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theaveragejoe

Republic Airways will acquire 53 Embraer E-175 for Amercian Eagle contract

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FORT WORTH, Texas, Jan. 24, 2013 /PRNewswire/ -- American Airlines announced today that it has signed a 12-year capacity purchase agreement with Republic Airways Holdings to provide large regional jet flying for the first time in the company's history. This agreement, which is subject to court approval, was enabled by the new pilot contract. It is designed to offer customers more choices with the right-size aircraft to match market demand, strengthen service from American's hubs and diversify its partnership with regional carriers.

 

"This is a significant milestone in our company's history," said Chuck Schubert, American's Vice President – Network Planning. "Establishing a large regional jet fleet has long been part of our business plan and this agreement is another example of how we are executing on that plan in a way that benefits our business and our customers. We will offer more flights at the right intervals throughout the day in key markets while providing more opportunities for customers to travel in the First Class cabin to key business markets."

 

Through the agreement, Republic Airways will acquire 53 Embraer E-175 jets featuring a two-class cabin with 12 First Class seats and 64 seats in the Main Cabin.

 

The aircraft, which will be branded with the newly revealed American Eagle livery and operated by the Republic Airlines subsidiary of Republic Airways Holdings, will phase into operation at approximately two to three aircraft per month beginning in mid-2013. All 53 aircraft are expected to be in operation by the first quarter of 2015.

 

The new agreement will further enhance and strengthen American's relationship with Republic Airways, a longtime partner of American Airlines and the largest operator of large Embraer jets. Republic's Chautauqua Airlines subsidiary operates regional jet service for American from its hub at Chicago O'Hare with 15 Embraer E-140 aircraft.

 

http://aa.mediaroom.com/index.php?s=43&item=3618

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Republic Airways, American Airlines Sign

Long-term Agreement

 

 

 

Republic to acquire 53 Embraer E175 jet aircraft

 

INDIANAPOLIS--(BUSINESS WIRE)--Jan. 24, 2013--

Republic Airways Holdings

Inc. (NASDAQ: RJET/NM) today announced that it has reached an agreement

with American Airlines to operate 53 Embraer E175 aircraft under the

American Eagle brand. The Capacity Purchase Agreement (CPA) will be operated by

the Company's Republic Airlines subsidiary, with service expected to

start in June of 2013. The CPA is subject to approval by the Bankruptcy

Court in the American Airlines bankruptcy proceedings.

 

"We are thrilled that American has selected Republic and the

Embraer E175 to expand their network with large regional jets," said

Republic Chairman, President and CEO Bryan Bedford.

"The Embraer E175 is an outstanding aircraft and the interior design American

has selected will provide a world-class, seamless product for their customers

flying on Republic."

 

"Establishing a large regional jet fleet has long been part of our business

plan," said Chuck Schubert, American's vice president - Network

Planning, "and this agreement is another example of how we are executing on that

plan in a way that benefits our business and our customers."

 

Republic also signed an agreement with Embraer to purchase 47 new

aircraft and lease a previously owned Embraer E175 jet aircraft, including the

first deliveries of Embraer's enhanced fuel performance aircraft. In addition,

the Company will acquire five previously owned E175s from a third party.

 

The aircraft, which will seat 76 passengers in a two-class cabin, are

expected to be phased into operation at approximately two to three aircraft per

month beginning in mid-2013 through the first quarter of 2015. Each aircraft

will operate under the CPA for 12 years from its in-service date, extending the

term of the agreement into 2027.

 

Republic's contract with Embraer also includes an option with delivery

positions exercisable beginning in 2015, for the purchase of an additional 47

aircraft.

 

"It is significant that our long-time, valued customer Republic Airways - a true

innovator in the regional transport business - is the first customer for the

enhanced E175," said Paulo Cesar Silva, President and CEO,

Embraer Commercial Aviation. "It's a perfect example of how our

investments in product development make our customers more competitive in their

markets."

 

http://phx.corporate-ir.net/phoenix.zhtml?c=131107&p=irol-newsArticle&ID=1777459&highlight=

Edited by theaveragejoe

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