0001159154-14-000029.txt : 20140407 0001159154-14-000029.hdr.sgml : 20140407 20140407161737 ACCESSION NUMBER: 0001159154-14-000029 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20140407 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20140407 DATE AS OF CHANGE: 20140407 FILER: COMPANY DATA: COMPANY CONFORMED NAME: REPUBLIC AIRWAYS HOLDINGS INC CENTRAL INDEX KEY: 0001159154 STANDARD INDUSTRIAL CLASSIFICATION: AIR TRANSPORTATION, SCHEDULED [4512] IRS NUMBER: 061449146 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-49697 FILM NUMBER: 14748813 BUSINESS ADDRESS: STREET 1: 8909 PURDUE ROAD STREET 2: SUITE 300 CITY: INDIANAPOLIS STATE: IN ZIP: 46268 BUSINESS PHONE: 317-484-6000 MAIL ADDRESS: STREET 1: 8909 PURDUE ROAD STREET 2: SUITE 300 CITY: INDIANAPOLIS STATE: IN ZIP: 46268 8-K 1 shareholdervalue.htm 8-K Shareholder Value


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
Form 8-K
 
CURRENT REPORT
 
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
 
 
Date of Report (Date of earliest event reported): April 7, 2014
 
Republic Airways Holdings Inc.
(Exact name of registrant as specified in its charter)
 
Delaware
(State or other jurisdiction of incorporation)
 
000-49697 06-1449146
(Commission File Number) (IRS Employer Identification No.)

 
8909 Purdue Road
Suite 300
Indianapolis, IN 46268
(Address of principal executive offices) (Zip Code)
 
Registrant’s telephone number, including area code (317) 484-6000
 
None.
(Former name or former address, if changed since last report.)
 
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o     Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o     Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o     Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 





Item 8.01    Other Events

On April 7, 2014, Republic Airways Holdings Inc. (the "Company") announced that its Board of Directors has authorized Company management to utilize up to $75 million of unrestricted cash to buy back common shares and/or early retire convertible debt during the next 12 months. Under the $75 million authorization, the Company may repurchase up to $50 million of common shares and early retire up to $50 million of convertible notes, or any combination thereof.

Item 9.01    Financial Statements and Exhibits .
    
(d)    Exhibits.

99.1    Press Release of Republic Airways Holdings Inc. issued on April 7, 2014, relating to the plan for shareholder returns.

(All other items on this report are inapplicable.)





SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


REPUBLIC AIRWAYS HOLDINGS INC.
By:    /s/ Timothy P. Dooley    
Name:    Timothy P. Dooley
Title:
Executive Vice President and Chief Financial Officer

Dated: April 7, 2014





EXHIBIT INDEX
Exhibit Number    Description
99.1    Press Release of Republic Airways Holdings Inc. issued on April 7, 2014, relating to the plan for shareholder returns.



 EX-99.1 2 republicairwaysshareholder.htm EXHIBIT RepublicAirwaysShareholderPlan



For Immediate Release:

Contact:    Scott Thien
Republic Airways Holdings
(317) 471-2470


Republic Airways’ Board of Directors Approves Plan for Shareholder Returns

Indianapolis, Indiana (April 7, 2014) – Republic Airways Holdings Inc. (NASDAQ/NM: RJET) today announced that its Board of Directors has authorized Company management to utilize up to $75 million of unrestricted cash to buy back common shares and/or early retire convertible debt during the next 12 months. Under the $75 million authorization, the Company may repurchase up to $50 million of common shares and early retire up to $50 million of convertible notes, or any combination thereof.

“With the results of last week’s pilot vote, we must now face the reality that our near-term growth prospects are limited, and consequently we no longer require the same level of cash reserves to invest in additional new regional jet aircraft,” said Republic Airways Chairman, President and Chief Executive Officer Bryan Bedford. “The board’s action effectively will allow us to return to our shareholders the net proceeds from the sale of Frontier Airlines last December.”

“While the lack of additional growth prospects is disappointing, our near-term financial outlook will significantly improve,” said Tim Dooley, Republic’s Executive Vice President and Chief Financial Officer. “A reduction in forecasted operating expenses for the remainder of 2014, combined with fewer dilutive shares going forward, will have a meaningful positive impact on our 2014 earnings per share. We look forward to sharing updated guidance for 2014 during our first quarter earnings call.”

Republic Airways Holdings, based in Indianapolis, Indiana, is an airline holding company that owns Chautauqua Airlines, Republic Airlines and Shuttle America, collectively “the airlines.” The airlines operate a combined fleet of about 250 aircraft and offer scheduled passenger service on over 1,350 flights daily to about 110 cities in the U.S., Canada and the Bahamas through fixed-fee flights operated under our major airline partner brands, including American Eagle, Delta Connection, United Express, and US Airways Express. The airlines currently employ about 6,300 aviation professionals. For more information on Republic Airways, visit the Company’s website at www.rjet.com.

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