Republic Airways Holdings Orders
(March 23, 2004) – Republic Airways Holdings Inc., the parent of Chautauqua Airlines and Republic Airlines announced today the order of up to fifty Embraer 170 aircraft. The order consists of thirteen firm aircraft, twelve conditionally firm aircraft and 25 option aircraft. Under the purchase agreement, delivery of the first thirteen aircraft will begin in July and continue through December 2004. All firm aircraft and three of the conditionally firm aircraft will be operated by Republic Airlines and placed into service with United Airlines as part of their United Express program. The total value of the firm contract is $325 million, with a potential value of more than $1.3 billion if all conditionally firm and option aircraft are converted to firm orders.
“The addition of the Embraer 170 jets to the fleet of Republic Airlines will offer expanded opportunities for our business as network carriers continue to look for larger capacity aircraft capable of offering a true mainline product but at regional jet operating economics,” said Bryan Bedford, Chairman, president and CEO of Republic Airways Holdings. “This order will allow us to further Republic Airways Holdings’ goal of delivering high quality, low cost regional jet lift to our major airline partners.”
“Republic has established itself as a leading provider of regional jet lift. To have our new Embraer 170 aircraft chosen to join Republic’s fleet of aircraft is the highest praise.” said Maurício Botelho, President and CEO of Embraer. “Network carriers that partner with Republic Airlines will find the EMBRAER 170 provides them with the same high standards of cabin comfort and appeal and will offer a truly seamless experience throughout their respective networks.” Republic Airways Holdings through its airline subsidiaries is the third largest operator of Embraer aircraft worldwide.
The EMBRAER 170 seats 70 to 78 passengers. Its unique cross-section provides superior passenger comfort in the form of a larger cabin with maximized cabin width at shoulder level, a wider aisle, larger seats, higher baggage capacity, improved personal space, and increased leg room. Four-abreast seating eliminates undesirable middle seats, facilitates access to both seats and overhead bins. The EMBRAER 170 is powered by twin, under-wing mounted General Electric CF34-8E engines. The EMBRAER 170 has four main doors and offers airlines maximum cabin configuration flexibility for dual class, single class, or higher-density seating arrangements.
Republic Airways Holdings, based in Indianapolis, Indiana is an airline holding company owned by investment funds organized and managed by Wexford Capital LLC, a Greenwich, Connecticut-based investment advisor. Republic currently owns two regional airline subsidiaries: Chautauqua Airlines and Republic Airlines.
Chautauqua Airlines was recently named this year’s Regional Airline of the Year by Air Transport World. The airline is celebrating its Thirtieth anniversary of scheduled commercial passenger service.
Chautauqua Airlines offers scheduled passenger service on more than 500 flights daily to 67 cities in 27 states, Canada and the Bahamas through code sharing agreements with three major U.S. airlines. The all-jet airline currently operates a fleet of 83 Embraer regional jets: 53 ERJ-145s, 15 ERJ-140s and 15 ERJ-135’s. All of its flights are operated under its major airline partner brand, AmericanConnection, Delta Connection and US Airways Express. The airline employs more than 1,900 aviation professionals.
More information on Republic Airways Holdings and its subsidiaries can be found at the company’s website at www.rjet.com.