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Mokulele Airlines operates as scheduled passenger airline carrier, while Republic is an airline holding company. All the parties involved in the transaction are based in the US.
Under the terms of the agreement, Mesa will own 75% of the units and Mokulele shareholders will own the remaining 25% stake. Additionally, current Mokulele shareholders will be obligated to fund up to $1.5 million to capitalize the joint venture.
The joint venture will combine the jet routes currently flown by both Mesa and Republic. Under the agreement, E170 routes currently operated by Republic will be transitioned to jet service provided by Mesa Airlines.
Deal Type Partnership Sub-Category Joint Venture Deal Status Announced: 2009-10-13
Deal Participants
Partner 1 (Company) Mesa Air Group, Inc. Partner 2 (Company) Republic Airways Holdings, Inc.
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