Republic Airways Holdings reported third-quarter 2026 revenue of $553.5 million and net income of $34.6 million, and raised its full-year outlook. The airline said results held up despite disruptive weather, while it continued integrating Mesa Airlines and made plans to put five aircraft to work for American Airlines in December.
The quarter’s results include Mesa, whose parent company Republic acquired in November 2025. Prior-year comparisons exclude Mesa, so the reported 34% revenue increase reflects a different company mix and is not a like-for-like comparison.
Financial results
- Revenue was $553.5 million. Operating income was $63.2 million, for an 11.4% operating margin.
- Pre-tax income was $49.2 million, with an 8.9% margin. Net income was $34.6 million, or $0.75 per diluted share.
- On an adjusted basis, operating income was $69.9 million, with a 12.6% margin. Adjusted pre-tax income was $55.6 million, with a 10.0% margin, and adjusted diluted earnings per share were $0.85.
- Adjusted EBITDAR was $106.8 million.
- Republic ended the quarter with $290.1 million in unrestricted cash, cash equivalents and marketable securities. Total debt and lease liabilities were $1.2 billion.
Operations and integration
- Republic completed 114,876 flights and recorded 215,979 block hours during the quarter.
- Its overall completion factor was 94.59%. The controllable completion factor was 99.96%; that measure excludes cancellations attributed to weather, air traffic control and partner requests.
- The company said core support functions are substantially integrated and have been relocated to Carmel, Indiana. Work to harmonize operating policies and procedures is also progressing.
- Republic reached an agreement with American Airlines to put five previously unassigned aircraft into service in December 2026.
Outlook and context
Republic raised its full-year 2026 guidance, citing strong cash generation and improved leverage. The announcement details provided do not specify the revised guidance figures.
The quarter’s reported revenue growth should be read in light of Mesa’s inclusion: Republic’s current results cover the combined business, while the comparison periods do not. The release also presents adjusted profit measures alongside its GAAP results, giving investors two sets of earnings figures to distinguish.