A US bankruptcy judge has approved Republic Airways Holdings' bankruptcy exit plan, putting the regional airline company on track to emerge from bankruptcy protection before the end of April, Republic announces.
“With the work of restructuring complete, we’re ready to come out of Chapter 11 laser-focused on reclaiming our leadership position in the regional airline industry," says Republic chief executive Bryan Bedford in a statement.
Indianapolis-based Republic has used US federal bankruptcy court to slash debts, break leases on unwanted aircraft and transition to a fleet composed primarily of larger, 76-seat Embraer 175 regional jets. The company also consolidated its operations under its Republic Airline division, and shuttered its Shuttle America unit.
The company filed for bankruptcy protection on 25 February 2016.
Source: Cirium Dashboard