0001159154-14-000052.txt : 20140709 0001159154-14-000052.hdr.sgml : 20140709 20140709165523 ACCESSION NUMBER: 0001159154-14-000052 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20140709 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20140709 DATE AS OF CHANGE: 20140709 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: 14967699 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 updatedguidanceq22014.htm 8-K Updated Guidance Q2 2014


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): July 9, 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 2.02    Results of Operations and Financial Condition.

On July 9, 2014, Republic Airways Holdings Inc. issued a press release announcing certain preliminary operating results for the second quarter ended June 30, 2014 and updating its second quarter guidance. A copy of the press release is furnished as Exhibit 99.1 and is incorporated herein by reference.

The information in this Form 8-K is being furnished under Item 2.02 and shall not be deemed to be filed for the purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”), or otherwise subject to the liabilities of such section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
    
Forward Looking Information

Statements regarding the Company’s operational and financial success, business model, expectations about future success, competitive environment, improved operational performance and our ability to maintain or improve our low costs are forward-looking statements and are not historical facts. Instead, they are estimates or projections involving numerous risks or uncertainties, including but not limited to, consumer demand and acceptance of services offered by the Company, the Company’s ability to maintain current cost levels, and actions by competitors, regulatory matters and general economic conditions. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained from time to time in the Company’s SEC filings, including but not limited to the Company’s annual report on Form 10-K for the year ended December 31, 2013, or as supplemented in the Company’s subsequently filed periodic reports. The Company disclaims any obligation or duty to update or correct any of its forward-looking statements.

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

99.1    Press Release of Republic Airways Holdings Inc. issued on July 9, 2014.

(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: July 9, 2014






EXHIBIT INDEX
Exhibit Number    Description
99.1    Press Release of Republic Airways Holdings Inc. issued on July 9, 2014.



EX-99.1 2 updatedguidancepressrelease.htm PRESS RELEASE UPDATED GUIDANCE Updated Guidance Press Release


For Immediate Release:



Republic Airways Holdings reports June 2014 traffic
and updates 2nd quarter 2014 financial guidance

Indianapolis, Indiana (July 9, 2014) - Republic Airways Holdings Inc. (NASDAQ/NM: RJET) today reported preliminary passenger traffic results for June 2014 and updated its 2nd quarter 2014 financial guidance.

The Company generated more than 1 billion revenue passenger miles (RPMs) in June, a 16% increase over the same period in 2013, on a 13% increase in available seat miles (ASMs). Block hours increased 5%, and the load factor increased two percentage points from the same period in 2013. The Company continues to replace smaller regional jets with larger capacity E175s. Republic Airways carried more than 2 million passengers, an 8% increase compared to June 2013.

 
June
 
2014
2013
 
 
Total
Total
Change
RPMs (000s)
1,036,653

896,734

16
 %
ASMs (000s)
1,257,099

1,109,748

13
 %
Block Hrs
64,901

62,008

5
 %
LF %
82.5
%
80.8
%
2 pts

Passengers
2,023,355

1,867,806

8
 %
Departures
36,121

36,467

-1
 %

 
Quarter to Date
 
2014
2013
 
 
Total
Total
Change
RPMs (000s)
3,035,968

2,618,701

16
 %
ASMs (000s)
3,714,947

3,338,175

11
 %
Block Hrs
191,748

187,087

2
 %
LF %
81.7
%
78.4
%
3 pts

Passengers
5,899,696

5,505,182

7
 %
Departures
106,499

110,399

-4
 %

 
Year to Date
 
2014
2013
 
 
Total
Total
Change
RPMs (000s)
5,601,606

4,913,161

14
 %
ASMs (000s)
7,081,209

6,505,897

9
 %
Block Hrs
377,361

364,666

3
 %
LF %
79.1
%
75.5
%
4 pts

Passengers
11,038,416

10,285,323

7
 %
Departures
209,848

213,023

-1
 %







The Company’s updated financial guidance for the 2nd quarter 2014 is as follows:

 
Previous
Revised
($ in millions, except per share amounts)
2Q 2014 Guidance
2Q 2014 Guidance
Operating revenues
$340 to $350
no change
Pre-tax margin %
7.5% to 8.5%
8.5% to 9.5%
Diluted earnings per share
$0.30 to $0.35
$0.35 to $0.40
Unrestricted cash
$250 to $255
~ $260

In addition to historical information, this release contains forward-looking statements. Republic Airways Holdings Inc. may, from time to time, make written or oral forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements encompass Republic Airways' beliefs, expectations, hopes or intentions regarding future events. Words such as “expects,” “intends,” “believes,” “anticipates,” “may,” “will,” “should,” “plan,” “estimate,” “predict,” “potential,” “continue,” or “likely” and similar expressions as well as the negative of such expressions are used to identify forward-looking statements. All forward-looking statements included in this release are made as of the date hereof and are based on information available to Republic Airways as of such date. Republic Airways assumes no obligation to update any forward-looking statement. Actual results may vary, and could differ materially, from those anticipated, estimated, projected or expected in these forward-looking statements for a number of reasons, including, among others, the risk factors disclosed in the Company's most recent filing with the Securities and Exchange Commission.
Republic Airways Holdings Inc., based in Indianapolis, Indiana, is an airline holding company that owns Chautauqua Airlines, Republic Airlines and Shuttle America, collectively called “the airlines.” The airlines operate a combined fleet of about 240 aircraft and offer scheduled passenger service on about 1,300 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 about Republic Airways, please visit our website at www.rjet.com.

 
Contact: Scott Thien
Republic Airways Holdings
(317) 471-2470
scott.thien@rjet.com

# # #