Air Transport World

ExpressJet.(US Majors)(Brief Article)

The industry's largest Regional by RPMs continues to enjoy strong revenue and traffic growth operating exclusively as a partner of Continental Airlines. Last year it added 26 new cities while earning $108.2 million, up 28.4% over 2002, on revenues of $1.31 billion, up 20.4%. Operating income jumped 23.1% to $181.2 million, representing a 13.9% operating margin. Earnings growth continued in the first quarter of 2004 as net income rose 12.3% to $28.7 million on an 18.7% increase in sales to $364 million.

Since taking the unit public in 2002, Continental has reduced its stake steadily in ExpressJet and now holds around 31%.

On top of a 35. …

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