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Republic Airways Holdings Inc. Reports Operating Results (10-Q)
Posted by: gurufocus (IP Logged)
Date: May 10, 2012 04:49PM
Republic Airways Holdings Inc. (RJET) filed Quarterly Report for the period ended 2012-03-31.
Highlight of Business Operations:The following table sets forth information regarding the Company s revenues and expenses for the three months ended March 31, 2012 and 2011. Individual expense components are also expressed in cents per ASM.
Operating revenue in 2012 decreased 4.5%, or $16.7 million, to $355.2 million from $371.9 million primarily as a result of a decrease in the amount of aircraft flying for the Republic segment. Total operating and interest expenses, excluding fuel expense, decreased 3.0%, or $8.7 million, to $284.5 million in 2012 compared to $293.2 million in 2011.
Promotion and sales expenses decreased by 47.7%, or $3.1 million, to $3.4 million in 2012 compared to $6.5 million for 2011 due mainly to significantly decreasing pro rate operations by temporarily parking E145 aircraft. The unit cost decreased to 0.10¢ in 2012 compared to 0.18¢ in 2011.
Operating revenue in 2012 increased 19.2%, or $55.2 million, to $342.4 million from $287.2 million primarily as a result of an improvement in Frontier's unit revenue. Total operating and interest expenses, excluding fuel expense, increased 5.0%, or $11.1 million, to $232.1 million in 2012 compared to $221.0 million in 2011.
Promotion and sales expenses decreased by 18.0%, or $5.8 million, to $26.4 million in 2012 compared to $32.2 million for 2011 due mainly to a decrease in advertising expenses coupled with restructuring savings on distribution costs. The unit cost decreased to 0.88¢ in 2012 compared to 1.19¢ in 2011.
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