Attached files
Consent
of Independent Registered Public Accounting Firm
The Board
of Directors
Republic
Airways Holdings Inc.:
We
consent to the inclusion of our report dated May 26, 2009 in the Form 8-K /A
of Republic Airways Holdings Inc. dated October 1, 2009 with respect to the
consolidated balance sheets of Frontier Airlines Holdings, Inc. (a wholly owned
subsidiary of Republic Airways Holdings Inc.) (the Company) as of March 31, 2009
and 2008, and the related consolidated statements of operations, stockholders’
equity (deficit) and other comprehensive income (loss), and cash flows for each
of the years in the three-year period ended March 31, 2009.
Our
report dated May 26, 2009 includes an explanatory paragraph that states that the
consolidated financial statements have been prepared assuming that the Company
will continue as a going concern. As discussed in note 1 to the consolidated
financial statements, the Company filed petitions for reorganization under
Chapter 11 of Title 11 of the United States Code (the Bankruptcy Code), and this
raises substantial doubt about the Company’s ability to continue as a going
concern. Management’s plan concerning this matter is also discussed in note 1 to
the consolidated financial statements. The consolidated financial statements do
not include adjustments that might result from the outcome of this
uncertainty.
As
discussed in note 2 to the consolidated financial statements, the Company
adopted the provisions of Financial Accounting Standards Board (FASB)
Interpretation No. 48, Accounting for Uncertainty in Income
Taxes – an interpretation of FASB Statement No. 109, effective April 1,
2007.
As
discussed in note 21 to the consolidated financial statements, the Company has
retrospectively changed its method of accounting for the conversion options in
its debt that may be settled in cash upon conversion for all periods presented
in its consolidated financial statements due to the adoption of FASB Staff
Position No. APB 14‑1, Accounting for Convertible Debt
Instruments That May Be Settled in Cash Upon Conversion (Including Partial Cash
Settlement) (FSP APB 14‑1).
|
/s/
KPMG LLP
|
Denver,
Colorado
December 8,
2009