HOUSTON, Nov. 24 /PRNewswire-FirstCall/ -- ExpressJet Holdings (NYSE: XJT)
today announced that its Board of Directors has authorized an additional
$10 million for the previously announced securities repurchase program. The
company expects any purchases of the notes or the stock to be made from time
to time in the open market or in privately negotiated transactions. The
timing of any repurchases under the program will depend on a variety of
factors, including market conditions, and may be suspended or discontinued at
any time. Common stock acquired through the repurchase program will be
available for general corporate purposes, and convertible notes repurchased
under the program will be cancelled.
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CORPORATE BACKGROUND
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 125 destinations in North America and the
Caribbean with approximately 1,000 departures per day. Operations include a
capacity purchase agreement for Continental; providing clients customized
50-seat charter options; and supplying third-party aviation and ground
handling services. For more information, visit http://www.expressjet.com.
SOURCE ExpressJet Holdings
