ExpressJet widens losses, focused on cost reduction before merger
The very last North American airline to report its second quarter results, ExpressJet said it lost USD18.6 million including special items, a 42% increase from the USD13 million loss posted in the year-ago period. Excluding special items, the loss totaled USD5 million. However, it followed its other regional counterparts in reporting increasing block hours in its Continental and United express agreements. CEO Tom Hanley reported the 18% increase in block hours over the year-ago period, adding that during the quarter it expanded its United Express operation to 32 aircraft. It is now trying to extend 10 short-term aircraft (scheduled to expire at the end of the year) into 2011.