ExpressJet to retain 69 aircraft from Continental deal

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ExpressJet to retain 69 aircraft from Continental deal 

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SAN FRANCISCO (AFX) -- ExpressJet Holdings Inc. said after Friday's closing bell it has notified Continental Airlines Inc. that ExpressJet will retain all 69 aircraft being released from the company's capacity purchase agreement with Continental. The transition of the aircraft from the agreement is scheduled to begin in December and to be complete by June 2007, and ExpressJet plans to use some of the aircraft to pursue outside strategic options. ExpressJet also said it has concluded negotiations with Continental to revise the scheduled rates for 2006 under the capacity purchase agreement. ExpressJet said it will continue to receive payment in accordance with a formula designed to provide it with an operating margin of 10% for its Continental Express operations. 
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Roger & Amanda La France 

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