Alright, as a current XJT FO, here's what I see happening. All that is posted is fact, I'll get to the speculation later.
-Dec 28, 2005, Continental Mainline announced, per our capacity purchase agreement (CPA)with them, they were going to be taking back 69 of our a/c and having someone else fly them in CAL colors.
-Under the CPA, ExpressJet had the option to sublease any of the airplanes that CAL was taking away from us.
-CAL awarded the flying of our airplanes to CHQ.
-in April 2006, XJT informed CAL that they would be keeping ALL 69 airplanes in the CPA.

Now, for the speculation... There are so many rumors going around, and I do not know all the details of the CPA and the CHQ contract. I do not know if CAL is putting out a new RFP for the flying AND the airplanes, or what. The rumor that I heard is CAL was going to try to cover some of the lost flying with their 737s. (A carrier taking back flying with bigger planes! what a concept!)

We have heard just about every rumor for what those airplanes are going to be doing, and going along the original timeline, suppossedly we should be finding out where those airplanes will be going in the next 30-60 days. They are good ERJs (LRs and XRs... XRs are the ones with the wingtips and as far as I know, we are the only ones flying them. Embraer finnally got it right on the XR.... It is hardly ever weight restricted.) Until then, everyone here is in limbo. Like I said, the last two paragraphs are SPECULATION! I know NOTHING other than hearsay. But, everyone seems upbeat on what we will be doing