Republic Airways Holdings, the parent of Republic Airline, one of the largest independent regional airlines in the United States, announced 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.
This 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 onboard 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