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Republic Airways Holdings Inc (RJETQ) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2012

Republic Airways Holdings Inc

CIK: 1159154 Ticker: RJETQ


For Immediate Release:
        
Contact: Margaret Miller
Republic Airways Holdings
Tel. (317) 246-2628


Republic Airways Holdings Reports Quarterly and Full Year 2012 Net Income
    
Indianapolis, Indiana (February 27, 2013)
- Republic Airways Holdings Inc. (NASDAQ/NM: RJET) today reported full year 2012 net income of $51.3 million, or $1.02 per diluted share, a $203.1 million improvement from our full year 2011 results of a net loss of $151.8 million, or $3.14 per diluted share. The Company also reported fourth quarter 2012 net income of $12.6 million, or $0.25 per diluted share, a $136.1 million improvement over the fourth quarter 2011 net loss of $123.5 million, or $2.55 per diluted share.

“We're pleased with the solid financial improvement we experienced in 2012,” said Republic Airways Holdings Chairman, President and CEO Bryan Bedford. “Our restructuring efforts in 2011 laid the foundation for Frontier to return to profitability in 2012, despite higher fuel costs. Our 50-seat RJ restructuring effort completed last October enabled us to return all of our idled aircraft to fixed-fee service with our partners and significantly reduced the financial burden associated with our Chautauqua operation.”

The Company incurred the following items in 2012:
Segment
Pre-tax amount
Period
    Loss on sale of E190s
Republic
$11.2 million
3Q-12
    Gain on sale of slots
Republic
($8.3) million
3Q-12
    Professional and legal fees related restructuring
Republic
$4.3 million
4Q-12
    Restructuring and fleet transition expenses
Frontier
$15.5 million
4Q-12
    Frequent flyer adjustment to passenger revenue
Frontier
($9.8) million
4Q-12
 
 
 
 
The Company incurred the following items in 2011:
Segment
Pre-tax amount
Period
    Fleet transition expenses
Republic
$9.1 million
4Q-11
    Impairment of fleet asset values
Republic
$191.1 million
4Q-11
    Fleet transition expenses
Frontier
$32.3 million
4Q-11

Note: The amounts reported below for pre-tax income (loss) and net income (loss) exclude the impact of the items listed above. Please refer to the schedules at the end of this release for a tabular reconciliation of the Company's GAAP pre-tax and after tax income (loss) to the ex-tem pre-tax and after-tax income (loss) and diluted earnings per share.

Consolidated Results (ex-items)
Excluding the items listed above, the Company reported 2012 full year net income of $59.0 million, or $1.15 per diluted share, as compared to a 2011 full year net loss of $6.2 million, or $0.13 per diluted share. For the fourth quarter of 2012 the Company reported net income of $18.5 million, or $0.35 per diluted share, as compared to the fourth quarter 2011 net income of $20.7 million, or $0.41 per diluted share.

Business Segment Presentation
The Company has adjusted its presentation of business segments in 2012 and has revised the prior year's information to conform to the current period segment presentation. Reportable segments now consist of Republic and Frontier. The Republic segment includes all regional flying performed by sub-100-seat aircraft operating under either fixed-fee or pro-rate agreements, subleasing activities, regional charter operations as



The following information was filed by Republic Airways Holdings Inc (RJETQ) on Thursday, February 28, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside this 10-K Annual Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets Parenthetical
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Income (loss)
Condensed Consolidated Statements Of Operations
Consolidated Statement Of Stockholders' Equity And Comprehensive Income
Consolidated Statement Of Stockholders' Equity And Comprehensive Income Stockholders Equity Parenthetical
Accrued Liabilities
Aircraft And Other Equipment
Assets Held For Sale
Capital Stock And Stock Options
Commitments
Contingencies
Debt
Fair Value Measurement
Income Taxes
Note 1 - Organization And Business Level 3 (tables)
Note 1 - Organization And Business Schedule Of Aircraft (details)
Note 1 - Organization And Business Statements (details)
Note 10 - Contingencies Statement (details)
Note 11 - Capital Stock And Stock Options Common Stock Outstanding Rollforward (details)
Note 11 - Capital Stock And Stock Options Level 3 (tables)
Note 11 - Capital Stock And Stock Options Restricted Stock (details)
Note 11 - Capital Stock And Stock Options Share-based Compensation (details)
Note 11 - Capital Stock And Stock Options Share-based Payment Award, Stock Options, Valuation Assumptions (details)
Note 12 - Income Taxes Deferred Taxes (details)
Note 12 - Income Taxes Income Tax Expense (benefit) (details)
Note 12 - Income Taxes Income Tax Reconciliation (details)
Note 12 - Income Taxes Level 3 (tables)
Note 12 - Income Taxes Statements (details)
Note 12 - Income Taxes Unrecognized Tax Benefits (details)
Note 12 - Income Taxes Valuation Allowance (details)
Note 13 - Retirement And Benefit Plans Defined Contribution Plan Statement (details)
Note 13 - Retirement And Benefit Plans Level 3 (tables)
Note 13 - Retirement And Benefit Plans Qualifed Defined Benefit Plan (details)
Note 13 - Retirement And Benefit Plans Statements (details)
Note 14 - Operating Segment Information Level 3 (tables)
Note 14 - Operating Segment Information Segment Reporting (details)
Note 15 - Valuation And Qualifying Accounts Level 3 (tables)
Note 15 - Valuation And Qualifying Accounts Valuation Allowance For Doubtful Accounts And Notes Receivable (details)
Note 16 - Subsequent Events Commitments Table (tables)
Note 16 - Subsequent Events Statement (details)
Note 16 - Subsequent Events Unrecorded Unconditional Purchase Obligations(details)
Note 2 - Summary Of Significant Accounting Policies Level 2 (policies)
Note 2 - Summary Of Significant Accounting Policies Level 3 (tables)
Note 2 - Summary Of Significant Accounting Policies Level 4 (details)
Note 2 - Summary Of Significant Accounting Policies Net Income Per Common Share (details)
Note 2 - Summary Of Significant Accounting Policies Restricted Cash Table (details)
Note 2 - Summary Of Significant Accounting Policies Supplemental Statement Of Cash Flows (details)
Note 3 - Fair Value Measurement Company Fair Value Expense (benefit) (details)
Note 3 - Fair Value Measurement Fair Value By Balance Sheet Grouping (details)
Note 3 - Fair Value Measurement Level 3 (tables)
Note 3 - Fair Value Measurement Level 4 Fair Value Of Assets Measured On Recurring And Nonrecurring Basis(details)
Note 3 - Fair Value Measurement Statements (details)
Note 4 - Assets Held For Sale Details (details)
Note 4 - Assets Held For Sale Level 3 (tables)
Note 5 - Aircraft And Other Equipment Level 3 (tables)
Note 5 - Aircraft And Other Equipment Level 4 (details)
Note 5 - Aircraft And Other Equipment Statement (details)
Note 6 - Other Intangible Assets Level 3 (tables)
Note 6 - Other Intangible Assets Level 4 Intangible Assets Table (details)
Note 6 - Other Intangible Assets Statement (details)
Note 7 - Accrued Liabilities Level 3 (tables)
Note 7 - Accrued Liabilities Level 4 (details)
Note 8 - Debt Future Maturities (details)
Note 8 - Debt Level 3 (tables)
Note 8 - Debt Level 4 (details)
Note 8 - Debt Statement (details)
Note 9 - Commitments Level 3 (tables)
Note 9 - Commitments Operating Lease Payments (details)
Note 9 - Commitments Schedule Of Rent Expense (details)
Note 9 - Commitments Statement (details)
Note 9 - Commitments Unrecorded Unconditional Purchase Committments (details)
Operating Segment Information
Organization And Business
Other Intangible Assets
Retirement And Benefit Plans
Subsequent Events
Summary Of Significant Accounting Policies
Valuation And Qualifying Accounts

Material Contracts, Statements, Certifications & more

Republic Airways Holdings Inc provided additional information to their SEC Filing as exhibits

Ticker: RJETQ
CIK: 1159154
Form Type: 10-K Annual Report
Accession Number: 0001159154-13-000018
Submitted to the SEC: Fri Mar 15 2013 8:47:28 AM EST
Accepted by the SEC: Fri Mar 15 2013
Period: Monday, December 31, 2012
Industry: Air Transportation Scheduled

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