Houston-based regional airline ExpressJet said today that a committee composed of independent outside members of its board of directors has unanimously rejected a proposal from St. George, Utah-based SkyWest to acquire the company for $3.50 per share in cash.
ExpressJet became the first airline to join the new Embraer Collective Inventory Planning (ECIP) program, in an effort to better manage its spare parts inventory for its fleet of 240 regional jets.
Supported by its AeroChain Web portal, ECIP monitors parts usage and guarantees automatic stock replenishment. Embraer’s U.S. support subsidiary, EACS, manages the program.
Continental Airlines and Brazil’s Embraer last month agreed to defer deliveries on 60 fifty-seat ERJ-145XRs jets by as much as two years, sending stock prices of both companies sharply downward. According to the new schedule, Embraer will deliver to ExpressJet 36 aircraft instead of 48 in 2003 and 21 aircraft instead of 36 in 2004.
CommutAir’s flight operations department accelerated preparations last month for a major expansion scheduled to start March 16 in Cleveland, where the Plattsburg, N.Y.-based Continental Connection affiliate plans to nearly double its capacity by year-end with 12 new destinations.
The application deadline for $125,000 in scholarship money for Women in Aviation International (WAI) members has been extended to December 10. The scholarships include type ratings from Bombardier Business Aviation Services, ExpressJet and Horizon Air, and a separate scholarship from Bombardier for Learjet maintenance training. ICAO, Garmin and Telex are also offering scholarships.
The sagging market valuations of airlines across the U.S. since September 11 have prompted Continental Airlines to reconsider plans to spin off its wholly owned regional subsidiary into an independent entity. As a result, the airline has postponed its planned initial public stock offering of ExpressJet from parent company Continental Airlines until market conditions warrant renewed consideration of such a move.
In the wake of a first quarter that saw his airline’s operating margins cut by more than half from a year earlier, ExpressJet CEO Jim Ream didn’t see much point last month in revealing traffic figures for the company’s new branded operation. But in case anyone held out hope that things went better than expected, Ream didn’t just let the omission speak for itself. “The markets are thin,” he said.
The winter storm that stranded thousands of travelers throughout the Northeast in the middle of February didn’t put a damper on this year’s annual Women in Aviation International (WAI) conference. In fact, a record 3,200 people attended the event, held February 15 to 17 at the Walt Disney World Coronado Springs Resort in Orlando, Fla. Conference organizers say they received just 127 cancellations.
JetBlue Airways last month recruited Houston-based ExpressJet to fly four 50-seat Embraer ERJ 145s as replacements for each pair of E190s it sends to Embraer’s heavy maintenance center in Nashville to address service bulletins and install avionics
Houston-based ExpressJet joins some pretty rarefied company this month when it begins flying 44 Embraer ERJ 145s under its own colors in a point-to-point “spider web” network of 24 cities ranging from Monterey, Calif., to Raleigh-Durham, N.C. The new operation marks the second attempt in the last few years by a regional airline to set out on its own after failing to reach terms on code-share contract concessions with its mainline parent.