WingNaPrayer
Veteran
Republic Airways Holdings Inc. (RJET) announced that its Chautauqua Airlines subsidiary has reached agreement with AMR Corp. (AMR), to amend its services agreement.
Key commercial terms of the amendment include the reduction of aircraft operating under the agreement, as of June 2009, from 15 to 13 E140 regional jets.
The amendment deal also include a reduction of approximately 3% of the reimbursement rates received by Chautauqua for its services performed under the agreement, effective April 1, 2009. An extension of the date on which American may early terminate the agreement by three years, from March 2009 to March 2012.
Key commercial terms of the amendment include the reduction of aircraft operating under the agreement, as of June 2009, from 15 to 13 E140 regional jets.
The amendment deal also include a reduction of approximately 3% of the reimbursement rates received by Chautauqua for its services performed under the agreement, effective April 1, 2009. An extension of the date on which American may early terminate the agreement by three years, from March 2009 to March 2012.
