Republic Airways'


stock caught an updraft Friday after the regional carrier beat Wall Street earnings estimates.

The Indianapolis airline reported first-quarter net income of $14.6 million, up 46.7% from $9.9 million a year before. On a per-share basis, earnings were 48 cents, flat from a year before, but 4 cents ahead of the average analyst estimate from Thomson First Call.

In reaction, shares gained 45 cents, or 3.4%, to $13.62. Most other airline stocks were in negative territory, and the Amex Airline Index lost 2.7%.

Revenue was $178.4 million, up 49.7% from $119.2 million a year before and topping the $169.0 million analyst consensus. Growth was driven by a 38.4% capacity increase as Republic added 33 regional jets to its fleet over the past year.

The airline kept non-fuel unit costs flat from a year before. Republic is reimbursed for fuel costs by its network airline partners, which include

Delta Air Lines

(DAL) - Get Report




United Airlines and

US Airways



Republic has offered financing to US Airways to help it exit Chapter 11 bankruptcy.