American Airlines has acquired a minority stake in Republic Airways Holdings following Republic’s merger with Mesa Airlines earlier in 2025, adding to a growing pattern of major US carriers taking equity positions in their regional airline partners.
According to a recent filing with the US Securities and Exchange Commission, American received approximately 9.7 million shares in the combined Republic entity, representing about 20.8% ownership. The stake was granted as part of the Republic-Mesa merger, which closed in November 2025. American agreed not to sell the shares for at least 180 days following the transaction.
The move places American alongside its largest competitors, United Airlines and Delta Air Lines, both of which already hold minority stakes in Republic. United owns roughly 7.7 million shares, while Delta holds about 6.7 million. With the new investment, American now holds the largest single stake among the three.
The equity positions reflect a shift in how US airlines manage their regional networks. Rather than relying solely on capacity purchase agreements, the Big Three US airlines are increasingly tying themselves financially to the companies that operate much of their domestic feeder network.
Republic and Mesa together now operate the world’s largest fleet of Embraer regional jets, with nearly 300 E170 and E175 aircraft. The combined carrier flies more than 1,300 daily departures and plays a central role in feeding traffic into major hubs across the United States.
Despite the merger, Republic and Mesa will continue to operate separately for now under their existing operating certificates. Both carriers will maintain current flying arrangements with their airline partners. Republic operates flights for American, United, and Delta, while Mesa continues to fly exclusively for United under the United Express brand.
The Republic-Mesa merger marked one of the most significant consolidations in the US regional airline sector in years. American’s decision to take a sizable position in the combined company underscores how strategically important large regional operators have become to the country’s largest airlines.
American has not announced any operational changes tied to the investment, and the SEC filing does not outline governance rights or board representation. Still, the timing and structure of the deal suggest more than a passive financial interest, particularly as mainline carriers look to secure long-term access to regional capacity.
