ExpressJet announces execution of all labor agreements

ExpressJet received final approval from all of the national offices for its labor unions to execute the new agreements recently ratified by their respective members. Each of these agreements will be retroactive to November 1 and allow ExpressJet to begin realizing $20 million annually in cost savings from its four unions representing the pilots and instructors, mechanics, flight attendants and dispatchers. With the addition of these savings, ExpressJet expects to meet its stated goal of achieving $35 million annually in wage, salary and benefit reductions from all employees necessitated by the amended capacity purchase agreement with Continental Airlines, Inc. that became effective July 1, 2008.