RJET Republic Airways Holdings Inc. - Common Stock

NASDAQ · Airlines · View on SEC EDGAR ↗
$19.80
Price · Aug 19, 2026
Fundamentals as of Jul 31, 2026

About Republic Airways Holdings Inc. - Common Stock Company overview from Wikipedia

Mesa Air Group, Inc. is a Nevada Corporation commercial aviation holding company with headquarters at 410 North 44th Street, Suite 700 in the Camelback East area of Phoenix, Arizona, United States. The company operates one regional airline subsidiary: Mesa Airlines which operates as United Express and as American Eagle under contractual agreements with United Airlines and American Airlines respectively.

Read more

Mesa Air Group, Inc. is a Nevada Corporation commercial aviation holding company with headquarters at 410 North 44th Street, Suite 700 in the Camelback East area of Phoenix, Arizona, United States. The company operates one regional airline subsidiary: Mesa Airlines which operates as United Express and (until 2023) as American Eagle under contractual agreements with United Airlines and American Airlines respectively.

Mesa was founded on a mesa in Farmington, New Mexico in 1982 by Larry and Janie Risley, a husband and wife team that mortgaged their home to finance their dream to own an airline. Mesa moved its headquarters to Phoenix, Arizona in 1998.

As of June 2022, Mesa operated 167 aircraft, with more than 457 daily departures to 120 cities throughout the U.S., District of Columbia, Canada, Mexico, The Bahamas, and Cuba.

Subsidiaries

Airlines

Mesa Airlines, Inc.

Former airlines and subsidiaries

Air Midwest

Freedom Airlines, Inc.

CalPac (California Pacific)

CCAir

Desert Sun Airlines

FloridaGulf Airlines

go!

Liberty Express Airlines

Mountain West Airlines

Skyway Airlines

Superior Airlines

WestAir Holdings, Inc. and WestAir Commuter Airlines

Desert Turbine Services

Four Corners Aviation

Mesa Leasing, Inc.

San Juan Pilot Training

History

Mesa began in 1980 when JB Aviation, a fixed-base operator at the Four Corners Regional Airport in Farmington, NM, established a charter flight department and Mesa Air Shuttle with scheduled commuter airline service from Farmington to Albuquerque using a five-seat single-engine Piper Saratoga aircraft. A nine-seat Piper Navajo was later added for new service between Farmington and Denver. In late 1981, the Denver flights were discontinued and a new route from Farmington to Grand Junction, CO, and Vernal, UT, was briefly added. In 1982, using $140,000 in capital, Larry Risley, an A&P mechanic with JB Aviation, and his wife Janie, purchased the airline; by mid 1983, they acquired their first 14-seat Beechcraft 99 turboprop commuter airliner. New service from Albuquerque to Durango, CO, began with the arrival of the second Beech 99 later that year. More Beech 99's were acquired and the company continued to expand from Albuquerque to other cities throughout New Mexico as well as Lubbock, TX.

During its first few years, Mesa found itself in a very competitive environment. Six other carriers competed against Mesa: Air Midwest, Sun West Airlines, Pioneer Airlines, Trans-Colorado Airlines, Airways of New Mexico, and JetAire. As fare wars erupted between the carriers, Mesa was able to survive due to its low cost structure. It performed maintenance in house, many of Mesa's employees performed multiple duties: pilots and mechanics doubled as gate agents and ramp agents.

In 1984, the Civil Aeronautics Board awarded Mesa its first Essential Air Service (EAS) contract, to serve Roswell, Hobbs, and Carlsbad, winning the contract from Air Midwest. A second round of EAS bidding resulted in Mesa winning contracts to serve Silver City, Alamogordo, Las Cruces, Clovis, and Gallup.

By late 1985, Mesa acquired its first Beechcraft 1900 turboprop and began the first scheduled air service to Telluride, CO, as that aircraft had the performance to serve the city's airport which sits at more than 9000 feet above sea level. Service was also added to high altitude Angel Fire, NM, a year later.

By 1987, Mesa had grown from six employees in 1982 to 187 employees; its fleet grew from a single Piper Saratoga in 1980 to one Piper Chieftain and three Beechcraft 99s in 1984 to five Beechcraft 99 and four Beechcraft 1900 turboprops. Of the six competing air carriers, none remained to challenge Mesa in New Mexico by the end of 1987. The airline had built up its Albuquerque hub to 45 departures per day serving 17 cities and providing hourly service to Farmington.

Mesa continued to grow in 1987. It listed on Nasdaq: MESA with an initial public offering of 865,000 shares of stock at $7.50. While it was now operating to all the primary cities in New Mexico, it then expanded outside of the state by acquiring routes in Wyoming, Utah, and Colorado from Centennial Airlines as well as adding nonstop flights from Roswell, NM, to DFW. Mesa then acquired a pair of 9-seat Cessna Caravans to serve even smaller cities in New Mexico and established new routes from Albuquerque to Taos and Ruidoso.

To provide a pool of qualified pilots, Mesa established an ab-initio flight training program in 1989 with San Juan College, a local community college.

Acquisitions and mergers

Starting in 1989, Mesa embarked on a series of acquisitions and mergers over the next six years.

In February 1989, Mesa negotiated its first codeshare agreement with Midwest Express and established Skyway Airlines in Milwaukee. In July 1989, StatesWest Airlines failed to take over Mesa by making an offer to purchase all of its common operating stock.

In February 1990, Mesa acquired Aspen Airways' United Express Denver hub, routes, and assets, and negotiated a codeshare agreement with United Airlines. Using these newly acquired routes, Mesa set up a Denver hub flying as United Express. Aspen Airways' BAe 146 and Convair 580 aircraft and its Denver-Aspen route were sold to Air Wisconsin.

Mesa had many changes in 1991; acquiring Air Midwest, its Kansas City hub and a codeshare agreement with USAir Express in July, starting FloridaGulf Airlines serving Florida, South Carolina, Georgia, Alabama, Arkansas, and Louisiana from its Tampa hub under a USAir Express codeshare in December. It was also in talks to acquire WestAir Commuter Airlines.

In 1992, Mesa completed acquisition of WestAir Commuter Airlines and its hubs in San Francisco, Los Angeles, Portland, and Seattle as well as its United codeshare. In October 1992, Mesa negotiated a codeshare agreement with America West for its Phoenix hub to be operated as America West Express.

In 1993, Mesa's codeshare with Midwest Express expired. Midwest Express kept the name Skyway for its future regional of the same name. Using the aircraft from the former Skyway operation, Mesa established Superior Airlines with a Columbus hub operating as America West Express. Mesa created CalPac (California Pacific) with a Los Angeles hub operating as United Express. Both Superior and CalPac were short-lived operations, with both airlines being folded back into Mesa Airlines United Express operations.

In 1994, Mesa acquired Pittsburgh-based Crown Airways. Using the assets from Crown Airways, Mesa set up Liberty Express Airlines with a Pittsburgh hub operating as USAir Express.

In March 1995, Mesa took delivery of its first two regional jets, the Fokker 70, a smaller version of the Fokker 100 jetliner. Mesa created Desert Sun Airlines and operated the two jets from a Phoenix hub to Des Moines and Spokane as America West Express.

Reorganization

As Mesa acquired air carriers or expanded by creating new airlines, it grew in a seemingly haphazard manner. From 1989 through 1995, Mesa had grown from one airline with hubs in Albuquerque, Denver, and Phoenix to six separate airlines with hubs throughout the country, though it had as many as eight airlines prior to 1995. Rather than integrating each new acquisition and airline into one integrated company, Mesa continued operating each individual airline independently, with separate labor groups, separate flight, maintenance, and marketing operations, and separate codeshare agreements. This resulted in an unwieldy corporate structure.

In 1992, Mesa created Mesa Holdings Corp to manage the existing Mesa Airlines and its acquisitions. It resulted in the following subsidiaries:

Air Midwest (Kansas City)

Mesa Airlines

America West Express (Phoenix)

FloridaGulf Airlines (Tampa)

Mesa Airlines (Albuquerque)

United Express (Denver)

Skyway Airlines (Milwaukee)

WestAir Commuter Airlines (Los Angeles, San Francisco, Portland, and Seattle)

San Juan Pilot Training (forerunner to Mesa Pilot Development)

Desert Turbine Services

In 1995, Mesa Holdings Corp was renamed Mesa Air Group, and Mesa Airlines was renamed Mountain West Airlines. Mesa Air Group now consisted of the following six airlines and subsidiaries:

Air Midwest (Kansas City/USAir Express)

Desert Sun Airlines (Phoenix/America West Express)

FloridaGulf Airlines (Tampa, Orlando, New Orleans, Boston, Philadelphia/USAir Express)

Liberty Express Airlines (Pittsburgh/USAir Express)

Mountain West Airlines, operating as:

Mesa Airlines (Albuquerque)

United Express (Denver, Los Angeles (former CalPac), Portland, Seattle)

America West Express (Phoenix)

WestAir Commuter Airlines (Los Angeles, San Francisco, Portland, Seattle/United Express)

Desert Turbine Services

Four Corners Aviation

Mesa Pilot Development

Regional Aircraft Services

In 1996, further company reorganization consolidated the separate flight dispatch functions of Desert Sun, FloridaGulf, and Mountain West airlines into one location in Farmington. All flight training facilities and human resources were centralized in Fort Worth. Since the mergers had created a diverse mix of aircraft types, Mesa proceeded to simplify the number of aircraft types operated from six (Short 360, British Aerospace BAe Jetstream 31, Embraer EMB-120 Brasilia, Beechcraft 1900, de Havilland Canada DHC-8 Dash 8, Fokker 70) to three (B1900, Dash 8, Canadair CRJ). Mesa relocated aircraft to place all airplanes of the same type in a base, with the Jetstreams and Brasilias flying in the West and the B1900s flying elsewhere. This also allowed the consolidation of maintenance facilities, since the facilities no longer needed to service all the different types of aircraft Mesa operated. To replace the Fokker aircraft, Mesa signed an agreement with Bombardier to purchase 16 Canadair Regional Jets (CRJ) with options for 32 more.

The six pilot groups had voted to unionize in 1994. In 1996, the pilot groups of the six airlines were merged into one common seniority list, and under the Air Line Pilots Association (ALPA) representation, the pilots and Mesa negotiated and ratified a five-year collective bargaining agreement.

When Mesa started taking deliveries of the CRJ in 1997, it returned to two Fokker 70 jets and placed the CRJs in service in Phoenix. Mesa started an independent hub providing CRJ service from Fort Worth Meacham to Houston, San Antonio, Austin, and from Colorado Springs to Nashville and San Antonio. This effort proved to be unsuccessful and the service from Fort Worth ended in less than a year.

Difficulties and loss of the United codeshare

Mesa and United entered into discussions in July 1997 to renew WestAir's codeshare agreement, which was due to expire in May 1998. Mesa and United could not agree on new terms. As negotiations delayed into the summer, United started awarding WestAir's routes to SkyWest Airlines. Finally with negotiations at an impasse, United announced in November 1997 that it would not renew the codeshare with WestAir. Mesa attempted to reengage United and ask United to reconsider to no avail.

Mesa experienced many customer complaints regarding its Denver United Express operation. The level of complaints resulted in a Congressional inquiry of the airline's performance. Mesa experienced increased costs the Denver hub as a result of moving from Denver Stapleton airport to the new Denver International Airport and as a result of a decrease in the average fare Mesa received from United. In efforts to reduce its exposure to the high costs and mounting losses, Mesa announced that it would reduce and terminate service from its Denver hub in September 1997. United charged that the reduction and termination of service was a material breach of the codeshare agreement. Naturally Mesa disagreed. Again, as with WestAir, agreement could not be reached and United and Mesa mutually agreed to terminate the codeshare.

The effect of the codeshare termination with WestAir and Mesa was immediate. The termination put 87 (21 Jetstreams, 29 Brasilias, and 37 Beech 1900s) of Mesa's 184 aircraft out of service or 47% of its total aircraft. Mesa took immediate steps, parking the Jetstreams and Brasilias. It sold 10 Brasilias to Skywest. Mesa exercised the option to purchase 16 additional CRJs and traded in the remaining Brasilias to Bombardier for CRJs. Mesa sold 24 Beech 1900s to Great Lakes, and returned the remaining Beech 1900s to Beechcraft/Raytheon. WestAir ceased operations in 1998.

Mesa experienced difficulties with its other two codeshares as well. Flight crew shortages and scheduling problems resulted in the cancellation of many flights. From October 1997 to January 1998, Mesa parked aircraft and canceled flights to alleviate the crew shortage problem. Part of the crew shortage problem was related to the consolidation of flight operations in Farmington, and the training associated with transitioning the air carrier from a Part 135 operator to a Part 121 operator as required by a FAA mandate. America West canceled its codeshare with Mesa in 1997.

Turnaround

In 1998, Jonathan Ornstein was appointed CEO of Mesa Air Group. Ornstein had been Risley's assistant from 1989 to 1995 during Mesa's initial expansion. Larry Risley remained on Mesa's board of directors. All corporate officers were replaced and the company headquarters was relocated from Farmington to Phoenix. The flight training and human resources departments were also moved to Phoenix. Its plan to return to profitability focused on several fronts: its aircraft, codeshares, and customer service.

One of Mesa's problems during the turnaround was its fleet of over 180 turboprops. It began consolidating all of its remaining Beechcraft 1900 turboprops into Air Midwest, completed in 2000. It embarked on a plan to reequip with jet aircraft. In 1999, Mesa arranged to purchase 36 Embraer 145 jets with options for 64 additional ERJs. In 2001, Mesa arranged to purchase 20 CRJ-700s and 20 CRJ-900s with options for 80 additional CRJ-700/900s. Five of the CRJ-700 orders were subsequently converted to CRJ-900s. As Mesa took delivery of the larger CRJ-700s and CRJ-900s, scope restrictions with US Airways prevented Mesa from operating the larger aircraft in its Mesa Airlines subsidiary. Mesa created a separate subsidiary, called Freedom Airlines to operate these aircraft. As the scope restriction at US Airways was removed during US Airways' bankruptcy reorganization and after Mesa settled with its pilot union regarding operating Freedom as a separate air carrier, Freedom's aircraft and pilots were merged back into Mesa Airlines in 2003.

As Mesa completed its restructuring, it proceeded to reestablish codeshares. In 1998, it negotiated a new codeshare with America West and expanded its existing one with USAir. In 2001, Mesa reestablished a codeshare agreement with Midwest Express for its Air Midwest Kansas City hub. Also that same year, Mesa negotiated an agreement with Frontier to operate as Frontier JetExpress out of Denver. The Frontier codeshare ended in 2003. In 2003, Mesa reestablished a codeshare agreement with United, operating as United Express. In 2005, Mesa negotiated a codeshare agreement with Delta for Freedom Airlines to operate as a Delta Connection carrier.

By 1999, Mesa returned to profitability. Mesa acquired CCAir and its USAir Express codeshare in 1999. It continued to operate CCAir as a separate operation. By 2002, CCAir ceased operations due to high costs and its assets and employees were absorbed into Mesa. The latest merger attempt was in 2003, when Mesa offered to acquire Atlantic Coast Airlines. Its offer was refused, and ACA went on to operate independently as Independence Air and later ceased operations in January, 2006. In 2006, Mesa began operating in Hawaii under the brand go! and established a codeshare agreement with Mokulele Airlines, where Mokulele will operate as a go! Express carrier.

Hawaiian market entrance and related lawsuits

In 2004, Mesa Air Group met with Hawaiian Airlines and Aloha Airlines, both in bankruptcy at the time, and reviewed operational records and forecasts, but ultimately decided not to acquire or invest in either carrier. In 2006, after Mesa announced plans for its "go!" sub-branded airline in Hawaii, Hawaiian Airlines sued to block the launch, claiming that Mesa had violated a confidentiality agreement. Aloha Airlines filed a similar suit against Mesa later that year.

In September 2007, the CFO of Mesa Air Group was placed on administrative suspension as irregularities were investigated during the Hawaiian Airlines case. In an announcement, Mesa Air Group CEO Jonathan Ornstein assured shareholders and investors that "the alleged misconduct does not involve the financial controls, financial statements or operations of the Company." The judge overseeing the Mesa go! case, however, ruled Mesa destroyed evidence. and ordered Mesa Air Group to pay an $80 million interest bearing settlement with interest, along with legal fees, to Hawaiian Airlines.

Aloha Airlines ceased operations in March 2008, and the Aloha Airlines suit was settled in November 2008. Mesa agreed to pay $2 million, 10% of Mesa's common stock, and provide travel benefits on go! for former Aloha employees. Initially the settlement agreement included a provision whereby Mesa Air Group could license the Aloha name, but a federal judge rejected that agreement on the basis of Mesa's alleged misconduct in the Hawaii market.

Mokulele acquisition

In October 2009, it was announced Mesa Air Group's subsidiary "go!" would be taking over all of the Hawaii flying done by Mokulele Airlines and R.A.H.'s Shuttle America. The combine operation was rebranded as go! Mokulele. Mokulele operated a fleet of 4 Cessna Caravan aircraft that were retained in the combined operation, but the Embraer 170 aircraft operated by Shuttle America on behalf of Mokulele were removed from Hawaii service.

Bankruptcy filing

On January 5, 2010, Mesa Air Group filed for Chapter 11 bankruptcy protection in a New York City bankruptcy court. The company indicated that it will continue operations as normal. The company's Go! Mokulele subsidiary was not included in the filing, Per bankruptcy records, upon Mesa Air Group's exit from bankruptcy, US Airways Group will own a 10 percent stake in the operation. The company emerged from bankruptcy protection on March 1, 2011, as a privately held company with a new board of directors and having eliminated 100 excess aircraft.

Mokulele divestiture

In December 2011, it was announced Mesa Air Group had divested itself of Mokulele's Cessna Caravan aircraft and operations. In June 2012, Mesa began the process of dropping the "go! Mokulele" name and reverting to "go!".

Merger with Republic Airways

On April 7, 2025, Republic Airways Holdings announced that it would acquire Mesa in an all-stock merger. Under the terms of the agreement, Republic shareholders will own approximately 88% of the merged company, while Mesa shareholders will retain between 6% and 12%. The merger is expected to close in the third or fourth quarter of 2025, pending approval from shareholders and regulators.

Following the merger, the combined company will operate approximately 310 Embraer 170/175 aircraft and more than 1,250 daily departures. Republic will continue operating under agreements with American Airlines, Delta Air Lines, and United Airlines, while Mesa will fly under a 10-year agreement with United.

Prior to the merger, Mesa had scaled back its operations to about 60 Embraer 175 aircraft, all of which were leased from United. The merger would leave Republic and SkyWest Airlines as the two largest remaining independent regional airlines in the United States.

On November 25, 2025, Republic Airways Holdings Inc., then the parent company of Republic, announced that the transaction had been completed.

Labor groups

Mesa Air Group labor groups are represented by several labor organizations:

Flight attendants are represented by the Association of Flight Attendants (AFA). Its contract became amendable in June 2006. Mesa and its flight attendants are currently in contract negotiations.

Pilots from its three airline subsidiaries are merged in a single common seniority list and are represented by the Air Line Pilots Association (ALPA). Its contract was ratified in December 2008 and becomes amenable in December 2010.

Mesa Angels Foundation

Mesa Air Group, Inc. sponsors the Mesa Angels Foundation which provides financial assistance to those Mesa employees and immediate family members in critical financial need due to extraordinary circumstances such as medical emergencies, natural disasters or other unforeseen life-changing events. Mesa Angels Foundation also supports charitable organizations through donations in the communities Mesa serves.

Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗

Wikidata ↗

RJET Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

Price
$19.80
Market Cap
$903M
P/E (TTM)
10.6
EPS (TTM)
$1.87
Revenue (TTM)
$1.68B
Div Yield
ROE
11.8%
Debt/Equity
52W Range
$15 – $27

RJET Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

10-Year Performance Revenue, net income, margins and EPS trends

Revenue & Net Income $1.68B
10-point trend, +146.0%
2018-09-30 2025-12-31
EPS $1.87
10-point trend, +41.7%
2018-09-30 2025-12-31
Free Cash Flow $-75M
6-point trend, -7984.2%
2018-09-30 2025-12-31
Margins 4.5%

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric
5Y trend
RJET
Peer Median
P/E (TTM)
5-point trend, -96.3%
10.6
13.0
P/S (TTM)
5-point trend, -88.6%
0.5
0.4
P/B
5-point trend, -91.5%
0.7
2.2
Price / FCF
5-point trend, -109.3%
-12.1

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Metric
5Y trend
RJET
Peer Median
Operating Margin
5-point trend, -40.1%
10.0%
Net Profit Margin
5-point trend, -30.9%
4.5%
-9.6%
ROA
5-point trend, -22.5%
2.5%
-5.3%
ROE
5-point trend, +4.1%
11.8%
-88.6%
ROIC
5-point trend, +18.5%
8.5%

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric
5Y trend
RJET
Peer Median
Current Ratio
5-point trend, +53.1%
0.9
0.5
Quick Ratio
5-point trend, +44.2%
0.5

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Metric
5Y trend
RJET
Peer Median
Revenue YoY
5-point trend, +236.6%
251.9%
Revenue CAGR 3Y
5-point trend, +236.6%
46.7%
Revenue CAGR 5Y
5-point trend, +236.6%
25.2%

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Metric
5Y trend
RJET
Peer Median
EPS (Diluted)
5-point trend, +161.5%
$1.87

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric
5Y trend
RJET
Peer Median

RJET Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

SELL 6 analysts
  • Strong Buy 0 0.0%
  • Buy 0 0.0%
  • Hold 3 50.0%
  • Sell 1 16.7%
  • Strong Sell 2 33.3%

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

Avg Surprise
-3.0%
Period EPS Actual EPS Est Surprise
March 31, 2026 $0.73
March 31, 2025 $-0.10
June 30, 2023 $-10.05 $-4.97 -5.1%
March 31, 2023 $-7.95 $-4.13 -3.8%
Sept. 30, 2022 $-5.55 $-5.36 -0.20%

Peer comparison (GICS sub-industry) Key metrics vs sector peers

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
RJET $840M 9.8 251.9% 4.5% 11.8%
ALK $5.81B 60.6 21.3% 0.70% 2.5%
SKYW $8.46B 9.7 15.0% 10.5% 16.1%
ALGT -34.4 3.7%
JBLU $1.68B -2.7 -2.3% -6.6% -26.6%
ULCC $1.08B -7.8 -1.4% -3.7% -27.5%
UP $474M -1.6 -7.0% -40.0% 99.0%
SRFM -0.6 -10.8%
DAL $45.80B 9.1 2.8% 7.9% 26.1%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

Income Statement 15
Annual Income Statement data for RJET
Metric Trend 2025202420232022202120202019201820172016
Revenue 10-point trend, +185.2% $1.68B $1.47B $1.43B $531M $504M $545M $723M $682M $644M $588M
SG&A Expense 7-point trend, +4.2% · · · $44M $50M $52M $51M $54M $39M $42M
Operating Expenses 10-point trend, +184.0% $1.51B $1.34B $1.29B $716M $440M $465M $602M $609M $543M $531M
Operating Income 10-point trend, +196.5% $168M $137M $135M $-185M $63M $80M $121M $73M $100M $57M
Interest Expense 7-point trend, +8.2% · · · $35M $35M $44M $56M $57M $46M $33M
Interest Income 7-point trend, -57.2% · · · $139.0K $365.0K $105.0K $2M $114.0K $32.0K $325.0K
Other Non-op 10-point trend, -14509.4% $-55M $-50M $-47M $-801.0K $401.0K $843.0K $-19.0K $-66.0K $-514.0K $381.0K
Pretax Income 10-point trend, +356.4% $113M $87M $88M $-235M $22M $37M $63M $16M $54M $25M
Income Tax 10-point trend, +274.8% $37M $22M $33M $-52M $6M $10M $16M $-17M $21M $10M
Net Income 10-point trend, +410.7% $76M $65M $55M $-183M $17M $27M $48M $33M $33M $15M
EPS (Basic) 10-point trend, +21.8% $1.90 $1.65 $1.40 $-5.06 $0.46 $0.78 $1.37 $1.34 $1.41 $1.56
EPS (Diluted) 10-point trend, +201.6% $1.87 $1.62 $1.38 $-5.06 $0.43 $0.78 $1.36 $1.32 $1.40 $0.62
Shares (Basic) 10-point trend, +318.5% 40,000,000 39,100,000 39,100,000 36,133,000 35,713,000 35,237,000 34,764,000 24,826,000 23,201,000 9,558,000
Shares (Diluted) 10-point trend, +69.0% 40,700,000 39,800,000 39,700,000 36,133,000 38,843,000 35,308,000 35,064,000 25,257,000 23,370,000 24,082,000
EBITDA 6-point trend, +305.5% $295M · · $-190M $63M $80M $121M $73M · ·
Balance Sheet 30
Annual Balance Sheet data for RJET
Metric Trend 2025202420232022202120202019201820172016
Cash & Equivalents 9-point trend, +256.4% $134M $110M · $58M $121M $99M $69M $103M $57M $38M
Short-term Investments 5-point trend, +162200000.00 $162M $192M · · · · $0 $20M $0 ·
Receivables 7-point trend, -40.7% · $5M · $4M $3M $14M $23M $14M $9M ·
Inventory 2-point trend, +40.5% $88M $63M · · · · · · · ·
Prepaid Expense 7-point trend, -95.8% · $3M · $7M $7M $16M $41M $41M $62M ·
Other Current Assets 6-point trend, -82.3% · · · $1M $1M $12M $3M $4M $6M ·
Current Assets 8-point trend, +270.8% $541M $453M · $98M $158M $156M $158M $198M $146M ·
PP&E (Net) 8-point trend, +102.1% $2.41B $2.11B · $865M $1.15B $1.21B $1.27B $1.25B $1.19B ·
PP&E (Gross) 8-point trend, +171.6% $3.79B $3.37B · $1.27B $1.62B $1.61B $1.59B $1.51B $1.40B ·
Accum. Depreciation 8-point trend, +576.9% $1.38B $1.26B · $405M $470M $394M $318M $260M $204M ·
Goodwill 3-point trend, +5733.3% $122M $2M $2M · · · · · · ·
Intangibles 6-point trend, -67.2% · · · $4M $7M $8M $10M $11M $12M ·
Other Non-current Assets 7-point trend, +20.0% · $7M · $16M $36M $742.0K $9M $10M $6M ·
Total Assets 8-point trend, +141.3% $3.28B $2.77B · $1.12B $1.46B $1.50B $1.45B $1.47B $1.36B ·
Accounts Payable 7-point trend, +36.2% · $61M · $59M $61M $53M $50M $54M $45M ·
Accrued Liabilities 2-point trend, +30.1% $220M $169M · · · · · · · ·
Short-term Debt · · · $97M · · · · · ·
Current Liabilities 8-point trend, +163.2% $574M $489M · $214M $258M $353M $257M $251M $218M ·
Capital Leases 5-point trend, +98.1% $124M $118M · $17M $34M $63M · · · ·
Deferred Tax 8-point trend, +291.4% $221M $206M · $18M $70M $64M $55M $40M $56M ·
Other Non-current Liabilities 7-point trend, -32.8% · $27M · $29M $35M $1M $24M $31M $40M ·
Total Liabilities 8-point trend, +71.6% $1.95B $1.65B · $807M $969M $1.04B $1.03B $1.10B $1.14B ·
Long-term Debt 8-point trend, +7.2% $1.03B $227M · $600M $651M $732M $843M $930M $957M ·
Total Debt 5-point trend, -23.9% · · · $697M $651M $732M $843M $915M · ·
Common Stock Flat — no change across 2 periods $0 $0 · · · · · · · ·
Paid-in Capital 2-point trend, +29.7% $620M $478M · · · · · · · ·
Retained Earnings 8-point trend, +557.4% $708M $632M · $49M $232M $215M $187M $140M $108M ·
Stockholders' Equity 10-point trend, +602.3% $1.33B $1.11B $1.05B $308M $488M $458M $426M $374M $222M $189M
Liabilities + Equity 8-point trend, +141.3% $3.28B $2.77B · $1.12B $1.46B $1.50B $1.45B $1.47B $1.36B ·
Shares Outstanding 9-point trend, +304.8% 45,713,286 38,993,300 38,993,300 36,376,897 35,958,759 35,526,918 31,413,287 23,902,903 11,294,083 ·
Cash Flow 18
Annual Cash Flow data for RJET
Metric Trend 2025202420232022202120202019201820172016
D&A 10-point trend, +174.4% $126M $117M $159M $82M $83M $82M $78M $65M $61M $46M
Stock-based Comp 10-point trend, +1206.6% $20M $1M $2M $3M $3M $4M $6M $13M $1M $2M
Deferred Tax 10-point trend, +256.4% $34M $17M $29M $-52M $6M $9M $16M $-18M $21M $10M
Amort. of Intangibles 7-point trend, +150.0% · · · $1M $1M $2M $2M $400.0K $400.0K $400.0K
Other Non-cash $65M · · · · · · · · ·
Operating Cash Flow 10-point trend, +208.2% $322M $226M $329M $13M $133M $175M $152M $119M $75M $104M
CapEx 10-point trend, -19.0% $397M $227M $378M $41M $17M $27M $125M $118M $84M $490M
Investing Cash Flow 10-point trend, +28.6% $-351M $-106M $-421M $1M $-33M $-27M $-105M $-139M $-84M $-491M
Debt Issued 7-point trend, -91.2% · · · $40M $195M $23M $172M $188M $186M $453M
Net Debt Issued 5-point trend, -78.8% · · · $40M $195M $23M $172M $188M · ·
Stock Issued · · · · · · · $124M · ·
Stock Repurchased 7-point trend, -67.8% · · · $455.0K $1M $586.0K $2M $5M $1M $1M
Net Stock Activity 5-point trend, -100.4% · · · $-455.0K $-1M $-586.0K $-2M $119M · ·
Financing Cash Flow 10-point trend, -85.0% $55M $-102M $107M $-78M $-78M $-118M $-81M $66M $28M $366M
Net Change in Cash 10-point trend, +224.1% $26M $18M $15M $-63M $21M $30M $-35M $47M $19M $-21M
Taxes Paid 10-point trend, +1328.6% $3M $6M $3M $487.0K $404.0K $398.0K $419.0K $385.0K $332.0K $196.0K
Free Cash Flow 6-point trend, -7984.2% $-75M · · $-27M $116M $148M $26M $950.0K · ·
Levered FCF 5-point trend, +53.7% · · · $-55M $90M $115M $-16M $-119M · ·
Profitability 7
Annual Profitability data for RJET
Metric Trend 2025202420232022202120202019201820172016
Operating Margin 6-point trend, -5.8% 10.0% · · -35.7% 12.6% 14.7% 16.8% 10.7% · ·
Net Margin 6-point trend, -6.8% 4.5% · · -34.4% 3.3% 5.0% 6.6% 4.9% · ·
Pretax Margin 6-point trend, +191.4% 6.8% · · -44.2% 4.5% 6.8% 8.8% 2.3% · ·
EBITDA Margin 6-point trend, +64.8% 17.6% · · -35.7% 12.6% 14.7% 16.8% 10.7% · ·
ROA 6-point trend, +7.2% 2.5% · · -14.2% 1.1% 1.9% 3.2% 2.4% · ·
ROE 6-point trend, +7.8% 11.8% · · -50.0% 3.4% 6.1% 11.3% 11.0% · ·
ROIC 6-point trend, -28.1% 8.5% · · -14.7% 4.1% 5.0% 7.2% 11.8% · ·
Liquidity & Solvency 5
Annual Liquidity & Solvency data for RJET
Metric Trend 2025202420232022202120202019201820172016
Current Ratio 6-point trend, +19.6% 0.9 · · 0.5 0.6 0.4 0.6 0.8 · ·
Quick Ratio 6-point trend, -5.6% 0.5 · · 0.3 0.5 0.3 0.4 0.5 · ·
Debt / Equity 5-point trend, -7.5% · · · 2.3 1.3 1.6 2.0 2.4 · ·
LT Debt / Equity 5-point trend, -19.7% · · · 1.6 1.1 1.2 1.6 2.0 · ·
Interest Coverage 5-point trend, -520.8% · · · -5.4 1.8 1.8 2.2 1.3 · ·
Efficiency 2
Annual Efficiency data for RJET
Metric Trend 2025202420232022202120202019201820172016
Asset Turnover 6-point trend, +15.2% 0.6 · · 0.4 0.3 0.4 0.5 0.5 · ·
Receivables Turnover 5-point trend, +152.3% · · · 148.6 59.7 29.6 38.7 58.9 · ·
Per Share 5
Annual Per Share data for RJET
Metric Trend 2025202420232022202120202019201820172016
Book Value / Share 6-point trend, +85.5% $29.06 · · $8.47 $13.57 $12.89 $13.56 $15.67 · ·
Revenue / Share 6-point trend, +52.1% $41.19 · · $14.70 $12.96 $15.44 $20.63 $27.08 · ·
Cash Flow / Share 6-point trend, +67.4% $7.91 · · $0.37 $3.42 $4.95 $4.33 $4.73 · ·
Cash / Share 6-point trend, -32.0% $2.94 · · $1.59 $3.35 $2.80 $2.19 $4.32 · ·
EPS (TTM) 6-point trend, +41.7% $1.87 · · $-5.06 $0.43 $0.78 $1.36 $1.32 · ·
Growth Rates 9
Annual Growth Rates data for RJET
Metric Trend 2025202420232022202120202019201820172016
Revenue YoY 5-point trend, +3410.1% 251.9% 195.9% 169.1% 5.4% -7.6% · · · · ·
Revenue CAGR 3Y 3-point trend, +23.3% 46.7% 43.0% 37.9% · · · · · · ·
Revenue CAGR 5Y 25.2% · · · · · · · · ·
EPS YoY · · · · -44.9% · · · · ·
EPS CAGR 3Y 2-point trend, +165.4% · 55.6% 20.9% · · · · · · ·
EPS CAGR 5Y 19.1% · · · · · · · · ·
Net Income YoY · · · · -39.6% · · · · ·
Net Income CAGR 3Y 2-point trend, +121.4% · 57.3% 25.9% · · · · · · ·
Net Income CAGR 5Y 22.6% · · · · · · · · ·
Valuation (TTM) 14
Annual Valuation (TTM) data for RJET
Metric Trend 2025202420232022202120202019201820172016
Revenue TTM 6-point trend, +146.0% $1.68B · · $531M $504M $545M $723M $682M · ·
Net Income TTM 6-point trend, +129.1% $76M · · $-183M $17M $27M $48M $33M · ·
Market Cap 6-point trend, -83.1% $840M · · $900M $4.13B $1.57B $3.18B $4.97B · ·
Enterprise Value 5-point trend, -73.3% · · · $1.54B $4.66B $2.20B $3.96B $5.76B · ·
P/E 6-point trend, -93.8% 9.8 · · -4.9 267.2 56.7 74.4 157.5 · ·
P/S 6-point trend, -93.1% 0.5 · · 1.7 8.2 2.9 4.4 7.3 · ·
P/B 6-point trend, -95.2% 0.6 · · 2.9 8.5 3.4 7.5 13.3 · ·
P / Tangible Book 4-point trend, -80.1% 0.7 · · 3.0 8.6 3.5 · · · ·
P / Cash Flow 6-point trend, -93.8% 2.6 · · 67.4 31.1 9.0 21.0 41.8 · ·
P / FCF 6-point trend, -100.2% -11.2 · · -32.8 35.7 10.6 120.8 5231.0 · ·
EV / EBITDA 5-point trend, -110.2% · · · -8.1 73.8 27.5 32.6 79.3 · ·
EV / FCF 5-point trend, -100.9% · · · -56.1 40.3 14.9 150.2 6064.8 · ·
EV / Revenue 5-point trend, -65.7% · · · 2.9 9.3 4.0 5.5 8.5 · ·
Earnings Yield 6-point trend, +1515.9% 10.2% · · -20.4% 0.37% 1.8% 1.3% 0.63% · ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

Income Statement
2025-12-312024-12-312024-09-302023-12-312023-09-30
Revenue $1.68B$1.47B$476M$1.43B$498M
Operating Margin % 10.0%
Net Income $76M$65M$-91M$55M$-120M
Diluted EPS $1.87$1.62$-2.21$1.38$-3.04
Balance Sheet
2025-12-312024-12-312024-09-302023-12-312023-09-30
Current Ratio 0.9
Quick Ratio 0.5
Cash Flow
2025-12-312024-12-312024-09-302023-12-312023-09-30
Free Cash Flow $-75M

My Metrics Your personal watchlist — selected rows from Full Fundamentals

📊

Pick the metrics that matter to you — click the ➕ next to any row in Full Fundamentals above.

Your selection is saved and follows you across all tickers.

Institutional owners (13F) 62 filers · $807.2M total · As of June 30, 2026

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
27 (+12 vs prior Q) 10 (+5 vs prior Q) 15 (-3 vs prior Q) 9 (+4 vs prior Q) +860K

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
United Airlines Holdings, Inc. $220,410,552 10,490,745 27.31% Shares
American Airlines Group Inc. $204,971,228 9,755,889 25.39% Shares
DELTA AIR LINES, INC. $142,250,327 6,770,601 17.62% Shares
CONTRARIAN CAPITAL MANAGEMENT, L.L.C. $91,346,354 4,347,756 11.32% Shares
Owl Creek Asset Management, L.P. $89,895,256 4,278,689 11.14% Shares
PAR CAPITAL MANAGEMENT INC $10,648,792 506,844 1.32% Shares
GEODE CAPITAL MANAGEMENT, LLC $7,909,048 376,307 0.98% Shares
DONALD SMITH & CO., INC. $5,738,440 273,129 0.71% Shares
VANGUARD CAPITAL MANAGEMENT LLC $4,986,492 237,339 0.62% Shares
STATE STREET CORP $3,958,074 188,390 0.49% Shares
VANGUARD FIDUCIARY TRUST CO $2,469,620 117,545 0.31% Shares
Pinnacle Holdings, LLC $2,452,634 116,737 0.30% Shares
VANGUARD PORTFOLIO MANAGEMENT LLC $2,362,406 112,442 0.29% Shares
CastleKnight Management LP $2,330,009 110,900 0.29% Shares
BANK OF AMERICA CORP /DE/ $1,980,150 94,248 0.25% Shares
LAZARD ASSET MANAGEMENT LLC $1,754,650 83,515 0.22% Shares
Orvieto Partners, L.P. $1,735,468 82,602 0.22% Shares
AMERICAN CENTURY COMPANIES INC $1,533,331 72,981 0.19% Shares
UBS Group AG $1,481,898 70,533 0.18% Shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC $1,112,942 52,972 0.14% Shares
XTX Topco Ltd $626,749 29,831 0.08% Shares
SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC $616,854 29,360 0.08% Shares
BlackRock, Inc. $538,045 25,609 0.07% Shares
BNP PARIBAS FINANCIAL MARKETS $427,448 20,345 0.05% Shares
Nuveen, LLC $392,215 18,668 0.05% Shares
GOLDMAN SACHS GROUP INC $362,486 17,253 0.04% Shares
RHUMBLINE ADVISERS $332,645 15,833 0.04% Shares
DEUTSCHE BANK AG\ $291,871 13,892 0.04% Shares
Bank of New York Mellon Corp $259,305 12,342 0.03% Shares
WELLS FARGO & COMPANY/MN $250,586 11,927 0.03% Shares
RENAISSANCE TECHNOLOGIES LLC $231,761 11,031 0.03% Shares
VANGUARD GROUP INC $181,790 9,896 0.02% Shares
MetLife Investment Management, LLC $179,762 8,556 0.02% Shares
Vanguard Global Advisers, LLC $150,495 7,163 0.02% Shares
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. $137,174 6,529 0.02% Shares
CITIGROUP INC $132,636 6,313 0.02% Shares
INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC $126,720 5,883 0.02% Shares
NEW YORK STATE COMMON RETIREMENT FUND $117,656 5,600 0.01% Shares
JPMORGAN CHASE & CO $109,796 5,903 0.01% Shares
Police & Firemen's Retirement System of New Jersey $88,242 4,200 0.01% Shares
STRS OHIO $71,434 3,400 0.01% Shares
NORTHERN TRUST CORP $46,978 2,236 0.01% Shares
BARCLAYS PLC $43,553 2,073 0.01% Shares
Legal & General Group Plc $29,148 1,390 0.00% Shares
Ameritas Investment Partners, Inc. $27,145 1,292 0.00% Shares
Russell Investments Group, Ltd. $23,909 1,138 0.00% Shares
Tower Research Capital LLC (TRC) $16,241 773 0.00% Shares
ROYAL BANK OF CANADA $13,000 629 0.00% Shares
State of Wyoming $7,417 353 0.00% Shares
Sterling Capital Management LLC $6,030 287 0.00% Shares
Owl Creek Wealth Partners LLC $3,992 190 0.00% Shares
SIGNATUREFD, LLC $3,740 178 0.00% Shares
TUCKER ASSET MANAGEMENT LLC $2,902 158 0.00% Shares
MORGAN STANLEY $1,387 66 0.00% Shares
MERCER GLOBAL ADVISORS INC /ADV $1,387 66 0.00% Shares
SBI Securities Co., Ltd. $1,177 56 0.00% Shares
Allworth Financial LP $988 47 0.00% Shares
FMR LLC $903 43 0.00% Shares
GROUP ONE TRADING LLC $462 22 0.00% Shares
PRICE T ROWE ASSOCIATES INC /MD/ $246 11,688 0.00% Shares
Caitong International Asset Management Co., Ltd $84 4 0.00% Shares
CoreCap Advisors, LLC $63 3 0.00% Shares

Company insiders 46 insiders · 18 officers · 24 directors

Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Jonathan G Ornstein Chief Executive Officer Nov. 25, 2025 A 93,186 0 0 $0
Joseph Allman Executive Vice President & CFO June 15, 2026 A 227,761 0 0 $0
Michael Lotz President & CFO Nov. 25, 2025 A 58,796 0 0 $0
Daniel Torque Zubeck CFO & Treasurer March 14, 2023 A 17,740 0 0 $0
George Murnane III Executive VP & CFO April 1, 2007 A 42,302 0 0 $0
Matthew Koscal Title: President and Chief Commercial Officer May 29, 2026 F 374,020 0 0 $0
Gregory D Stephens President - Air Midwest, Inc. Jan. 16, 2004 A 0 0 0 $0
Paul Kinstedt Executive Vice President & COO June 15, 2026 A 225,793 0 0 $0
Bradford R Rich EVP & Chief Operating Officer March 20, 2023 M 68,246 0 0 $0
Michael L Ferverda COO Jan. 21, 2019 M 17,204 0 0 $0
Paul Foley COO Oct. 20, 2008 A 100,000 0 0 $0
Chad M. Pulley Title: Senior Vice President, General Counsel, and Secretary May 29, 2026 F 178,521 0 0 $0
Scott Hornback Title: VP, Finance and Accounting; Principal Accounting Officer May 29, 2026 F 87,235 0 0 $0
Brian S Gillman EVP/GC/Secretary Nov. 25, 2025 F 16,643 0 0 $0
William Hoke Vice President - Finance April 11, 2007 A 5,000 0 0 $0
Carter Leake Senior Vice President March 22, 2006 M 0 0 0 $0
Mickey Moman Vice President of Operations Jan. 16, 2004 A 0 0 $0
Don Harrison Vice President of Maintenance Aug. 19, 2003 M 0 0 0 $0
David J Grizzle Director June 15, 2026 F 218,795 0 0 $0
Ruth L. Okediji Director May 21, 2026 A 34,205 0 0 $0
Michael C. Lenz Director May 21, 2026 A 15,410 0 0 $0
Ellen N. Artist Director May 21, 2026 A 18,043 0 0 $0
Glenn S Johnson Director May 21, 2026 A 28,746 0 0 $0
James E Sweetnam Director May 21, 2026 A 34,205 0 0 $0
Barry W Ridings Director May 21, 2026 A 34,205 0 0 $0
Spyridon Skiados Director Nov. 25, 2025 A 9,762 0 0 $0
Dana J Lockhart Director Nov. 25, 2025 A 11,615 0 0 $0
Harvey W Schiller Director Nov. 25, 2025 A 9,834 0 0 $0
Mitchell I Gordon Director Nov. 25, 2025 A 11,035 0 0 $0
Daniel Jerome Mchugh Director Feb. 23, 2023 A 47,194 0 0 $0
Grant G Lyon Director Feb. 3, 2020 A 62,312 0 0 $0
Giacomo Picco Director April 9, 2019 M 14,647 0 0 $0
Daniel Joseph Altobello Director April 9, 2019 M 51,319 0 0 $0
Peter Nostrand Director Feb. 25, 2009 P 92,163 0 0 $0
Maurice A Parker Director March 12, 2008 A 22,163 0 0 $0
Carlos E Bonilla Director March 3, 2008 A 15,163 0 0 $0
Richard R Thayer Director March 3, 2008 A 17,663 0 0 $0
Robert Beleson Director March 3, 2008 A 13,663 0 0 $0
Joseph L Manson Director March 3, 2008 A 13,663 0 0 $0
Ronald R Fogleman Director Jan. 10, 2007 M 1,220 0 0 $0
Julie Silcock Director April 1, 2005 A 0 0 $0
James E Swigart Director Sept. 23, 2003 S 101,973 0 0 $0
DEUTSCHE BANK AG\ 10% owner Feb. 18, 2009 S 12,726,422 0 0 $0
Jeff P Poeschl May 2, 2007 M 0 0 0 $0
Robert B Stone June 15, 2004 M 0 0 0 $0
Rodena Turner Bojorquez Jan. 16, 2004 A 0 0 $0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

Activists & 5%+ owners 3 positions

Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.

Filer Filed Stake Status Purpose Filing
United Airlines Holdings, Inc., UNITED AIRLINES, INC. ×6 filings Feb. 5, 2026 22.30% Amendment SEC
Ronald W. Burkle (2) ×2 filings Dec. 28, 2020 Initial filing SEC
Barlow Management, Inc., Jonathan G. Ornstein, George Murnane, III, James E. Swigart Sept. 10, 2001 Initial filing SEC

Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.

ETF ownership Held by 9 ETFs

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
IWC · iShares Trust 0.07% 48,669 SH Aug. 8, 2026 Daily
VTWV · VANGUARD SCOTTSDALE FUNDS 0.02% 12,375 SH Aug. 8, 2026 Daily
IWN · iShares Trust 0.02% 131,823 SH Aug. 8, 2026 Daily
VTWO · VANGUARD SCOTTSDALE FUNDS 0.01% 81,774 SH Aug. 8, 2026 Daily
IWM · iShares Trust 0.01% 338,585 SH Aug. 8, 2026 Daily
AVUV · AMERICAN CENTURY ETF TRUST 0.00% 908 NS May 31, 2026 N-PORT
VXF · VANGUARD INDEX FUNDS 0.00% 237,339 SH Aug. 8, 2026 Daily
VTHR · VANGUARD SCOTTSDALE FUNDS 0.00% 1,229 SH Aug. 8, 2026 Daily
VIS · VANGUARD WORLD FUND 0.00% 17,064 SH Aug. 8, 2026 Daily