INDIANAPOLIS, IN – On Tuesday, June 9, Republic Airways pilots and their families will rally outside the company’s annual shareholders meeting in Indianapolis.
The pilots, members Teamsters Local 357, are calling on shareholders to pressure CEO Bryan Bedford to quickly finish an agreement that includes fair pay and benefits and reflects changes that have occurred in the airline industry since the last contract was signed in 2003.
The outdated agreement is affecting Republic’s ability to retain and hire pilots, leading to an increase in cancelled flights, and resulting in lost wages for pilots and lost revenue for the company. More than 1,600 flights were cancelled in May. This year, Republic stock price has fallen dramatically from a February 2015 high of $14.98 to $10.76 at close on June 5, 2015.
Republic Airways Holdings owns and operates regional flights for American, United, Delta and US Airways under the Republic Airlines and Shuttle America brands. Approximately half of the nation’s domestic flights are outsourced to regional airlines rather than flown by a larger carrier.
WHAT TO TAKE AWAY FROM THIS ARTICLE:
- The outdated agreement is affecting Republic’s ability to retain and hire pilots, leading to an increase in cancelled flights, and resulting in lost wages for pilots and lost revenue for the company.
- The pilots, members Teamsters Local 357, are calling on shareholders to pressure CEO Bryan Bedford to quickly finish an agreement that includes fair pay and benefits and reflects changes that have occurred in the airline industry since the last contract was signed in 2003.
- Republic Airways Holdings owns and operates regional flights for American, United, Delta and US Airways under the Republic Airlines and Shuttle America brands.
