March 20, 2007

Republic Airways to Buy Back 2M Shares

Republic Airways to Purchase 2 Million of Its Shares From WexAir for $41 Million

INDIANAPOLIS (AP) -- Republic Airways Holdings Inc., a regional carrier for several major airlines, said Monday it will purchase two million shares of its common stock from WexAir LLC, a former majority stockholder, for $41 million.

Republic Airways will pay $20.50 per share.

The company said it expects the transaction will occur on or before March 21.

After the transaction, the company will have about 41.1 million shares of its common stock outstanding.

Shares of Republic Airways added 34 cents to close at $21.04 on the Nasdaq Stock Market.

Copyright © 2007 The Associated Press. All rights reserved.
Via: Yahoo! Finance

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