Regional Airlines Republic Airways, Mesa Aircraft Combines Exchange

Republic Airways and Mesa Air Group Inc. combined in a fund deal that will create a regional airline that has access to more planes for service routes.

The special financial terms of the transaction were not disclosed on Monday.

The Republic, which began in 1974, was 17.5 million passengers in more than 240 Embraers 170/175 and more than 300,000 passengers. Serves mainly north-east and medium Atlantic centers and operates only under long-term potential purchase contracts with American Airlines, Delta Air Lines and United Airlines.

MESA Aircraft, established in 1982, 40 states, the Bahamas, Canada, 89 cubic city, a regional aircraft that offers 89 cities to 89 cities is a mesa aircraft. A daily operation of 60 employees of an average of 250 planned departures and about 1,700 employees.

MESA is suitable for suitable airlines with suitable airlines as part of the potential within the purchase contract.

The combined airline will have a fleet of about 310 salivated 170/175 aircraft, which is more than 1,250 days. American Airlines, Delta and United Airlines will continue to keep storage of all flight groups, technical and other operations.

“Republic and Mesa share a common mission to unite communities on America, and we believe that we can further improve this mission,” said the President and CEO Bedford told Monday. “This combination will benefit from the Republic and Mesa Associates, creating a good capitalized, public company, creating value for all stakeholders, creating value for all stakeholders.”

The company’s Republican Airlines will be called Holdings Inc. and “Rjet” will be listed in NASDAQ under the new ticker. Its board will include six existing directors from the Republican Board and the MESA Board.

Once the operation is closed, the shareholders will make up 88% of the company’s shares. MESA shareholders will have at least 6% and 12% of the United Company, which depends on achieving a certain parcel criteria. As a result of the operation, all prominent Mesa debt obligations will be turned off.

Both companies confirmed the bargets, or the bargaining aiming to approach the fourth quarter. It is still necessary to confirm the shareholders of both companies.

Mesa Air Group shares in Phoenix, Arizona, increased by 67% to $ 1.20 without opening the market.