ATLANTA, Aug. 9, 2017 /PRNewswire/ -- ExpressJet
Airlines, a wholly-owned subsidiary of SkyWest, Inc. (NASDAQ: SKYW)
today announced the initiation of a clearly defined long-term
strategy.
- Long-term agreement secured with United Airlines. As
part of this plan, ExpressJet has secured a new, five-year
extension of its United Airlines ERJ145 contract, effective
Jan. 1, 2018 through Dec. 31, 2022. The new agreement enhances
ExpressJet's United partnership and provides long-term stability to
its model. It also provides ExpressJet pilots with continued access
to United's Career Pathway Program. Financial terms of the
agreement were not disclosed.
- Early termination of Delta CPA. Additionally, ExpressJet
and Delta Air Lines mutually agreed to initiate the wind-down of
its remaining dual-class flying agreement under the Delta
Connection brand, allowing ExpressJet opportunities to place
aircraft with other partners. The agreement, which includes 28
CRJ900s and 33 CRJ700s, was previously scheduled to expire
beginning in 2019. The aircraft financed by Delta, including all
CRJ900s, will be returned to Delta beginning in fourth quarter
2017; ExpressJet expects to transition other aircraft previously
operated under its Delta agreement to other major partners
throughout 2018.
- Agreement with American for eight additional CRJ700s. As
part of this realignment, ExpressJet has secured an agreement with
American Airlines to transition eight additional CRJ700s to its
American Eagle operation. That transition is expected to take place
during second quarter 2018.
"Today's announcement provides structural strength, visibility
and positive momentum to ExpressJet Airlines," said Chip Childs, Chief Executive Officer of SkyWest,
Inc. "Our objective to provide a strong and successful foundation
for the people of ExpressJet is central to our strategy. The
execution of these new agreements is essential to finally getting
ExpressJet to long-term success and profitability."
About ExpressJet Airlines
Headquartered in
Atlanta, ExpressJet is a leading
regional airline with 6,100 aviation professionals, an average of
1,077 daily flights and an all-jet fleet of 228 aircraft.
ExpressJet operates as American Eagle, Delta Connection and United
Express to serve more than 164 airports in the U.S., Canada, Caribbean and Mexico.
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SOURCE ExpressJet Airlines