Republic Airways files for protection as profits plunge, pilots are poached

Republic Airways Holdings Inc. is filing for Chapter 11 bankruptcy protection, as it struggles with a plunge in profits and a pilot shortage.

The Indianapolis-based carrier said Thursday the move allows it continue normal flight schedules while it restructures its finances and contracts. It says it will retain its collective bargaining agreements with its unions.

The airline’s pilots fly regional jets for American, United and Delta. The bigger airlines have been hiring pilots away from regional operators like Republic.

Republic had been unable to hire enough replacements due in part to a labor dispute, which was eventually resolved.

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