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ExpressJet (Coex) Question

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Dec 12, 2001
Just curious with the IPO of ExpressJet, what the status of the aircraft are. Are the aircraft owned or are they leased? If the are owned, is it by Continental (and then leasing them to XJT) or XJT. If they are leased, are they leased by CAL (and then sub-leased to XJT) or leased by XJT? Who holds the orders and options for fututre deliveries - CAL or XJT? Thanks.
Found Answer

I found the answer on the calforums right after I posted this. I guess I ought to do some research before I ask.

For anyone interested, here is the answer:

From Mad Dog:
"...CAL owns all the planes and leases them to us."

From RDG:
"CAL leases all the new RJ's via capital leases. Meaning, the aircraft are capitalized as assets on the CAL balance sheet. XJET takes them from CAL via an operating lease, meaning, they don't show up as assets on the XJET side."

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