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Republic Airways Holdings Sale Approved

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The U.S. Bankruptcy Court approved Republic Airways Holdings’ motion for an order (i) authorizing the Debtors to sell certain aircraft, prepay certain aircraft loans and consensually terminate related aircraft leases and (ii) approving allowed claims.

As previously reported, “By this motion, Republic requests entry of an order…(i) approving the sale of three EMB 170 SU aircraft…to Aerolitoral, S.A. de CV d/b/a Aeromexico Connect (‘Connect’)…(ii) approving, and authorizing, but not directing, Republic to enter into a binding purchase agreement for each Aircraft…(iii) authorizing Republic to use the net sale proceeds from the sale of the Aircraft to pay down the indebtedness secured by the Aircraft; (iv) authorizing Republic and Connect to mutually and consensually terminate certain leases (the ‘Leases’) of the Aircraft between Connect and Republic Airline Inc. (‘RAI’);and (v) allowing Connect prepetition general unsecured claims against RAI in the aggregate amount of $6,770,092 and against Shuttle America Corporation (‘Shuttle’) in an aggregate amount of $3,543,471.” The Court also approved the Debtors’ motion to file certain information in connection with this sale under seal.

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