Bear - Just a little additional input - Take a look at the RJET news.
1. RJET s order for 40 C-Series Jets is worth 3 Billion (US$$$), with an option for 40 more equaling 6 Billion. The $3 Billion debt is a big one to shed. They did that move with Bombardier when they bought Frontier out of Denver and had since sold them. The C-Series does not fit into the RJET Fleet. Shedding the 145s I believe was underway and under control with the exception of RJET was responsible for upkeep and engine maintenance, which is very costly for the annuals.
2. Also, in addition, now Embraer is upgrading the design of the E170s/E180s with a new wing configuration and upgraded (more efficient) engines.
Bears, Here are a few insights that might help your. Chapter 11 would allow them to clear the debt to be incurred by having these aircraft in their fleet. Aircraft have advanced since the inception of the C Series and the E145s are tough to get rid of in the U.S. market place. The E170/E175 are much better for fleet development. My thoughts as you were looking for some insight.
1. The airline was flying 41 of the 45-seat E145s at the end of last year’s third quarter and has parked many of the 80 E145s it still controls.
2. Republic has been working to slim down operations by flying the more popular 70- to 88-seat Embraer E170 and E175 aircraft, which are bigger than the Embraer E145.
3. Republic signed a firm order for 40 Canada’s Bombardier Inc. CS300 planes in 2010 and not yet delivered.