Actually, that's not quite how it worked out.
Delta sold ASA to SkyWest.
SkyWest then used ASA to purchase ExpressJet.

 

republic owns like 90% of their airplanes

 

It’s probably closer to 75-80%. All the AA birds are owned by YX. I believe all but 12 of the UA birds and then who knows with DL. At least 30 are/will not be owned (ex-CP frames).

So out of the 215ish aircraft YX will eventually have, I’d say ~50ish aren’t owned.

 

You can get hired at Delta at 21 and still get pancreatic cancer at 42 after your twins got run over by a bus and your wife left you for a girl half your age. Nothing is a guarantee

 

But you hope for the best yet plan for the worst.
Personally, if I was looking at regionals right now owning their own airplanes would be pretty far down on the list. Plenty of BR and CA tail numbers floating around still as well. Most of those were owned by their previous airline.

 

TSA and CP were pure staffing agencies. SKYW, MESA and XY own some / most of the metal and don’t transfer it around at will.

The ability to finance the regional equipment also gives those a leg up in future contracts. AA has plenty of debt and will be happy to have SKYW buy the equipment as they just did.

 

It can cut both ways. If a contract is cancelled you’re assuming airplanes can be shifted at will. It doesn’t work that way. You have to be able to bid on contracts and win them while staying within legacy scope. If you can’t shop those airplanes you still have to pay the leases on them. Or pull a Republic and file for chapter 11 to get out of them. Granted, in their case they couldn’t staff the -145’s. The regional graveyard is littered with companies that owned their own airplanes.
I wouldn’t be surprised to see AW next, but that place has been a dead man walking for a LOOONG time. Nothing against those pilots as they seem like a good group.

 

however it’s easier for a regional to place aircraft under their own name or score contracts if they front money for aircraft.

Those would be aircraft that mainline can operate under their branding without the financial liability of owning those aircraft.

vs

A regional that has to relay on a mainline carrier to front the money for aircraft for them to operate (See TSH going away) with Skywest scoring new flying with buying new aircraft (AA new deal).

 

You’re seeing this because this is currently the industry trend so you assume the last two years is how it will always be. It’s all you know. After seeing this industry for 30 years I’ve seen advantages to both and phases with both. I’ve seen those holding airplanes, such as ACA, not being able to shop them and going under after a short stint of trying to go as an independent.
Regionals don’t just print money to buy airplanes. They have to finance it. They have to find investors willing to purchase those airplanes and finance them. If people feel they can get a greater return on their $ than airplanes they will take the money elsewhere. The cost of operating then goes up. For smaller airlines such as regionals this may be too much to handle.
Legacies now are able to still play regionals off against each other. Look at the AAG WOs. They haven’t combined them and they probably won’t. They will play them off against each other and against the independents. They will never combine them and permit another Comair. Scope will limit the number of aircraft that can be put on line.
Eventually, we will probably get down to each legacy having one or more WO and probably 3 large independent regionals. They will continue to be played against each other. Some will see airplanes fielded, some will see them taken away. But it will be a shell game.

Finally, I would add that when you’re talking about an airline “owning” aircraft you are usually talking about an airline leasing aircraft. Check the registration. Many times you will find a bank or leasing company on the registration. I think K4 was the only company I’ve worked for that owned almost all their aircraft.

 

Yes! Thank you!

Now only if reporters would catch on.