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ExpressJet Announces Execution of All Labour Agreements

12th November 2008 - 05:36 GMT | by The Shephard News Team

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ExpressJet announced today that it received final approval from all of the national offices for its labor unions to execute the new agreements recently ratified by their respective members. Each of these agreements will be retroactive to November 1 and allow ExpressJet to begin realizing $20 million annually in cost savings from its four unions representing the pilots and instructors, mechanics, flight attendants and dispatchers.

With the addition of these savings, ExpressJet expects to meet its stated goal of achieving $35 million annually in wage, salary and benefit reductions from all employees necessitated by the amended capacity purchase agreement with Continental Airlines, Inc. that became effective July 1, 2008.

CORPORATE BACKGROUND

ExpressJet Holdings (NYSE: XJT) operates several divisions designed to leverage the management experience, efficiencies and economies of scale present in its subsidiaries, including ExpressJet Airlines, Inc. and ExpressJet Services, LLC. ExpressJet Airlines serves 125 destinations in North America and the Caribbean with approximately 1,000 departures per day. Operations include a capacity purchase agreement for Continental; providing clients customized 50-seat charter options; and supplying third-party aviation and ground handling services. For more information, visit http://www.expressjet.com.

 

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