 million in loans to Midwest. An original $15 million loan coincided with the two companies reaching a deal for Republic to fly 12 70-seat Embraer E-170s for Midwest.

Last month the agreement was broadened to include two extended range Embraer E-190 aircraft that are scheduled to start service in August and September.

Republic detailed the latest changes to its relationship with Midwest in a filing with US regulators. The 12 smaller jets are scheduled to enter service by January 2010. The company says all the aircraft will be sourced from its existing fleet or through a third party lessor.