Republic Airways Holdings Inc. · NASDAQ:RJET
Republic Airways — Q3 2026 Earnings Presentation
12 slides from Republic Airways's earnings presentation, Oct 29, 2026
Slide 1: Investor Update
INVESTOR UPDATE October 29, 2026
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements This presentation contains forward-looking statements that reflect the current views of Republic Airways Holdings Inc. (the “Company” or “Republic”) with respect to, among other things, its operations and financial performance. Forward-looking statements include
Slide 3: Third Quarter Highlights
Third Quarter Highlights People Operations Finance Opened Mesa operations center 99.96% controllable completion 34% revenue growth at aviation campus in Carmel, IN factor(1) (CCF) and 94.59% corresponding with 26% block and welcomed Mesa Associates completion factor (CF) hour growth YoY relocating f
Slide 4: Key Performance and Financial Metrics
Key Performance and Financial Metrics Excellence in Operations People Controllable Completion Factor Completion Factor Block Hour Production (000) 99.99% 99.98% 99.98% 99.99% 99.96% 98.21% 212 227 216 96.85% 198 95.92% 171 94.59% 93.87% Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Q3
Slide 5: Mesa Integration Pacing Ahead of Plan
Mesa Integration Pacing Ahead of Plan Fleet and Maintenance Regulatory and IT Systems and Corporate Functions Harmonization Operations Infrastructure Substantially all of Mesa’s Continued to improve fleet Received FAA acceptance Continued progress corporate functions have health and maintenance for
Slide 6: Stable Fleet Taking Flight in Long-Term Partnerships
Stable Fleet Taking Flight in Long-Term Partnerships Debt Partner Owned Debt Partner Owned Debt Partner Owned Financed Controlled Outright Financed Controlled Outright Financed Controlled Outright E175 – Capacity Purchase 7 - 85 6 35 16 54 72 - Avg Age:13 Years 275 92 57 126 Non-Operator Leasing 31(
Slide 7: Liquidity and Balance Sheet Strength
Liquidity and Balance Sheet Strength Creating Opportunities for Future Growth 2026 Forecasted Capex ($M) 2026 Forecasted Debt ($M) $185 $95 $1,084 $1,014 Borrowings 90 ($165) Aircraft/Engine Paydown 40 Aviation Campus Other 55 Leverage(1) 2.8x 2.4x 2.2x Long-Term ~2.0x Target <1.5x Sep-25 Jun-26 Sep
Slide 8: Updating 2026 Guidance
Updating 2026 Guidance Company Issued Guidance July 30, 2026 Update October 29, 2026 Update Revenues ~$2.1B No Change Block Hours ~880,000 No Change Adjusted EBITDAR(1) $395M - $405M $410M - $420M Capital Expenditures, Net of New Debt ~$90M No Change Debt Repayments ~$165M No Change Adjusted Diluted
Slide 9: Appendix
. Republic xy Airways* APPENDIX
Slide 10: Non-GAAP Reconciliations
Non-GAAP Reconciliations Three Months Ended USD ($M) September 30, 2025 December 30, 2025 March 31, 2026 June 30, 2026 September 30, 2026 Net income $ 6.7 $ 5.0 $ 26.9 $ 31.2 $ 34.6 Income tax expense 2.5 11.9 10.7 12.2 14.6 Pre-tax income 9.2 16.9 37.6 43.4 49.2 Executive separation and merger-rela
Slide 11: Non-GAAP Reconciliations
Non-GAAP Reconciliations As of USD ($M) September 30, 2025 June 30, 2026 September 30, 2026 Debt and lease liability $ 1,192.7 $ 1,194.5 $ 1,153.1 Cash and marketable securities (270.0) (277.6) (290.1) Adjusted net debt 922.7 916.9 863.0 Adjusted EBITDAR (trailing 12 months) 324.8 376.5 399.7 Levera
Slide 12: Republic Airways
* ws * . « Republic ares Alrways
Republic Airways Holdings — Q3 2026 Earnings Presentation on 6ix