Republic To Hold Conference Call Today

USA320Pilot

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Republic Airways Holdings Announces Conference Call to Discuss US Airways Omnibus Agreement

INDIANAPOLIS (BUSINESS WIRE)--March 15, 2005--Republic Airways Holdings Inc. (NASDAQ:RJET) announced today it will hold a conference call to discuss the US Airways omnibus agreement announced yesterday. The conference call will be held today, Tuesday March 15, 2005 at 3:30 pm Eastern Standard Time.

This call is being webcast by Thomson/CCBN and can be accessed at Republic Airways Holdings website at www.rjet.com.

Regards,

USA320Pilot
 
jack mama,

I didn't take notes, so will only say my impression was this. U presented this deal as great for U, Republic presented it as great for them. Guess we'll have to wait for the actual agreement and try to form our individual opinions.....

Jim
 
Earlier today Republic Airlines CEO Brian Bedford conducted a conference call on the US Airways financial agreement. Listed below are some key points from the call:

• The DCA & LGA Slots will be put in a bankruptcy-proof trust and are valued at $52 million.

• The $125 million equity offer is subject to a number of conditions, such as raising total of $350 million and US Airways creating a business plan that is acceptable to Republic.

• This is a Republic deal, not a Wexford deal. Republic could do the $110 million liquidity part on its own, but to give assurances of the $125 million equity portion to US Airways, they thought it prudent to sign Wexford up, too.

• Bedford has not seen US Airways' reorganization plan, he doesn't know what it contains, he has no preset idea of what is acceptable in regard to profit margins.

• "We have been very impressed with the substantial progress that US Airways has made over last four to five months. They have a great franchise on the East Coast. It is our view that US Airways has obtained low-cost carrier-type labor agreements," Bedford said.

• Bedford commented, "They've (US Airways) accomplished their objectives in terms of pension terminations, labor restructurings."

• "We're not going to put the equity in unless we believe it is viable," he said.

• Asked about labor implications of taking over MidAtlantic, Bedford said, “We're not in a position today to talk about the Labor implications of the MidAtlantic deal. ... As this situation develops, we'll address those questions."

• "This agreement reduces US Airways' liquidation risk. It certainly doesn't enhance it. ... To the extent there is liquidation risk, the impact to us is no different today than it was a week ago," Bedford said.

• Even if they don't wind up putting in the equity, Republic still benefits from the added EMB jets and potentially the slots, so it's a good deal for Republic.

Regards,

USA320Pilot
 
USA320Pilot said:
• Even if they don't wind up putting in the equity, Republic still benefits from the added EMB jets and potentially the slots, so it's a good deal for Republic.

Not to mention the guaranteed 5% profit on the additional aircraft, which goes directly to US Airways expense line. This is essentially a great deal for Republic and a bad one for US Airways, IMO. Of course, if you are US Airways, "good" deals are probably very hard to come by right now.
 
Certain individuals claim not to omit important information from their postings, but there were a few points which were left out of the preceding "key points":

* Along with US Airways receiving the right to "put" up to 15 ERJ-145 aircraft as part of the amended Jet Services Agreement, Republic received a corresponding right to "call" up to 15 ERJ-145 aircraft (with the US Airways "put" rights being reduced pro-rata for each aircraft called). Translation: Republic/Chautauqua may choose to reallocate up to 15 ERJ-145 jets away from US Airways Express if they find other opportunities.

* Republic will collect rent on the commuter slots held in trust for US Airways.

* US Airways may only choose to "put" ten of the 15 ERJ-145's if they do NOT draw on both the emergence investment of $125 million AND the asset liquidity facility of $110 million.

* The asset liquidity facility of $110 million includes substantially all assets involved in the operation of Midatlantic as well as the DCA & LGA commuter slots.

And, FYI, the first name of the CEO of Republic is "Bryan."
 
SFB:

Thanks for providing us with more information on today's call.

By the way, let me ask you a question. Is there a difference from omitting written information that you can cut and paste from that which has to be taken from a teleconference, written down, and then transcribed? Moreover, how easy is it to write a quote verbatim and simultaneously try to keep up and focus on every comment/spoken word?

For me it's pretty tough, but I'm glad you are much better than I am at this.

Regards,

USA320Pilot
 
sfb said:
Certain individuals claim not to omit important information from their postings, but there were a few points which were left out of the preceding "key points":

[post="255908"][/post]​

It never ceases to amaze me how he can do this over and over as his standard mode of operation then accuse others of the doing the same saying they "mislead people " "did not post all of the facts" and that it leads directly to "a lack of integrity" yet his omissions and indiscretions should be overlooked by all others.
 
sfb said:
* Republic will collect rent on the commuter slots held in trust for US Airways.

Another addition to the expense line!

I seem to recall that US Airways will also have a right to repurchase the slots from the trust at some point, I don't recall that point as being defined.
 
UVN:

At least some people listened to the call and provided information, versus others who simply try to be antagonistic and insult people. It must be tough living your life with so much negativity, like others such as Lark, 700UW, Clue, and Funguy2. What I do not understand is that if US Airways is such a bad place why spend so much time on this board and for those who work at the company, why not do something else.

If you ask me life is too short to be angry all the time and it is truly pitiful to hang around such negativity.

Regards,

USA320Pilot
 
USA320Pilot said:
UVN:

If you ask me ...........  and it is truly pitiful to hang around such negativity.  

Regards,

USA320Pilot
[post="255921"][/post]​

No one has; then why are you still here?

On another note, Lark is not negative -- objective, yes, amused, yes, negative, no.

:lol: :lol: :lol: :lol: :lol:
 
Just one more point...Bruce Lakefield told the MEC last week the company is focusing on short-term versus long-term decisions. These decisions may not be the best for the long-term, but are quick and thoughtful and are necessary for survival.

Regards,

USA320Pilot
 
320 you act like a child.

You have been proven wrong time after time after time, you don't even stand behind you own words.

You are a management wannabe being used.

Get a serious dose of reality, when you have 99% of the board saying the samething about you, it has creedence.

You have no credibility.

Accept reality.