IAM&AW LL2339N
IAM&AW LL2339N News
August 4, 2010 XJT Update
Greetings!

 As you are probably all aware, it was announced today that Skywest Airlines is to buy ExpressJet Airlines and has plans to merge us with their other regional carrier, Atlantic Southeast Airlines (ASA).  Many complicated processes are involved before a merger is complete and rest assured your union will be there representing you and your best interests every step of the way.  There are many uncertainties going into any merger and here at your Newark Local Lodge we are going to be working diligently to get the answers you are seeking.  We are all going to have to work together like never before in order to secure the future for our flight attendants.  There will be more updates and information coming soon.  Also, more information will be available at our upcoming monthly business meeting where you will have access to speak with our Grand Lodge Representative and many others.  Our meeting will be held Tuesday, August 10th at 3pm at the Renaissance Hotel.

 Roach"I will make arrangements to meet with the team as well. Peter Greenberg has been advised to get all financial data on the both carriers so that we can began the process of protecting our membership. Our legal department will review all documents that should be filed with Securities and Exchange as they are filed. While we did not have fore-knowledge of this potential merger let me assure everyone that WE ARE ON IT."

Brother Roach
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ExpressJet Accepts SkyWest, Inc. Acquisition Proposal XJT

HOUSTON, Aug. 4 /PRNewswire-FirstCall/ -- ExpressJet Holdings, Inc. (NYSE: XJT), parent company of regional and charter airline operator, ExpressJet Airlines, Inc., today announced that it signed a definitive merger agreement with SkyWest, Inc. (Nasdaq: SKYW) whereby SkyWest, Inc. will acquire all of the outstanding common shares 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.

Regarding the acquisition, George Bravante, Chairman of the ExpressJet Board, stated, "We believe this transaction provides a significant premium over ExpressJet's current market price for its stockholders and that the combined airline will be able to provide a stable, platform for growth for ExpressJet employees after this transaction closes."

It is anticipated that the combined airline will maintain significant operational presence in each of the hubs ExpressJet currently serves, including Continental's current hubs in Houston, Newark/New York and Cleveland, as well as hubs in Chicago O'Hare and Washington Dulles for United Airlines.  In addition, it is expected that the vast majority of front-line employee positions will not be impacted by the acquisition.

The Boards of Directors of both companies unanimously approved the definitive merger agreement.  The transaction is not subject to a financing condition, but is subject to approval by ExpressJet stockholders and to receipt of certain regulatory approvals and customary conditions.  The transaction is currently expected to close during fourth quarter 2010.

Corporate Headquarters

It is anticipated that the combined airline will maintain an operational support structure in Houston, Texas, while corporate headquarters will be located in Atlanta, Georgia.

Customers

This transaction is not expected to result in material changes to operating schedules, destinations served or aircraft deployment of either airline.  Customers of both carriers can continue to expect to receive the superior high-quality service to which they have become accustomed.  It is anticipated that combined airline will continue to serve Continental's current hubs in Houston, Newark/New York and Cleveland as well as hubs in Chicago O'Hare and Washington Dulles for United Airlines.

Investor and Media Call Information

ExpressJet will discuss the transaction as well as its second quarter 2010 results on Wednesday, August 11, 2010 at 10:00 a.m. EDT (9:00 a.m. CDT).  A live webcast of the call will be available at www.expressjet.com.  To access the conference call by phone, dial (866) 638-3022 approximately 10 minutes prior to the scheduled start time and ask to join the ExpressJet call.  International callers should dial (630) 691-2765.

Advisors

Upon receipt of the offer, ExpressJet engaged Goldman Sachs & Co., as its primary financial advisor, and Seabury Securities LLC, an investment banking and consulting firm, as well as Abrams & Bayliss LLP and Andrews Kurth LLP, as its legal advisors.

 

 
Sincerely,
 
E-Board
IAM&AW LL2339N