Republic Airways reports Q3 results

Republic Airways has reported pre-tax income for the third quarter of 2015 of $8.3 million, compared to $30.5 million for the year-ago period. Republic’s net income for the third quarter of 2015 was $2.9 million, or $0.06 per diluted share compared to prior year net income of $18.5 million or $0.35 per diluted share. The effective tax rate of 65.1 percent for the quarter was higher than the normalized tax rate, primarily due to the impact of miscellaneous non-deductible expenses. The third quarter 2015 financial results continued to be negatively impacted by the airline’s inability to fully utilize its aircraft