Republic Airways Holdings Inc., the parent of Republic Airline, one of the largest independent regional airlines in the United States, announced today that the Honorable Judge Sean Lane of the United States Bankruptcy Court for the Southern District of New York has approved Republic’s Plan of Reorganization and has entered an order to that effect. Today’s decision sets in motion a process by which the Company expects to emerge from Chapter 11 as a private company before the end of April.
“I want to thank our Associates for never wavering in their commitment to our vision and mission throughout this challenging process,” said Bryan Bedford, Republic’s president and chief executive officer. “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 by delivering outstanding operational reliability to our major airline partners, excellent customer service to our guests on board our aircraft, and maximizing future value for all our stakeholders.”
On Feb. 25, 2016, the Company filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code. The cases have been pending before the Honorable Judge Sean Lane under Case No. 16-10429.
Zirinsky Law Partners PLLC and Hughes Hubbard & Reed LLP served as Republic’s legal advisors in the restructuring. Seabury Group LLC served as financial advisor. More information about Republic’s restructuring is available online at http://cases.primeclerk.com/RJET.