SkyWest, Inc. today announced that it is has entered into definitive agreements to sell ExpressJet Airlines, Inc. to ManaAir, LLC, a company in which United Airlines owns a minority interest.
The transaction is expected to close in early 2019, subject to customary closing conditions.
Consideration for the transaction includes approximately $70 million in cash for the majority of the assets and the assumption of liabilities of ExpressJet, subject to a working capital adjustment. The ExpressJet assets excluded from the transaction will be utilized or liquidated by SkyWest. The expected realizable value to SkyWest of the remaining inventory is estimated to approximate the value of the working capital adjustment. SkyWest will retain ownership of the CRJ aircraft currently in service at ExpressJet.
The transaction also includes certain protections around existing SkyWest Airlines flying, as well as priority position to add 25 new dual-cabin aircraft with United should those opportunities arise.
As part of the transaction, SkyWest has also agreed to lease 20 CRJ200s to ExpressJet for up to five years.
ExpressJet Airlines, Inc. operates a fleet of Bombardier and Embraer regional jet aircraft to more than 110 destinations in the U.S., Canada and Mexico.
ExpressJet has nearly 70 years of flying history and was formed through multiple airline mergers and transformations that occurred during that time. Today, ExpressJet is headquartered in Atlanta and operates as American Eagle and United Express.
Starting in early 2019, ExpressJet will begin flying exclusively as United Express, with flight operations centered out of Houston, Chicago, Cleveland and Newark. ExpressJet currently flies the Bombardier CRJ200, CRJ700 and Embraer ERJ145 for United Express.
ExpressJet Fact Sheet
Chicago (ORD); Cleveland (CLE); Dallas (DFW); Houston (IAH); Knoxville (TYS); Newark (EWR)
Maintenance bases (including line stations)
Baton Rouge, La. (BTR); Chicago (ORD); Cleveland (CLE); Houston (IAH); Knoxville, Tenn. (TYS); Newark, N.J. (EWR); Richmond, Va. (RIC)
Airports currently served
111 airports in 36 U.S. states, District of Columbia, Canada and Mexico
Average number of daily scheduled departures
American Airlines (ExpressJet operating as American Eagle)
United Airlines (ExpressJet operating as United Express)
Passengers carried in 2017
Total revenue passenger miles flown in 2017
Total aircraft in operating fleet
126 Bombardier and Embraer Jet Aircraft
(11) 65-passenger Bombardier CRJ700 regional jets
(10) 50-passenger Bombardier CRJ200 regional jets
(105) 50-passenger Embraer ERJ145 regional jets
Our core values guide us as we work to achieve our vision:
- Putting safety first in everything we do.
- Treating people with dignity and respect.
- Operating with honesty, integrity and transparency in everything we do.
- Working smart with commitment to continuous self improvement.
- Taking pride in making sure the job is done right.
Top Copyright Photo: United Express-ExpressJet Airlines Embraer ERJ 145LR (EMB-145LR) N13949 (msn 145057) DCA (Brian McDonough). Image: 906356.
United Express-ExpressJet aircraft slide show:
Route Map: Routes flown for United Airlines: