Mesa Air Group, Inc. filings document the completed transition in which the Mesa legal entity became Republic Airways Holdings Inc. and the business conducted by legacy Republic became the primary business of the company. Material-event reports describe merger closing matters, amended financial-statement exhibits, operating results, Regulation FD disclosures and the registered common stock now trading under the RJET symbol on Nasdaq.
The filing record also covers capital-structure items, including an unregistered common-stock issuance, escrow share releases, debt forgiveness and share cancellation tied to legacy Mesa obligations. Proxy materials address annual meeting voting, director elections, executive compensation, auditor ratification and board governance, while later 8-Ks record executive succession and other governance matters.
Republic Airways Holdings Inc. reported quarterly revenue of $527.4 million for the three months ended March 31, 2026, up from $394.8 million a year earlier, driven by higher block hours, more departures, and added flying under a new United Airlines capacity purchase agreement following the Mesa merger. Net income was $26.9 million, essentially flat versus $27.1 million, as higher wages, maintenance, and merger-related costs offset revenue growth. Operating income rose modestly to $54.2 million, while net cash from operating activities increased to $57.8 million. The company ended the quarter with $295.6 million in cash, cash equivalents, restricted cash, and marketable securities and operated 275 Embraer E170/175 aircraft under fixed-fee contracts with American, Delta, and United.
Republic Airways Holdings Inc. reported first quarter 2026 results and reaffirmed its full-year 2026 outlook. Revenue was $527.4 million, up 33.6%, driven mainly by higher block hours and additional E175 flying tied to the Mesa merger. GAAP operating income was $54.2 million with a 10.3% margin, and net income was $26.9 million, or $0.58 per diluted share. Adjusted operating income was $63.7 million with a 12.1% margin, and adjusted EBITDAR reached $100.1 million. The company ended the quarter with $273.4 million in cash, cash equivalents, and marketable securities and total debt and operating lease liabilities of $1.2 billion, implying adjusted net debt of $965.5 million and trailing twelve‑month leverage of 2.7x. Operationally, Republic produced 212,479 block hours with a 93.87% completion factor, impacted by severe winter weather, but maintained a 99.98% controllable completion factor. Management reiterated 2026 guidance for roughly $2.0 billion in revenue, adjusted EBITDAR above $380 million, and about $165 million of debt repayments.
Republic Airways Holdings Inc. announced a planned leadership transition. The Board of Directors has promoted Matthew J. Koscal to President and Chief Executive Officer, effective June 15, 2026. Current Chairman and CEO David Grizzle will resume the role of non-executive Chair on the same date.
The move finalizes a previously disclosed succession plan following Republic’s all-stock merger with Mesa Air Group. The company reiterated its prior financial guidance and highlighted Koscal’s long tenure and key roles during the merger and integration process.
Republic Airways Holdings Inc. is asking stockholders to vote at a fully virtual annual meeting on May 21, 2026. Stockholders of record as of March 27, 2026, when 46,829,476 shares of common stock were outstanding, may participate and vote online using a 16-digit control number.
The Board seeks approval of three items: election of six director nominees, an advisory vote on compensation for named executive officers, and ratification of Deloitte & Touche LLP as independent registered public accounting firm for 2026. Directors are elected by a majority of votes cast in this uncontested election.
The proxy describes the 2025 merger in which Mesa Air Group combined with Legacy Republic and adopted the Republic Airways Holdings Inc. name and RJET Nasdaq listing. It also details a pay-for-performance program, including annual and long-term incentives tied to controllable completion factor, on‑time departures, pre‑tax income, and strategic initiatives, under which 2025 annual bonuses paid out at 200% of target.
Republic Airways Holdings Inc. operates as one of the largest independent regional airlines in the U.S., flying 275 Embraer E170/175 jets as of December 31, 2025 under long-term capacity purchase agreements with American, Delta, and United. In 2025 it generated $1,676.5 million of revenue and $113.4 million of pre-tax income, up from $1,474.0 million and $86.9 million in 2024, supported by more than 371,000 flights.
The company completed a merger with Mesa Air Group in November 2025, expects about a 24% increase in block hours in 2026, and entered a new 10‑year United capacity agreement covering 60 additional E175s plus a $49.0 million upfront fee. Republic held $319.9 million of cash, cash equivalents, restricted cash, and marketable securities and $1,225.3 million of debt and lease obligations at year-end 2025, owns outright 33% of its 311-aircraft fleet and has orders for 29 new E175s through 2029. Around 8,400 employees, most under collective bargaining agreements, support operations that achieved a 99.99% controllable completion factor in 2025.
Republic Airways Holdings Inc. reported strong growth for 2025, with full year revenues of $1.68 billion, up 13.7%, and net income of $76.2 million, or $1.87 per diluted share, compared with $1.62 in 2024. Adjusted net income rose to $114.0 million, or $2.80 per diluted share, driven by higher block hour production and fleet expansion.
Fourth quarter revenue increased 20.6% to $464.1 million, though net income fell to $5.0 million, or $0.12 per diluted share, largely due to $15.3 million of executive separation and merger-related costs and higher tax expense. The company completed a debt-free merger with Mesa Air Group, adding 60 E175 aircraft and lifting its E175-family fleet to 311 aircraft, and ended 2025 with adjusted EBITDAR of $342.4 million, adjusted net debt of $928.8 million, and a leverage ratio of 2.7x. 2026 guidance calls for approximately $2.0 billion of revenue, at least 865,000 block hours, adjusted EBITDAR above $380 million, and $165 million of planned debt extinguishment.
Contrarian Capital Management, L.L.C. and its managing member Jon R. Bauer report beneficial ownership of 4,446,210 shares of Republic Airways Holdings Inc. common stock, representing 9.5% of the class as of 12/31/2025.
They report shared voting and dispositive power over all 4,446,210 shares and no sole voting or dispositive power. All securities are directly owned by advisory clients of Contrarian Capital Management, and each reporting person disclaims beneficial ownership beyond their pecuniary interest.
Republic Airways Holdings Inc. disclosed that 2,744,348 shares of its common stock were released from escrow and issued to United Airlines on February 5, 2026. These shares were valued at $18.84 each, for a total of about $51.7 million, in exchange for forgiveness and repayment of certain debts and obligations tied to the company’s merger with Legacy Republic. An additional 109,106 escrowed shares were returned to the company and cancelled. After this settlement, as of February 9, 2026, Republic Airways had 46,829,476 common shares issued and outstanding.
Owl Creek Asset Management, L.P. and Jeffrey A. Altman have disclosed a significant passive stake in Republic Airways Holdings Inc. They report beneficial ownership of 4,113,312 shares of common stock, representing 8.8% of the company, based on approximately 46,900,000 shares outstanding as of November 25, 2025.
The shares are held by Owl Creek-managed funds and related entities, with Owl Creek and Altman sharing voting and dispositive power and no sole authority over the stock. They certify the position was acquired and is held in the ordinary course of business and not for the purpose of changing or influencing control of Republic Airways.