The Transaction Is Complete...

[ASH]

Now who's gonna fly 'em??

Press Release Source: Republic Airways Holdings Inc.

Republic Airways Completes Purchase of Embraer 170 Aircraft and Slot Assets from US Airways Group
Thursday September 22, 4:40 pm ET

INDIANAPOLIS--(BUSINESS WIRE)--Sept. 22, 2005--Republic Airways Holdings Inc. (NASDAQ:RJET - News) announced today the purchase of certain Embraer regional jet aircraft and slot assets from US Airways Group. The net purchase price for the transaction completed today was approximately $90 million. These purchases are part of a multi-part agreement with US Airways that was announced in March 2005.

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A summary of the transaction, as well as future transactions under the US Airways agreement, follows:

Slots Transaction

Republic purchased 113 commuter slots at Ronald Reagan Washington National Airport and 24 commuter slots at New York LaGuardia Airport. The purchase price for all of the slots was $51.6 million. The slots will be leased back to US Airways and will continue to be operated by US Airways Express carriers.

Aircraft Transactions

Republic purchased 10 Embraer 170 aircraft owned by US Airways for a net purchase price of $38.2 million. Republic also assumes debt totaling $168.7 million. These 10 aircraft will initially be leased back to US Airways until they are transferred to Republic Airlines under a recently executed, 10-year Jet Services Agreement. In addition to these aircraft, Republic will assume the leases of 15 Embraer 170 aircraft, which will also be operated by its Republic Airline subsidiary. The transition of all 25 aircraft is expected to be complete by September 2006. Republic Airlines currently operates three Embraer 170 aircraft on behalf of US Airways.

Other Assets

Republic also plans to purchase other Embraer 170 assets from US Airways including a flight simulator and spare parts. The purchase of these assets is expected to be completed in the next few weeks.

The total purchase price for all assets under the US Airways agreement is approximately $100 million.

Republic Airways Holdings, based in Indianapolis, Indiana is an airline holding company that operates Chautauqua Airlines, Republic Airlines and Shuttle America. The company offers scheduled passenger service on more than 840 flights daily to 85 cities in 34 states, Canada and the Bahamas through airline services agreements with four major U.S. airlines. All of its flights are operated under its major airline partner brand, such as AmericanConnection, Delta Connection, United Express and US Airways Express. The airline currently employs more than 3,000 aviation professionals and operates 131 aircraft including 31 Embraer 170 aircraft. IP: Logged

 

[UseYourHead]

I have a feeling there will be a line around the block of people willing to fly these airplanes.

I hope the grievance is settled in favor of the employees.

Now who's gonna fly 'em??

Please DO NOT quote an entire previous thread to add a couple of lines. Thanks. -Mod.

[post="304131"][/post]​

 

[xoxo]

Wow..I guess it's all over now that an express carrier can fly what should be a mainline a/c. Now that they have done that..I wonder how many other EXPRESS carriers will start flying the 190's and or airbus's..it will eventually happen. My opinion.

 

[MAABoss]

US AIRWAYS COMPLETES SALE OF AIRCRAFT
AND SLOT ASSETS TO REPUBLIC AIRWAYS

ARLINGTON, Va., Sept. 22, 2005 -- US Airways Group, Inc. has today completed the sale of certain Embraer regional jet aircraft and slot assets to Republic Airways Holdings, generating approximately $90 million in liquidity for US Airways as it completes its Chapter 11 restructuring and merger with America West Airlines. The regional jets and the slots will continue to operate as US Airways Express.

Under the terms of the asset sale agreement, Republic will purchase or assume the leases of 25 Embraer 170 aircraft from US Airways, and will operate them in the US Airways network under a regional jet service agreement that has been negotiated and approved by the U.S. Bankruptcy Court. Three additional Embraer 170s that had been slated for delivery to US Airways were purchased by Republic directly from the manufacturer.

In addition, US Airways has sold, and then leased back from Republic, commuter slots at Ronald Reagan Washington National and New York LaGuardia airports.

“Republic Airways has been operating as a US Airways Express carrier since earlier this month, and we are pleased to complete this additional step in our expanded relationship as well as in our restructuring efforts,†said Bruce R. Lakefield, US Airways president and chief executive officer.

Other Embraer 170 assets, including a flight simulator and spare parts needed to support the aircraft operations, also are planned to be part of the transaction. The purchase of these assets is expected to be completed in the next few weeks.

As previously announced by US Airways, the Republic asset sale transaction represents approximately $100 million in cash that is built into the Plan of Reorganization approved by the U.S. Bankruptcy Court on Sept. 16, 2005.

FORWARD-LOOKING STATEMENTS
Certain of the statements contained herein should be considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, which reflect the current views of US Airways Group with respect to current events and financial performance. You can identify these statements by forward-looking words such as "may," "will," "expect," "intend," "anticipate," "believe," "estimate," "plan," "could," "should," and "continue" or similar words. These forward-looking statements may also use different phrases. Such forward-looking statements are and will be, as the case may be, subject to many risks, uncertainties and factors relating to the Company's operations and business environment which may cause the actual results of the Company to be materially different from any future results, express or implied, by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following: the ability of the Company to continue as a going concern; the ability of the Company to obtain and maintain any necessary financing for operations and other purposes; the ability of the Company to maintain adequate liquidity; the ability of the Company to absorb escalating fuel costs; the Company's ability to obtain court approval with respect to motions in the Chapter 11 proceedings prosecuted by it from time to time; the ability of the Company to consummate its plan of reorganization with respect to the Chapter 11 proceedings and to consummate all of the transactions contemplated by the plan of reorganization or upon which consummation of the plan is conditioned; the ability of the Company to obtain and maintain normal terms with vendors and service providers; the Company's ability to maintain contracts that are critical to its operations; the potential adverse impact of the Chapter 11 proceedings on the Company's liquidity or results of operations; the ability of the Company to operate pursuant to the terms of its financing facilities (particularly the financial covenants); the ability of the Company to fund and execute its business plan during the Chapter 11 proceedings and in the context of its plan of reorganization and thereafter; the ability of the Company to attract, motivate and/or retain key executives and associates; the ability of the Company to attract and retain customers; the ability of the Company to maintain satisfactory labor relations; demand for transportation in the markets in which the Company operates; economic conditions; labor costs; financing availability and costs; security-related and insurance costs; competitive pressures on pricing (particularly from lower-cost competitors) and on demand (particularly from low-cost carriers and multi-carrier alliances); weather conditions; government legislation and regulation; impact of the continued military activities in Iraq; other acts of war or terrorism; and other risks and uncertainties listed from time to time in the Company's reports to the SEC. There may be other factors not identified above of which the Company is not currently aware that may affect matters discussed in the forward-looking statements, and may also cause actual results to differ materially from those discussed. The Company assumes no obligation to update such estimates to reflect actual results, changes in assumptions or changes in other factors affecting such estimates other than as required by law. Similarly, these and other factors, including the terms of the plan of reorganization as consummated, can affect the value of the Company's various liabilities, common stock and/or other equity securities. Accordingly, the Company urges that the appropriate caution be exercised with respect to existing and future investments in any of these liabilities and/or securities.

ADDITIONAL INFORMATION AND WHERE TO FIND IT
In connection with the proposed merger transaction, US Airways Group has filed a Registration Statement on Form S-4 (Registration No. 333-126162), which includes a proxy statement of America West Holdings, and other documents with the Securities and Exchange Commission. The proxy statement/prospectus was mailed to stockholders of America West Holdings after the registration statement was declared effective by the SEC on August 11, 2005. WE URGE INVESTORS TO READ THE REGISTRATION STATEMENT AND PROXY STATEMENT/PROSPECTUS AND OTHER RELATED MATERIALS CAREFULLY BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors may obtain free copies of the registration statement and proxy statement/prospectus as well as other filed documents containing information about US Airways Group and America West Holdings at http://www.sec.gov, the SEC's Web site. Free copies of America West Holdings' SEC filings are also available on America West Holdings' Web site at http://www.shareholder.com/americawest/edgar.cfm, or by request to Investor Relations, America West Holdings Corporation, 111 West Rio Salado Pkwy, Tempe, Arizona 85281. Free copies of US Airways Group's SEC filings are also available on US Airways Group's Web site at http://investor.usairways.com/edgar.cfm or by request to Investor Relations, US Airways Group, Inc., 2345 Crystal Drive, Arlington, VA 22227.

This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

PARTICIPANTS IN THE SOLICITATION
America West Holdings, US Airways Group and their respective executive officers and directors may be deemed, under SEC rules, to be participants in the solicitation of proxies from America West Holdings' stockholders with respect to the proposed transaction. Information regarding the officers and directors of America West Holdings is included in its definitive proxy statement for its 2005 Annual Meeting filed with the SEC on April 15, 2005. Information regarding the officers and directors of US Airways Group is included in its 2004 Annual Report filed with the SEC on Form 10-K on March 1, 2005. More detailed information regarding the identity of potential participants, and their interests in the solicitation, is set forth in the registration statement and proxy statement and other materials filed with the SEC in connection with the proposed transaction.
-30-
NUMBER: 4977

 

[TBONEJ4J]

I have a feeling there will be a line around the block of people willing to fly these airplanes.

I hope the grievance is settled in favor of the employees.

[post="304137"][/post]​

If the Arbitration ruling goes in favor of the MDA Pilots and they do not get everything due to them, then that line around the block is a line of SCABS.

Same airplane, exactly the same airplane, same code, same routes but with a cheaper replacement in the same seat. Sounds like a SCAB to me.

 

[ASH]

Please DO NOT quote an entire previous thread to add a couple of lines. Thanks. -Mod.
*


Geez MOD, I didn't know it was a previous thread..lighten up a little. Is storage space on the internet in short supply or nsomething.

Is this moderator always a Nazi?...over

 

[TBONEJ4J]

Now who's gonna fly 'em??

[post="304131"][/post]​

If not current MDA Pilots, it'll be done by SCABS I suppose. B)

 

[Jess]

If not current MDA Pilots, it'll be done by SCABS I suppose. B)

[post="304164"][/post]​

You need to watch your mouth with the S word. The CHQ contract says that all flying by Republic Airways Holdings will be done by the pilots on the senority list. The MDA Folks are entitled to go with the planes if it is a change of control. 90% of the guys at CHQ and MDA understand that they are only pawns in this game and that the managment teams are working against us all. I have been impressed with the unity and dedication shown by MDA pilots over this issue. You guys have always been a class act. But just like MDA not accepting the J4J and 50% furlough, don't expect the CHQ bunch to allow company owned assets to be flown by outsiders. This is a very delicate situation but maintaining a civil relationship between the two pilot groups can only better the cause. Calling people who have not crossed a picket line scabs is horendous in this industry. Please take a breath and identify the real enemies and not the pawns.

 

[ASH]

You need to watch your mouth with the S word. The CHQ contract says that all flying by Republic Airways Holdings will be done by the pilots on the senority list. The MDA Folks are entitled to go with the planes if it is a change of control. 90% of the guys at CHQ and MDA understand that they are only pawns in this game and that the managment teams are working against us all. I have been impressed with the unity and dedication shown by MDA pilots over this issue. You guys have always been a class act. But just like MDA not accepting the J4J and 50% furlough, don't expect the CHQ bunch to allow company owned assets to be flown by outsiders. This is a very delicate situation but maintaining a civil relationship between the two pilot groups can only better the cause. Calling people who have not crossed a picket line scabs is horendous in this industry. Please take a breath and identify the real enemies and not the pawns.

[post="304175"][/post]​

Here here!!

 

[TBONEJ4J]

You need to watch your mouth with the S word. The CHQ contract says that all flying by Republic Airways Holdings will be done by the pilots on the senority list. The MDA Folks are entitled to go with the planes if it is a change of control. 90% of the guys at CHQ and MDA understand that they are only pawns in this game and that the managment teams are working against us all. I have been impressed with the unity and dedication shown by MDA pilots over this issue. You guys have always been a class act. But just like MDA not accepting the J4J and 50% furlough, don't expect the CHQ bunch to allow company owned assets to be flown by outsiders. This is a very delicate situation but maintaining a civil relationship between the two pilot groups can only better the cause. Calling people who have not crossed a picket line scabs is horendous in this industry. Please take a breath and identify the real enemies and not the pawns.

[post="304175"][/post]​

Like I said, if the Arbitration ruling goes in favor of the MDA Pilots and they do not get everything due to them, then that line around the block is a line of SCABS.

Welcome to the 21st Century, the SCAB no longer needs to cross the Picket Line to take somebody's job!

Even if the Arbitrator's ruling goes against the MDA Pilots, the SCAB is in the eye of the beholder. These are not Aircraft coming off the production line or out of the Mojave, they are being operated as a US Airways Fleet Type with incumbent pilots. Notwithstanding the fact that the AAA MEC threw protections out, do you even know what Fragmentation means? Merger? Airline Acquisition? Ever heard of the Allegheny-Mohawk LPPs? Ever wonder why they came about?

Company owned assets being flown by outsiders! Give me a break. If the CHQ Pilot group had done the right thing, no MDA pilot would be an 'Outsider'. To blame Management alone, come on!

So 90% of the guys at CHQ understand they are only pawns? That's very big of them considering most of the CHQ kids are jumping to the left seat with the associated pay raise in a little over a year of getting hired. It's easy being a pawn when the trajectory is always upwards. I would say good luck to them, but the problem is that that upward trajectory comes at the expense of a whole bunch of other pawns, mostly furloughed pawns, such as the 90% of the MDA pawns.

To the original point, scabbing is becoming more sophisticated. Don't limit yourself to such an archaic and outmoded definition for the SCAB as one who crosses a picket line. Current management technique and practice has made it much less confrontational for the SCAB to prosper.

ALL or NONE, and to hell with the SCABS!

 

[TBONEJ4J]

Here here!!

[post="304180"][/post]​

Well, well. Jess and ASH. I'm beginning to suspect that you guys work for, or are on the CHQ Seniority list. You must be salivating at the thought of getting that quick upgrade to the left seat of a shiny, but used, E170.

I say again, the SCAB is in the eye of the beholder. You must be very happy that Mangement has made things so neat and tidy that there are no Picket Lines out there for you to cross. :unsure:

 

[TPAA&P]

WHO IS GOING TO FIX THE AIRPLANES ???

 

[xoxo]

WHO IS GOING TO FIX THE AIRPLANES ???

[post="304213"][/post]​

Who knows...?

 

[xoxo]

I just heard that they took over 3 more a/c today. Can anyone confirm this? One of those a/c was #807(they can have it)lol

 

[Flyrr100]

I'm a CHQ pilot. I don't fly the 170. I don't fly US Airways Express. I'm happy still flying the 145 for Delta Connection. And I'm definately not a kid! Age is over 35 with 15000+ hours.
We don't take kindly to being called scabs. We are union pilots and take anything like that very seriously.

But what would you have the 'kids' who do fly the 170 (it went very junior) do? They have their contract that states that they must fly any and all aircraft flown by Republic. Until one of our union guys comes forward and tells them to 'down tools, they are not crossing any picket line by simply going to work.

We do have many young'ns who agree 'mainline' airlines should be flying the 170 and the 190. Mainly because they want a job there someday. So they can sit on deep reserve for three years and then get furloughed because big airline management don't understand basic finance.

I'm sure the arbitration ruling will be a fair and just ruling. And I'll welcome any MDA pilot who chooses to come over to Republic. The old J4J agreement was very sucessful, and this one will be also.

I understand the 'Mainline' vs 'Express' attitude will be here for years to come. I know we aren't anywhere near as great as the avarage US Airways pilot. But remember we are not all 2000 hour kids who jumped out of a Cessna to fly the big iron. And please, no more scabs.