HOUSTON, Nov. 10, 2010 /PRNewswire-FirstCall/ --
ExpressJet Holdings, Inc. (NYSE: XJT) announced that its
stockholders voted to adopt and approve the merger agreement
between SkyWest, Inc. and ExpressJet Holdings, Inc. at a special
meeting held today in Houston,
Texas.
On August 4, 2010, ExpressJet and
SkyWest announced that they entered into a definitive merger
agreement whereby SkyWest, Inc. will acquire all of the outstanding
common stock of ExpressJet for $6.75
per share in cash subject to the conditions of the definitive
merger agreement. SkyWest, Inc. advised that its intention is
that ExpressJet Airlines will be merged with its wholly-owned
subsidiary, Atlantic Southeast Airlines, following the closing of
the transaction and receipt of all required regulatory approvals.
The merger is currently expected to close on November 12, 2010.
About ExpressJet
ExpressJet Holdings operates several divisions designed to
leverage the management experience, efficiencies and economies of
scale present in its subsidiaries, including ExpressJet Airlines,
Inc. and ExpressJet Services, LLC. ExpressJet Airlines serves
135 scheduled destinations in North
America and the Caribbean
with approximately 1,400 departures per day. Operations
include capacity purchase agreements for United and Continental as
well as providing clients customized 50-seat charter options; and
supplying third-party aviation and ground handling services.
For more information, visit www.expressjet.com.
About SkyWest
Atlantic Southeast, based in Atlanta,
Georgia, and SkyWest Airlines, Inc., ("SkyWest Airlines")
based in St. George, Utah, are
wholly-owned subsidiaries of SkyWest. Atlantic Southeast operates
as a Delta Connection carrier under a contractual agreement with
Delta Air Lines ("Delta") and as a United Express carrier under a
contractual agreement with United Air Lines ("United"). SkyWest
Airlines operates as United Express and Delta Connection carriers
under contractual agreements with United and Delta,
respectively.
SkyWest Airlines also has a marketing agreement with AirTran
Airways, Inc. System-wide, SkyWest currently serves a total of
approximately 225 cities in the United
States, Canada,
Mexico and the Caribbean, with approximately 2,800 daily
departures. This press release and additional information regarding
SkyWest can be accessed at www.skywest.com.
Forward Looking Statements
This communication contains "forward-looking statements" within
the meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 that are not limited to historical
facts, but reflect XJT's and SKYW's current beliefs, expectations
or intentions regarding future events. Words such as "may,"
"will," "could," "should," "expect," "plan," "project," "intend,"
"anticipate," "believe," "estimate," "predict," "potential,"
"pursue," "target," "continue," and similar expressions are
intended to identify such forward-looking statements. These
forward-looking statements include, without limitation, XJT's and
SKYW's expectations with respect to the synergies, costs and other
anticipated financial impacts of the transaction; future financial
and operating results of the combined company; the combined
company's plans, objectives, expectations and intentions with
respect to future operations and services; approval of the
transaction by stockholders and by governmental regulatory
authorities; the satisfaction of the closing conditions to the
transaction; and the timing of the completion of the transaction.
No assurance can be given that the transaction will be
completed or that completion will not be delayed.
All forward-looking statements involve significant risks and
uncertainties that could cause actual results to differ materially
from those in the forward-looking statements, many of which are
generally outside the control of XJT and SKYW and are difficult to
predict. Examples of such risks and uncertainties include, but are
not limited to, (1) the possibility that the transaction is delayed
or does not close, including due to the failure to receive required
stockholder or regulatory approvals, the taking of governmental
action (including the passage of legislation) to block the
transaction, or the failure of other closing conditions, and (2)
the possibility that the expected synergies will not be realized,
or will not be realized within the expected time period, because
of, among other things, the progress of the merger between
Continental Airlines, Inc. and United Air Lines, Inc., global
economic conditions, competitive actions taken by other airlines,
terrorist attacks, natural disasters, difficulties in integrating
the two airlines, the willingness of customers to travel by air,
actions taken or conditions imposed by the U.S. and foreign
governments or other regulatory matters, excessive taxation,
further industry consolidation and changes in airlines alliances,
the availability and cost of insurance and public health
threats.
XJT and SKYW caution that the foregoing list of factors is not
exclusive. Additional information concerning these and other
risk factors is contained in XJT's and SKYW's most recently filed
Annual Reports on Form 10-K, subsequent Quarterly Reports on Form
10-Q, recent Current Reports on Form 8-K, and other SEC filings.
All subsequent written and oral forward-looking statements
concerning XJT, SKYW, the transaction or other matters and
attributable to XJT, SKYW or any person acting on their behalf are
expressly qualified in their entirety by the cautionary statements
above. Neither XJT nor SKYW undertakes any obligation to
publicly update any of these forward-looking statements to reflect
events or circumstances that may arise after the date hereof.
SOURCE ExpressJet Holdings, Inc.
