ExpressJet

ExpressJet reports first quarter net loss of $31.3 million

ExpressJet Holdings reported a first quarter loss of $31.3 million. Excluding an impairment charge relating to investments in auction rate securities held by the company, ExpressJet reported a first quarter loss of $22.6 million. In the first quarter, ExpressJet operated 215 aircraft under capacity purchase agreements with Continental Airlines and Delta Air Lines and generated …

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ExpressJet rejects takeover offer from SkyWest

ExpressJet Holdings reported that a Special Committee composed of independent outside members of its Board of Directors has unanimously rejected a proposal from SkyWest to acquire the Company for $3.50 per share in cash. The Special Committee, which was formed to evaluate the SkyWest proposal, has commenced a full review of strategic and operational alternatives …

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