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Aug 9
ExpressJet Holdings Inc., Posts Loss on New Airline Costs

The start up of their own airline led Houston based ExpressJet Holdings Inc. (XJT) to a $26.4 million quarterly loss.  Despite the loss the CEO of the airline says he is pleased with the progress the company has made.  ExpressJet is looking at shifting some of their 24 cities that they serve around. 

"We knew we probably were going to have to move some things around a little bit," Jim Ream, president and CEO of ExpressJet. 

When Continental pulled nearly 70 jets from ExpressJet, the carrier had to do something.  The cost of starting an airline and picking cities where they could possibly turn a profit with just 50 seat jets has been a tough battle for them.  They have faced competition from legacy carriers such as American that are willing to take a loss in order to protect their turf.  

Houston Chronicle 

 



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