ExpressJet Holdings (NYSE: XJT)
today announced the addition of the 150th Embraer regional jet to the
Continental Express operating fleet, marking another milestone in its
aggressive transition to an all-jet fleet by the first quarter of 2003.
With the latest delivery of a 50-seat Embraer ERJ-145, the Continental
Express operating fleet now totals 171, including 21 remaining turboprop
aircraft. The regional carrier to Continental Airlines (NYSE: CAL) has firm
orders for 124 Embraer regional jets and is scheduled to take delivery of
about four aircraft every month for the next three years.
ExpressJet is the worldwide launch customer for Embraer`s extended-range
ERJ-145 XR aircraft. The new model accounts for 104 of the 124 firm orders,
with initial deliveries slated for October 2002.
“The growth of our jet fleet and addition of longer-range aircraft will
allow us to serve new markets and expand service to existing markets while
replacing our turboprops with the faster, quieter jets our customers prefer,”
said ExpressJet President and CEO Jim Ream.
The re-fleeting and upgrade program parallels that of Continental
Airlines, which now operates the youngest jet fleet of any major U.S. carrier.
Continental Express, operated by ExpressJet Airlines, Inc., employs more
than 5,200 people and provides Continental Airlines with all of its regional
airline capacity at its hub airports in Houston, Cleveland and Newark.
Continental Express offers advance seat assignments and OnePass frequent flyer
miles, which can be redeemed anywhere in the world Continental and its
alliance carriers fly. ExpressJet Airlines is wholly owned by ExpressJet
Please note that the foregoing contains forward-looking statements that
are not limited to historical facts, but reflect the company`s current
beliefs, expectations or intentions regarding future events. Actual results
could differ materially from those described in the forward-looking
statements. Additional information concerning factors that could cause our
actual results to differ materially from those in the forward-looking
statements are described the company`s securities filings with the Securities
and Exchange Commission. Such factors include our high leverage, regulatory
developments and costs, labor costs and relations, certain tax matters,
competition and industry conditions, our dependence on the financial and
operational strength of Continental Airlines, and the seasonal nature of the