REPUBLIC AIRWAYS HOLDINGS INC.

Listed Company

RJETCIK 0000810332NasdaqNon-AcceleratedAir Transportation, ScheduledDelawareFY ends Dec 31

Period

FY 2025

Revenue

$1.68B

Net Income

$76.20M

Total Assets

$3.28B

Equity

$1.33B

Shares Out

46.83M

Op. Cash Flow

$322.00M

Business

REPUBLIC AIRWAYS HOLDINGS INC. operates as the holding company of Mesa Airlines, a regional air carrier that provides scheduled passenger and cargo flight services under contract with major carriers. It offers passenger regional flying, cargo operations, aircraft leasing and sales, a pilot development program, and parts inventory management and maintenance outsourcing. Its key business units include contract flying under the United capacity purchase agreement, the Mesa Pilot Development program, and MAG‑AIM parts management. Services are distributed through major airline partners and third‑party leases across 67 cities in 34 U.S. states, Mexico and Cuba.

Summary from filing dated 2025-05-14

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2024 2024-09-30	FY 2023 2023-12-31	FY 2023 2023-09-30
REVENUES	1,677	1,474	—	1,429	—
Wages and benefits	763	677	—	655	—
Aircraft and engine rent	700,000	4	8	6	6
Depreciation and amortization	126	117	—	159	—
Executive separation and Merger-related items (Note 4)	47	3	—	300,000	—
Total operating expenses	1,508	1,337	542	1,294	582
OPERATING INCOME	168	137	−66	135	−84
Investment income and other, net	6	8	—	2	—
Interest expense	−61	−58	−38	−49	−50
Total other expense, net	−55	−50	−25	−47	−45
INCOME BEFORE INCOME TAXES	113	87	−90	88	−129
INCOME TAX EXPENSE	37	22	519,000	33	−9
NET INCOME	76	65	−91	55	−120
NET INCOME PER COMMON SHAREBASIC (in dollars per share)	1.9	1.65	−2.21	1.4	−3.04
NET INCOME PER COMMON SHAREDILUTED (in dollars per share)	1.87	1.62	−2.21	1.38	−3.04
WEIGHTED AVERAGE COMMON SHARES OUTSTANDINGBASIC (in shares)	40	39	41	39	39
WEIGHTED AVERAGE COMMON SHARES OUTSTANDINGDILUTED (in shares)	41	40	41	40	39

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2024 2024-09-30	FY 2023 2023-12-31	FY 2023 2023-09-30
Cash and cash equivalents	134	111	16	—	33
Marketable securities	162	192	—	—	—
Restricted cash	23	21	3	—	3
Inventories	89	63	—	—	—
Total current assets	541	453	61	—	139
Property and equipment, net	2,410	2,110	426	—	698
Operating lease right-of-use assets	132	123	7	—	10
Goodwill	123	2	—	2	—
TOTAL ASSETS	3,277	2,768	597	—	898
Current portion of long-term debt and finance leases	202	260	50	—	164
Current portion of operating lease liabilities	17	14	2	—	4
Accrued and other liabilities	220	169	—	—	—
Total current liabilities	574	489	174	—	268
Long-term debt and finance leases less current portion	883	752	260	—	365
Operating lease liabilities less current portion	124	118	7	—	8
Deferred income taxes	221	206	8	—	8
Total liabilities	1,948	1,652	487	—	698
COMMITMENTS AND CONTINGENCIES (Notes 12 and 13)	—	—	—	—	—
Restricted stock units (RSUs), zero and 2,892,094 authorized; zero and 102,901 shares issued and outstanding, respectively	0	6	—	5	—
Common stock, $0.001 par value, 5,000,000,000 shares authorized; 45,713,286 and 38,993,300 shares issued and outstanding, respectively	0	0	—	—	—
Additional paid-in capital	620	478	—	—	—
Accumulated earnings	709	633	−162	—	−71
Total shareholders equity	1,329	1,111	110	1,046	200
TOTAL LIABILITIES, MEZZANINE EQUITY, AND SHAREHOLDERS EQUITY	3,277	2,768	597	—	898

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2024 2024-09-30	FY 2023 2023-12-31	FY 2023 2023-09-30
Deferred income taxes	34	17	—	29	—
Stock-based compensation expense	20	1	1	2	2
Inventories	400,000	−2	−1	5	−3
NET CASH PROVIDED BY OPERATING ACTIVITIES	322	226	34	329	−24
Purchase of property and equipment	−397	−227	—	−378	—
Proceeds from insurance, sale of property, and other equipment	700,000	86	—	134	—
Pre-delivery deposits paid	−14	−33	—	−14	—
Cash acquired in connection with the Merger	23	0	—	0	—
Purchases of marketable securities and investments	−176	−187	—	−283	—
Proceeds from the sale of marketable securities	213	255	—	120	—
NET CASH USED IN INVESTING ACTIVITIES	−351	−106	149	−421	142
Proceeds from issuance of debt	299	177	—	477	—
Payments on debt and finance lease obligations	−232	−240	—	−260	—
Payments on early debt extinguishment	0	−37	−922,000	−101	—
Payments for U.S. Treasury Warrant redemption	−1	0	—	0	—
Taxes paid for the net share settlement of restricted stock units	−9	0	−138,000	−200,000	−363,000
Other, net	−3	−2	—	−8	—
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	55	−102	−200	107	−143
NET CHANGES IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	26	18	−17	15	−25
Interest, net of capitalized amounts	59	56	31	44	38
Income taxes, net of refunds	3	6	—	3	419,000
Non-cash Merger purchase consideration (Note 3)	120	0	—	0	—
Property and equipment acquired, but not paid	13	8	—	15	196,000
Parts credits used from aircraft and engine manufacturers	0	500,000	—	0	—

Filings

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