Air Transport World

ExpressJet holdings.(RegionalNews)(Financial report)(Brief article)

ExpressJet Holdings reported a $70.2 million loss in 2007 compared to a profit of $92.6 million in 2006. Revenue rose just 0.2% to $1.69 billion while expenses soared 16.3% to $1.79 billion owing to higher fuel costs and expenses related to the launch of its branded flying operation. It had an operating loss of $106.9 million compared to a profit of $140.1 million a year earlier. In an effort to stem the losses, the company will reduce its number of branded aircraft from 44 to 36 this month. The number of daily departures will be cut from 220 to 172. "The 2007 result reflects the enormous challenge this company was presented in redeploying 25% of its fleet within a six-month period and managing an increasingly challenging airline industry environment," President and CEO Jim Ream said. …

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