Republic Airways Holdings (RJET) rose 3.6% on Wednesday as investors continue to eye the impact of the company’s merger with Mesa Airlines that closed last week and brought the airline name back into the public market.
Republic Airways (RJET) is now one of the largest regional airlines in North America, providing scheduled passenger service through mainline partnerships with American Airlines (AAL), Delta Air Lines (DAL), and United Airlines (UAL). The company owns the world’s largest Embraer (EMBJ) jet fleet of 310 E-Jets, supporting more than 1,300 daily departures.
“Bringing Republic and Mesa together is the natural next step for Republic. It continues a growth trajectory that stretches back more than five decades, makes us a stronger and more capable partner for our customers, will create new job and career opportunities for our people, and offers a compelling investment opportunity in an essential industry,” highlighted Republic Airways President Matt Koscal.
The airline company has a market cap of just under $946 million. Allegiant Travel (ALGT) and Frontier Group (ULCC) are the airline stocks closest to the market cap size of RJET.