Dahlman Rose Reiterates Hold on Republic Airways

Dahlman Rose is out with its report today on Republic Airways RJET, reiterating Hold. In a note to clients, Dahlman Rose writes, "We believe investors should remain on the sidelines in the short term as there are economic concerns, volatile fuel prices, and short-term revenue issues. Frontier is likely to flounder this year. The Republic Airways portion is generating ~$50 million in after-tax income, but it is being swallowed by the Frontier losses. As a result, we are maintaining our Hold rating." Shares of RJET closed Friday at $4.21.