Republic Airways Holdings reported first-quarter net income of $20.2 million, up 4.5% from $19.3 million earned in the year-ago period. Revenue grew 25.3% to $363.9 million while operating expenses rose 26.5% to $298 million. Operating income incrased 20% to $65.8 million from $54.8 million. "The big news happened after the quarter closed," CEO Bryan Bedford said, referring to Frontier Airlines' cancellation of its air service agreement (ATWOnline, April 24). "We were surprised by the ...

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