Flight International online news 08:30GMT: US Airways has completed its sale of Embraer 170s and other assets to Republic Airways Holdings, generating $90 million in liquidity.
Under the deal, Republic will purchase 10 E-170s from the US major and assume the leases on a further 15. The carrier will continue to operate the aircraft as US Airways Express.
Republic says it expects the transition of all 25 aircraft to be completed by September 2006.
In addition, Republic has purchased directly from Embraer three E170s that were originally scheduled to be delivered to US Airways.
US Airways has also sold and leased back from Republic 24 slots at New York LaGuardia and 113 at Washington National.
The transaction also includes an E-170 flight simulator and spare parts; the purchase of these assets will be completed “in the next few weeks”, says US Airways.
KERRY EZARD/WASHINGTON
Source: Flight International
