Republic Announces Follow-on Public Offering

[USA320Pilot]

Republic Airways Holdings Inc. Announces Follow-on Public Offering of 7,750,000 Shares of Common Stock at $12.60 Per Share

"The Company intends to use the net proceeds and available cash on hand for the purchase of commuter slots and gates and the purchase of ERJ-170 aircraft and other related assets from US Airways Group, as well as other potential aircraft and asset acquisitions."

See Story

Regards,

USA320Pilot

 

[the turtle]

Republic Airways Holdings Inc. Announces Follow-on Public Offering of 7,750,000 Shares of Common Stock at $12.60 Per Share

"The Company intends to use the net proceeds and available cash on hand for the purchase of commuter slots and gates and the purchase of ERJ-170 aircraft and other related assets from US Airways Group, as well as other potential aircraft and asset acquisitions."

See Story

Regards,

USA320Pilot

[post="282581"][/post]​

You guys blast Mesa for being the center of all evil.......Sorry, but THIS is your 800 lb Gorilla

 

[pitguy74]

Republic Airways Attempts to raise funds for UsAirways assets

More on raising funds


Also interesting to point out......

Due to the Company’s failure to take delivery by March 31, 2005 of the remaining three EMB-170 aircraft, damages accrue from and after April 1, 2005 until the delivery of the aircraft at the rate of $162,795 per month per aircraft. If the aircraft are not delivered by July 31, 2005, Embraer’s obligation to deliver such aircraft will terminate and its damages with respect to such undelivered aircraft may be as much as $10 million for all three aircraft (rather than at the rate of $162,795 per month per aircraft), with Embraer having the right to apply any remaining purchase deposits against Embraer’s aggregate damages. The Company is currently working to secure financing for these aircraft and recorded a charge of $2 million in the first quarter of 2005, which is included in Reorganization items in the Statement of Operations, associated with penalties expected to be incurred.

Source:

Filing

What a bunch of goofs :blink:

h34r:

 

[SoldWholeSale]

So what are the chances that ALPA will put anything in the press release out letting the stock purchasing public know that the transaction is under dispute??? None...... The impedant giant can't even stumble in the right direction.

SH

 

[USA320Pilot]

Republic Airways makes public offering to raise funds for U.S. Air assets

Complete Story

Regards,

USA320Pilot

 

[EmbPilot]

So what are the chances that ALPA will put anything in the press release out letting the stock purchasing public know that the transaction is under dispute??? None...... The impedant giant can't even stumble in the right direction.

SH

[post="282683"][/post]​

The problem is that the transaction is not under dispute... How the pilots will come over to REP is what is basically being questioned. The sale has been approved by the courts and the transaction / transfer of a/c will begin as soon as late next week (3 a/c).

The whole argument simply comes down to how the pilots will be integrated at REP.. will it be via the whole pilot group at their MAA seniority, or as JFJ and only 50% comming.

That is really the only argument. The deal is done, the aircraft WILL be tranferred.

 

[pitguy74]

EmpPilot,

Maybe I am just out of the loop (nothing new), but how is Republic going to assume control of the 170's from MDA at this point if they do not hold a certificate yet? I know both Shuttle America and Chautauqua currently fly the 170's, but I thought that Republic needed to get their own certificate before acquiring MDA's aircraft. Unless, this is where UsAirways would lease them back until Republic gets their certificate and MDA would continue to fly the planes. I am beginning to confuse myself :wacko:

 

[TBONEJ4J]

The problem is that the transaction is not under dispute... How the pilots will come over to REP is what is basically being questioned. The sale has been approved by the courts and the transaction / transfer of a/c will begin as soon as late next week (3 a/c).

The whole argument simply comes down to how the pilots will be integrated at REP.. will it be via the whole pilot group at their MAA seniority, or as JFJ and only 50% comming.

That is really the only argument. The deal is done, the aircraft WILL be tranferred.

[post="283239"][/post]​

It's a little more than an integration issue, actually.

If construed as a "Change in Control", not only must the Allegheny-Mohawk LPPs be followed, the acquiring entity (Republic Holdings in this case) will also have to take the MDA Pilot Group's Contract and ALPA.

I'm not sure the IBT or Republic wants to deal with the can of worms that will open up. That is what makes the whole deal questionable if the MDA Pilots force US Airways to comply with LOA 91 change of control provisions.

Investors should know that there is a lot more to this than the issue of the integration of separate pilot seniority lists. B)

ALL or NONE and LOA91.

 

[Rico]

Midatlantic senority...?

Sez who


THAT was what was mentioned during negotiations to resolve this the easy way, now that it has to go thru the grievence procedure and most likely before an arbitrator, my senority is based upon my date of hire pal, not when I merely started training in the E-170...

You obviously do not have a clue what the provisions of an ALG/Mohawk LLP senority intregration means, do ya Embpilot...?

Your senority is based upon your date of hire at CHQ, not when you went to training for the EMB-170, right...? why should mine be considered any differently...?

So many things your people have not considered, or seem to have had huge misconceptions about...

Like I mentioned with the backfilling of CHQ USX E-145 positions, to the tune of 50% of every seat... There are a lot of things that your union should have considered before deciding to do things the "hard way".

Afterall, what do expect from us, to just allow 50% of our guys to be put out on the street, just to make room for your people to simply upgrade or transition...?

Nice <_<

Not to mention, you are getting 100% of the MDA pilots under LOA 91 either way, because EVERY growth USX E-170 AND E-190 aircraft will be 50% staffed with our MDA people from here on out, and ANY attrition of our people, we get those backfilled positions too. (and when every MDA pilot is gone thru, then the reaminder of the furlouughed list/APL gets them)

Not to forget, your union allowed itself to lose the chance to have ALL of the better paying E-190 positions, because they are more concerned about getting only half of the USX E-170 positions right now.



Like I said, we just want what we have now , not to take anything from you, but if forced into the corner we will fight to protect our contractual rights

So do not be so surprised when it turns out a lot differently than you thought it would.

 

[EmbPilot]

Midatlantic senority...?

Sez who
THAT was what was mentioned during negotiations to resolve this the easy way, now that it has to go thru the grievence procedure and most likely before an arbitrator, my senority is based upon my date of hire pal, not when I merely started training in the E-170...

You obviously do not have a clue what the provisions of an ALG/Mohawk LLP senority intregration means, do ya Embpilot...?

Your senority is based upon your date of hire at CHQ, not when you went to training for the EMB-170, right...? why should mine be considered any differently...?

So many things your people have not considered, or seem to have had huge misconceptions about...

Like I mentioned with the backfilling of CHQ USX E-145 positions, to the tune of 50% of every seat... There are a lot of things that your union should have considered before deciding to do things the "hard way".

Afterall, what do expect from us, to just allow 50% of our guys to be put out on the street, just to make room for your people to simply upgrade or transition...?

Nice <_<

Not to mention, you are getting 100% of the MDA pilots under LOA 91 either way, because EVERY growth USX E-170 AND E-190 aircraft will be 50% staffed with our MDA people from here on out, and ANY attrition of our people, we get those backfilled positions too. (and when every MDA pilot is gone thru, then the reaminder of the furlouughed list/APL gets them)

Not to forget, your union allowed itself to lose the chance to have ALL of the better paying E-190 positions, because they are more concerned about getting only half of the USX E-170 positions right now.



Like I said, we just want what we have now , not to take anything from you, but if forced into the corner we will fight to protect our contractual rights

So do not be so surprised when it turns out a lot differently than you thought it would.

[post="283278"][/post]​

Wow, are you confused!!! CHQ/REP JFJ program is set for ONLY 32 airframes, after that the CHQ pilots have to agree to allow any more a/c. Will we take more? That is dependant on alot of problems with our current contract being corrected first. We have an adjenda just as MDA pilots do as well.

I am not sure how much you have read on LOA91 but it is basically based on a transfer of stock to establish change of control. None of that has occured thus no change of control. Read it... the letter is posted on another site if that helps!

I wish you guys would finally understand that the reason we accepted JFJ was not the addition of shiny new airframes, but to keep an alter-ego airline from being established. The J4J was required to do that. We are glad to help fellow furloughed pilots, but not at the cost of our current seniority list. How many other airlines are even trying to help furloughed pilots? not many! So instead of feeling like we are the bad guy.... We protect our own, just as you try to protect yours.

 

[SoldWholeSale]

Alter ego..... Hmm, so if USAirways pilots would have gone to Republic to fly 145's on their routes from which they were furloughed, that would be an alter ego? Thats how it was shaking out wasn't it? The only reason IBT didn't lose that battle is because the AAA MEC stepped in and stopped the process from going any further until the CHQ IBT had a single carrier letter.

Fact is, in a couple of years it could be cheaper to furlough you and the rest of the CHQ pilots and let, Colgan Air and their newly aquired jets fly your routes..... Wouldn't that suck? Thats the shoe on the other foot and the reason why this profession has degraded to where it is now. Well, that and the likes of 320Pilot who would sell his mother to stay active on a list.

SH.

P.S. Noone at MDA is out to do any harm to the CHQ pilots, you guys do good work. However if you guys believe the spin being put out for you to snack on by your managment, you deserve what you get. LOA91 has nothing to do with stock....

 

[markkus757]

The entertaining part of this(depends on where you're coming from) is that the pilots are about two steps behind and continue to be since the E170 showed up. I'm surprised that people did not catch onto the company plan this late. If you can't figure out what I'm talking about, why does the a/c have Express already written on it? You'll be fighting this for a couple of years and it will be a moot point by then, because the next contract you sign with the new company will address this. You'll cave, as usual, and it will all be done.

 

[fr8tmastr]

Markus, The reason the 170 has express on the side of it is 3 fold. first one being the wanted this to be a seperate company, that didnt work. 2nd reason is connected to the first, management knew that if it says express on the side their is a large number of ML pilots who wont pay attention to it. (I believe this has changed now) Third is management wanted to "Express" a bunch of stations and this could be done according to how many ML vs. Express AC operated out of them determined if they could do it or not.

You are correct the pilots have historically caved in at the first threat from management. However this time there are 300 pilots that have said no way! I hope they can hold it together for the good of all pilots. because we all should know by now, the threats will be coming any day now.

 

[foreright]

We are glad to help fellow furloughed pilots, but not at the cost of our current seniority list. How many other airlines are even trying to help furloughed pilots? not many! So instead of feeling like we are the bad guy.... We protect our own, just as you try to protect yours.

[post="283300"][/post]​

you could give a rats ass about "helping us out" Yeah thanks for the downgrade to fo, 30k year paycut, the chance to sling gear for a 20yo. oh yeah the staple on the bottom and the 2 year training contract....bye the way whos training who?????? youll do much better off shutting your pie hole!!!

ALL OR NONE!!!!!!!!!
LOA91

 

[EmbPilot]

you could give a rats ass about "helping us out" Yeah thanks for the downgrade to fo, 30k  year paycut, the chance to sling gear for a 20yo. oh yeah the staple on the bottom and the 2 year training contract....bye the way whos training who?????? youll do much better off shutting your pie hole!!!

ALL OR NONE!!!!!!!!!
LOA91

[post="283457"][/post]​

There we go.. the aprehensable rudeness. Your "We are better than you", attitude has nothing to do with the issue. If you don't want 30K paycut, find another place to work. What you seem to forget is that some of us are perfectly content with what we get paid. If that is to low for you, take a hike. Don't tell me what you should be paid, we all know you get paid what you negotiate, not what your worth. With that attitude, i'm surprised your not flying 172's and your local flight school! Get over it! Just take a look at what is staring you in the face. God, that is why so many CHQ/REP pilots hope you do quit and not take jobs at CHQ. You are not some SUPER-Pilot, get over that attitude. You make barely more than CHQ/REP pilot's currently make. YOU SOLD OUT YOUR SOULS FOR MAA AND A "C" SCALE PAY RATE, AND YOU WANT TO BLAME US FOR IT????

Get a grip and just watch where the chips are about to fall.