Continental to yank 69 planes from ExpressJet

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XJT is down 12% this morning.
   
  Continental to yank 69 planes from ExpressJet
Wed Dec 28, 2005 11:09 AM ET 

NEW YORK, Dec 28 (Reuters) - Continental Airlines Inc. (CAL.N: Quote, Profile, Research) said on Wednesday that it plans to withdraw 69 regional jets from a capacity purchase agreement with regional feeder carrier ExpressJet Holdings Inc. (XJT.N: Quote, Profile, Research) after failing to agree on a cheaper contract. 
  
Continental said it would now seek bids from other regional jet operators to operate the aircraft at more competitive rates. The jets are part of a 274-plane fleet that ExpressJet operates for Continental under the purchase agreement.
   

		
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