American Airlines reaches deal with regional carrier
Fort Worth, Texas-based American Airlines Group Inc. has reached a deal with Republic Airways Holdings in which the bankrupt regional carrier will continue providing regional flights for world's largest airline.
The agreement clears the way for Indianapolis-based Republic to exit its Chapter 11 bankruptcy case. American (NASDAQ: AAL) is Republic's largest customer, representing about half of the regional carrier's revenue.
Republic CEO Bryan Bedford called the agreement 'a major milestone...