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Embattled Mesa Air agrees to merger deal

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Mesa Air Group Inc., the Phoenix-based regional airline, and Indiana-based Republic Airways Holdings Inc. announced Monday they have signed a definitive agreement to merge.

The deal, which will be an all-stock transaction, is expected to close “either the late third or early fourth quarter of 2025,” according to the joint announcement. Once closed, a new publicly traded regional airline company will be formed called Republic Airways Holdings Inc. It is expected to trade on the Nasdaq exchange under the symbol "RJET."

The shareholders of Republic Airways, which has been a privately held company since emerging from Chapter 11 bankruptcy in 2017, will own 88% of the combined company's common shares, while Mesa shareholders will own between 6% and 12% based off Mesa’s ability to reach certain criteria before the deal closes later this year.

Read more of this story from the Business Journal.