ExpressJet reports 4Q and 2009 financial results

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ExpressJet Holdings, Inc. (Houston), parent company of ExpressJet Airlines, Inc., reported fourth quarter net income of $30.2 million.  These results reflect a one-time income tax benefit of $47.6 million, including a $17.1 million cash receivable associated with recent tax legislation, and an approximate $30 million non-cash adjustment of deferred tax assets.

For the full-year, ExpressJet reported a net loss of $3.3 million.  Excluding special items, ExpressJet reported a $1.6 million net loss for the full-year 2009.

ExpressJet operated a total of 244 aircraft during 2009.  ExpressJet expects its 2010 fleet to equal 244 fifty-seat aircraft allocated as follows:

  • 206 aircraft flying as Continental Express;
  • 22 aircraft flying as United Express, increasing to as many as 32 aircraft from May to December 2010; and
  • 16 aircraft operating within the Corporate Aviation (charter) division, decreasing to as few as six aircraft from May to December 2010.