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Old 04-25-2008, 11:52 AM   #1  
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Thumbs down Heres the Letter from Misner to XJT Regarding SKW

April 7, 2008

Mr. James B. Ream
Chief Executive Officer and President
ExpressJet Holdings, Inc.
700 North Sam Houston Parkway, Suite 200
Houston, TX 77067


Mr. George R. Bravante, Jr.
Chairman
ExpressJet Holdings, Inc.
700 North Sam Houston Parkway, Suite 200
Houston, TX 77067




Dear Jim and George:

We understand that SkyWest, Inc. (“SkyWest”) has delivered to you an offer to acquire ExpressJet Holdings, Inc. (“ExpressJet”). In connection with your consideration of such offer, we wanted to inform you of our understanding with SkyWest regarding a new capacity purchase agreement (“CPA”) and our intentions regarding our existing contractual relationship.

First, we confirm that we have negotiated a new CPA with SkyWest, which would become effective if SkyWest is successful in acquiring ExpressJet (which, in turn, is subject to due diligence, among other things), and that we would consent to the change of control that would occur upon such an acquisition.

Second, absent our entering into a new CPA with savings of the magnitude we have negotiated with SkyWest, we currently expect to deliver to ExpressJet on June 28, 2008, a notice to withdraw 51 of the existing 205 Covered Aircraft from the current CPA, beginning in December 2009. Further, although we have the right to terminate the existing CPA at any time, we currently anticipate we will not extend the term of the current CPA (which we must do, if at all, by December 31, 2008), and thus the current CPA would simply expire in accordance with its terms beginning on December 31, 2010, with the expectation that all aircraft would be removed from the current CPA by the end of 2012.

We hope this information is helpful to you.

Sincerely,

Jeffrey J. Misner
Executive Vice-President and Chief Financial Officer
Continental Airlines, Inc.


I love the part in bold, a real class-act over there at CAL. What I want to know is how do they think they will save money, if they think the Express pilot group is going to bend over and take concessions, they are out of their mind.............

Link

whoops I meant his to be in the regional section

http://www.sec.gov/Archives/edgar/da...042408e993.htm

Last edited by JoeyMeatballs; 04-25-2008 at 02:24 PM.
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Old 04-25-2008, 12:01 PM   #2  
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Interesting. Where did this come from?
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Old 04-25-2008, 12:03 PM   #3  
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I hate to see this type of strong arming. Not only that but skywest appears to be working very hard to take Mesas position (as mesa is about gone) to be the slimiest of them all. Make no mistake those of you at skywest, if this purchase goes forth it will not benefit your pay or schedule (two of the biggest factors in a pilots life) at all. In fact it may make them worse.
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Old 04-25-2008, 12:06 PM   #4  
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I think its either "concessions or else" type of deal.
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Old 04-25-2008, 12:06 PM   #5  
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Quote:
Originally Posted by Slaphappy View Post
I think its either "concessions or else" type of deal.
or else it is...............................
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Old 04-25-2008, 12:07 PM   #6  
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If we got Skywests pay, I'd get a raise..
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Old 04-25-2008, 12:08 PM   #7  
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I think XJT doesnt have any room for concessions...Its allow skywest to buy you or else. Wasnt this the rumor a few months ago...SKYW would buy XJT and get a new CPA with CAL? Here we go boys!
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Old 04-25-2008, 12:09 PM   #8  
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Whats the date?


edit"
nm

April 7th.

Looks like this has been going on for a while.
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Old 04-25-2008, 12:12 PM   #9  
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Our pay and non-flying benefits will stay the same as per the contract. Good thing we have a union!!!!!
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Old 04-25-2008, 12:15 PM   #10  
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How's that scope section look, XJTers?
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