Restructuring efforts at Frontier Airlines and Chautauqua Airlines have helped parent Republic Airways Holdings (RAH) to post a net profit of $34.9 million in 2012 reversing a net loss of $90.6 million in 2011.
Revenue at RAH, which also owns Republic Airlines and Shuttle America, dipped by nearly 2% to $2.81 billion but expenses also dropped by a substantial 12.5% to $2.6 billion. The firm’s operating income was $212 million – a substantial improvement on the $105.6 million operating deficit reported in 2011.
Revenues at Republic Airlines fell by 10.2% to $1.38 billion due to a drop in passenger traffic. RPMs fell by 5.3% to 10.12 billion on the back of a 7% fall in capacity to 13.43 billion ASMs. Load factor increased by1.3 percentage points to 75.3%.
Frontier had a better year with revenue picking up by 7% to $1.42 billion and passenger traffic increasing by 3% to 10.58 billion RPMs. Capacity was up 1.1% at the airline with 11.91 billion ASMs and a load factor of 88.8%.
Profit posted by Republic Airways Holdings
