Earnings Call Excerpt
Republic Airways Holdings Inc. (RJET)
Q1 2009 Earnings Call
May 5, 2009, 10:00 am ET
Executives
Hal Cooper - CFO
Bryan Bedford - CEO
Wayne Heller - COO
Tim Dooley - VP, Finance
Joe Allman - Controller
Analysts
Duane Pfennigwerth - Raymond James
Jim Parker - Raymond James
Steve O'Hara - Sidoti & Company
Bob McAdoo - Avondale Partners
Presentation
Operator
Welcome to the First Quarter 2009 Republic Airways Holding Incorporated Earnings Call. My name is Keisha, and I would be your operator for today. (Operator Instructions).
I would now like to turn the call over to Mr. Hal Cooper, Chief Financial Officer.
Hal Cooper
Thank you, Keisha and welcome everyone. Thank you for joining us today. Let me just introduce everyone in the room. I am joined by Bryan Bedford, our Chief Executive Officer, Wayne Heller our Chief Operating Officer, Tim Dooley, our Vice President of Finance and Joe Allman our Controller.
Let's start off by the Safe Harbor disclosure. Please note that information contained in our earnings release and this call contains forward-looking information, as defined by US securities laws. Forward information is subject to risks and uncertainties and we refer you to a summary of risk factors contained in our most recent filing with the SEC.
That said, I want to turn the call over to Bryan. He is going to quickly highlight some of the items contained in our press release, that went out last night and then we will be happy to take your questions. Bryan?
Bryan Bedford
Thanks, Hal. I would like to start by giving my sincere thanks to our 4500 employees for their outstanding teamwork over the last several months, rising to operational challenges and delivering an outstanding product to our partners and our customers.
I had the opportunity to fly on Republic aircraft a lot over the last 90 to 120 days and I have tell you, I am just always inspired by the quality, the people that we have in this organization, and I truly think some of the best in the business, so again, sincere thank you to all my coworkers, and of course, we will answer your questions, after we get through the prepared remarks.
Let me cover couple of the highlights that, the handout I saw in the first quarter press release, we recently published.
On the airline service revenue side excluding fuel reimbursement, which is a pass-through cost to our partners. Our revenues increased 4% and that increase is due mainly to the gate change in mix adding more EJets the larger 76 to 86 seats aircraft, which produce higher revenue for block hour force and the smaller regional jets that we removed from service.
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