Republic Airways Holdings is continuing to “integrate and harmonize” its two fleets and expects both merger-related costs and significant upside as 2026 gets underway, officials said this week.
The airline – which formed late last year through the combination of the former Republic Airways and Mesa Airlines – reported its 2025 full-year and fourth-quarter earnings on Wednesday. Q4 net income reached $5 million, or 12 cents per diluted share, while full-year net income hit $76.2 million, or $1.87 per diluted share.
The earnings window included 36 days of post-merger operations, making the results somewhat difficult to compare to either Republic or Mesa’s past performance. Still, leadership pointed to revenue growth of 20.6% during the fourth quarter and said they are aiming for revenues of approximately $2 billion by the end of this year.
Because the former Republic and Mesa combined without debt, the successor company “has incurred, and expects to continue to incur, significant merger-related costs,” according to the earnings report. Those costs totaled $26.3 million in 2025 and $3.2 million in 2024, officials said.
“We enter 2026 with clarity and integration momentum and believe we are uniquely positioned to deliver exceptional value to our airline partners, employees, and shareholders,” President and Chief Commercial Officer Matt Koscal said in a statement. “This new chapter strengthens our ability to perform consistently, grow strategically, and create long-term value as a leading regional airline. As we execute the Mesa integration throughout 2026 and beyond, we are focused on harmonizing our operations, strengthening our airline partnerships, and positioning Republic Airways for sustainable long-term growth.”
As of Dec. 31, Republic Airways Holdings has a fleet of 311 Embraer E175-family aircraft as a result of the linkup and expanded partnerships with United and American. The carrier has firm orders for 29 new E175 aircraft to be delivered from 2026 through 2029.
Republic and Mesa officially united in November. Mesa was designated the surviving company, but it was renamed Republic Airways Holdings upon closing. The new corporation is headed by Republic’s leadership team.
Even though Republic and Mesa are now legally one company, there are still “parallel operations” in place while consolidation gets underway.
Republic has service agreements with United, Delta, and American, while Mesa works only with United, flying as United Express.
