NEW YORK (TheStreet) -- Shares of Republic Airways (RJET) were crashing, down 10.61% to $3.37 on very heavy trading volume Tuesday, one day after the regional airline announced its preliminary results for the second quarter.

Republic Airways expects to post earnings of between 8 cents to 10 cents per share on revenue of between $338 million to $340 million.

Analysts are expecting the company to earn 28 cents per share on revenue of $349.93 million for the second quarter.

The airline pointed to an ongoing operational disruption caused by regulatory changes as well as an ongoing labor dispute with pilots for the lower earnings and revenue figures.

Shares have plummeted more than 77% so far this year. The stock has fallen nearly 68% in the last 12 month period.

About 3.42 million shares of Republic Airways were traded as of 1:05 p.m. ET today, compared to the company's average trading volume of about 781,552 shares a day.

Indianapolis-based Republic Airways offers scheduled passenger services through its wholly owned operating air carrier subsidiaries, Chautauqua Airlines, Shuttle America Corp, and Republic Airline. 

Separately, TheStreet Ratings team rates REPUBLIC AIRWAYS HLDGS INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate REPUBLIC AIRWAYS HLDGS INC (RJET) a HOLD. The primary factors that have impacted our rating are mixed, some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, generally higher debt management risk and weak operating cash flow."

You can view the full analysis from the report here: RJET Ratings Report

RJET data by YCharts

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