05-17-2023Quote:
ExpressJet urged to consider a merger
Jan. 22, 2008,
ExpressJet Holdings should "immediately abandon" flying routes under its own name, resume making contract flights for larger carriers and consider merging with another airline, its fifth-largest shareholder said.
Hayman Capital Master Fund, which owns 6.3 percent of Houston-based ExpressJet, disclosed the request in a U.S. regulatory filing Tuesday. J. Kyle Bass, managing member of Dallas-based Hayman Capital Partners, said the fund began buying ExpressJet shares in June.
"The branded-flying strategy is, at least, partially responsible for the destruction of roughly $300 million in shareholder value over the past year," Bass said in a letter to ExpressJet Chief Executive Officer James Ream.
"We don't comment on individual dialogues with shareholders," ExpressJet spokeswoman Kristy Nicholas said in an interview. "Everyone is entitled to their opinion. We welcome the feedback from shareholders."
SkyWest may seek merger with rival airline ExpressJet
Thursday, Jan. 24, 2008
SkyWest Inc., cited by an ExpressJet Holdings Inc. investor as a possible merger partner for the rival regional airline, is considering acquisitions as a way to grow, according to SkyWest's chief financial officer Brad Rich.
As SkyWest seeks to expand, new contract opportunities from larger carriers have "kind of slowed down of late," Rich said in an interview Wednesday. "So one alternative is to look for ways to grow through acquisitions." ExpressJet "would be just one opportunity we see," Rich said, declining to name other potential targets for the St. George-based airline.
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