Mesa Air and Republic Airways to merge; Mesa shareholders to own 6-12% of combined co

REPUBLIC AIRWAYS HOLDINGS INC.

Republic shareholders to own 88% of combined co; Mesa shareholders to own 6-12% based on pre-close criteria.
Pro forma combined revenue ~$1.9B; adjusted EBITDA >$320M; net leverage ~2.5x; liquidity >15% of revenues.
All Mesa debt extinguished at close; combined company led by Republic's Bryan Bedford; Board: 6 from Republic, 1 from Mesa.
Expected to close late Q3/early Q4 2025; requires shareholder approvals, HSR clearance, and FAA/other regulatory nods.
United Airlines enters Three Party Agreement; Mesa to obtain new 10-year capacity purchase agreement with United.

item 1.01 item 7.01 item 9.01

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accession: 0001193125-25-075908
form_type: 8-K
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company_name: REPUBLIC AIRWAYS HOLDINGS INC.
filed_at: 2025-04-08T23:59:59+00:00
discovered_at: 2026-05-14T18:02:51.353665+00:00
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accession 0001193125-25-075908

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