October 29, 2026 — Republic Airways (YX), the regional carrier that flies for American, Delta and United, quintupled its third-quarter profit after absorbing Mesa, and raised its full-year earnings outlook.
What happened
Republic reported its July–September results on Thursday, October 29. CEO Matt Koscal said revenue rose “34%” with strong profit margins. The company is less than a year into its merger with Mesa, which closed on November 25, 2025.
| Measure | Q3 2026 | Q3 2025 |
|---|---|---|
| Revenue | $553.5 million (+34.3%) | $412.0 million |
| Operating income | $63.2 million (11.4% margin) | $26.9 million |
| Net income | $34.6 million | $6.7 million |
| Block hours | 215,979 (+26.2%) | — |
| Departures | 114,876 (+23.5%) | — |
| Completion factor | 94.59% (controllable: 99.96%) | 95.92% |
Fleet
- 314 aircraft at September 30: 275 operating and 39 non-operating. The operating fleet is 24 Embraer E170s and 251 E175s.
- By partner: 92 aircraft fly for American, 57 for Delta and 126 for United.
- The fleet grew by 66 aircraft in a year, including 60 United-owned E175s flown by Mesa and six new Embraer deliveries.
- Five E170s that had no assignment will start flying for American in December 2026.
- Republic has 26 E175s on firm order for delivery from 2028 through 2030.
Mesa integration
- Core support functions and Mesa’s operations center have moved to Carmel, Indiana.
- Work with the FAA to align procedures is on track, with the goal of a single operating certificate.
- Republic expects integration to finish in the first half of 2028.
Outlook for 2026
- Adjusted EBITDAR raised to $410–$420 million, from $395–$405 million.
- Adjusted diluted earnings per share above $3.30 (new guidance).
- Unchanged: revenue of about $2.1 billion and about 880,000 block hours.
What it means for non-revs
- More regional seats on American in December. Five more E170s join American’s regional flying in December 2026. The release does not say which routes they will fly.
- Weather and outside factors cost more flights. Overall completion slipped to 94.59% from 95.92%, while Republic’s controllable completion was 99.96%. Most cancellations were outside the airline’s control, so in bad weather have a backup plan on Republic-operated flights.
- Former Mesa flying is now Republic flying. The 60 United E175s operated by Mesa are part of Republic’s count, and the two operations are working toward one certificate by the first half of 2028.
- No labor or hiring news. The release mentions pilot attrition and labor costs only as general risks.
Sources
- StockTitan (Republic Airways news release) — Republic Airways Announces Third Quarter 2026 Financial Results
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