TalkTurkey

Yea, and I bet you'll start a thread convincing yourself that the moon, in fact and historically proven, was made out of cheese.

Dukeuno

No it was just a Pref Interview with Trans State, but now I will actually be a true flow!

Nevets

Here is the proof:

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

Exhibit 99.3

[Continental Airlines Logo]

CONFIDENTIAL

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.


Obviously, Skywest didn't buy XJT until two years later. XJT pretty much singed Skywest's low ball cpa and started losing money from the previous money making cpa even though branded was completely shut down AND after every single employee took concessions. That's how low ball of a cpa it was.

Actually, XJT started decreasing its quarterly loses from the $30M plus it was hemorrhaging since April 2007 when branded & charter began. It terminated on September 2008 and the losses started decreasing.

This is the CPA that inc negotiated! It was their brilliance they were trying to fix. And in the process, handed over 36 of the XRs over to the competition.

The fact of the matter is that Inc negotiated a low ball CPA in 2008 that XJT got stuck with.

freezingflyboy

I was there in 2008 as well, and Nevets is pretty much spot on about how it went down.

I may be hazy on the details but as I recall, Continental basically said be acquired and/or match the offer we got from Skywest or we will start drawing you down even further (from the 69 they had already suspended contracts on) piece by piece until you are nothing. So what choice did XJT have? And in the end, Skywest got the crummy deal they negotiated anyway and forced it on XJT after we were acquired. They made the bed, now they have to lie in it. And lie by omission about it apparently.

TalkTurkey

So how are we tying this into what's currently going down? Is this a thread that suggests that business is happening as always and as planned?

Nevets

No one was trying to tie these things together. It was just a Skywest kool aid drinkers who had to chime in and say this was not Inc's own doing to begin with.

Nevets

Haha I knew that would get to you. It was just flame bait.

404yxl

Denial is a tough habit to break. Fact is Skywest is a main cause to this situation we are in with a lot of the regionals flying at rock bottom rates.

gojo

Yes they are. Would be interesting to see what the regional landscape looked like without that rate reset agreement with Delta

NormalAbnormal

But, what if it were made of BBQ spare ribs. Would you eat it then?