Republic Airways' Stock Soars Again After Tentative Agreement With Pilots Union

Republic Airways Holdings Inc.'s stock surged 9.6% in active premarket trade Tuesday, after nearly doubling on Monday, as the tentative agreement the regional air carrier reached with its pilots union on Monday continued to provide a boost. The stock had tumbled to a record closing low of $2.12 on Aug. 26, after plunging 79% in three months, as the drawn out dispute with its pilots union led to operational disruptions, reduced flying commitments and concerns that a corporate restructuring would be needed. On Monday, the stock soared 82% to a two-month high after the tentative agreement was announced. Cowen & Co. analyst Helane Becker followed by upgrading Republic Airways to market perform from underperform, and boosted her stock price target to $6 from $1. The company said the vote to ratify the agreement is expected to end in late October.