Delta Air Lines and United Airlines have recently acquired minority stakes in Republic Airways Holdings, a newly-formed regional airline company resulting from the merger of Mesa Air Group and Republic Airways.

The news of Delta’s and United’s partial ownership of Republic Airways Holdings was originally reported by the Engine Cowl. The combination of Mesa and Republic was finalized last month, creating the second-largest feeder airline in the United States, second only to SkyWest Airlines. The newly-formed company boasts a fleet of 310 Embraer regional jets.

In late November, Republic Airways issued 46. 9 million shares of common stock. According to a recent filing with the US Securities and Exchange Commission (SEC), United has acquired 7. 7 million shares, representing 18. 2% of the total shares issued by Republic Airways. Delta, on the other hand, holds a 14. 4% stake in Republic Airways Holdings, equivalent to 6. 8 million shares. These shares were previously owned by Delta as a shareholder of the pre-merger Republic Airways and have now been converted into holdings in the publicly traded company.

Currently, Republic Airways Holdings is trading on the New York Stock Exchange under the ticker “RJET” at a price of approximately $18. 50 as of December 5th.

Mesa has also announced that it will continue its operations solely for United under a new 10-year capacity purchase agreement. Meanwhile, Republic Airways will maintain its partnerships with American Airlines, Delta, and United.