Manufacturing Industry
Republic Airways selected by Mokulele Airlines to operate Embraer 170 Regional Jets
Airline Industry Information, Oct 16, 2008
AIRLINE INDUSTRY INFORMATION-(C)1997-2008 M2 COMMUNICATIONS LTD
Republic Airways Holdings Inc (NASDAQ:RJET) announced today that its subsidiary airline, Shuttle America, has been chosen by Mokulele Airlines of Hawaii to operate four Embraer 170 regional jets .
Under a 10-year capacity purchase agreement between the companies, two 70-seat Embraer 170 jets will enter revenue service on 19 November 2008 and a further two are expected to begin operating during spring of 2009. Flights, including Shuttle America's, will be scheduled, priced, distributed and promoted by Mokulele.
Republic are to provide up to USD8.0m in direct financing to Mokulele, in the form of a line of credit, which can be converted by up to 45% of the common stock of Mokulele at Republic's option.
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