I took part in the ExpressJet internship in the spring of 2008 and here is my .02 cents on it. I would highly suggest you take the internship as I would any college student who wants to join the airline industry. I worked in the Cleveland chief pilots office (naturally being that I'm a Kent Stater). The actual work wasn't all that exciting. Jepp revisions, intercepting pilots to go get drug tested, phone calls, setting up charter interviews, cleaned out cle crew room refrigerator, fixing the copier anytime a IAH bid packet came out, sometimes junior manning pilots (sucked) and obcourse going to Banjoe's . They had me go to Newark for a week to help move things from concourse C to A along with other random jobs. The main benefit is you get a full unabridged 2 week systems class on the EMB-145 ( we had two requals in our class so nothing was left out) and we took the systems test and did the first 3 FTD lessons and 2 full motion sim lessons. ( Even if you dont get a job with Express you will probably fly a ERJ or CRJ and if you can learn one jet it would make it easier to learn the other) We also got SA3 standby pass travel. ExpressJet is full of great people who are wonderful to work for and Trust me, there is so much more you can get out of it if your willing to learn. Most important thing is to be a sponge, ask questions and learn about the industry. While I was in Houston I worked with and had dinner with the manager of flight ops (technical) and I learned alot from him about the industry. He gave me the required texts (fate is the hunter, hard landing, flying the line, worst to first..the classics) but most of all from the whole experience I got to learn more about unions, and that it's about more then just strikes and the RLA, but how they help pilots and new hires and the services they provide. How important scope is ( as anyone with express knows how important that is after the spring of 08) and how contracts are more then just pay scales. Not only did I learn about the insides of how an airline works, but I came away with alot more knowledge and understanding of what it is to be an airline pilot ( for better and worst) and the responsibility every pilot has not only to the company but also to there own pilot group. Being a history minor, knowing your past is important when dealing with the future. The airline industry is taken a lot of hits since deregulation and it needs work, but it's still a good job and it's a job worth fighting for and you learning about the industry you want to be apart of is one step foreword in trying to make aviation (especially regionals) a much better place then it currently is.
Sorry for being so long winded. But It is worth your time to take the internship and overall I had a great time with Express and came away with a lot of knowledge. I hope that helps.