SKW abandons XJT bid

[I_Love_Lamp]

It's finally dead!

http://www.earthtimes.org/articles/show/skywest-inc-addresses-expressjet-offer,423457.shtml

 

[10nCLR]

Good!!!!!!!!

MORE KOOL-AID for ME!!!!!!!

 

[USCtrojan]

SkyWest, Inc. Addresses ExpressJet Offer

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All PR Newswire news

ST. GEORGE, Utah, June 6 /PRNewswire-FirstCall/ -- SkyWest, Inc. SKYW today announced that the execution of a new capacity purchase agreement between ExpressJet Holdings, Inc. ("ExpressJet") and Continental Airlines, Inc. effectively precludes SkyWest's continued pursuit of its offer to acquire all of the outstanding shares of ExpressJet. Accordingly, SkyWest has determined to not pursue the acquisition of ExpressJet.
"Although we continue to believe our offer represented a favorable opportunity for ExpressJet stakeholders, the execution of a new ExpressJet capacity purchase agreement removes a fundamental component of our offer," said Bradford R. Rich, SkyWest's Executive Vice President and Chief Financial Officer. "Accordingly, we now intend to focus our resources on pursuing other elements of our strategic plan."
SkyWest Airlines, based in St. George, Utah, and Atlantic Southeast Airlines ("ASA"), based in Atlanta, Georgia, are wholly-owned subsidiaries of SkyWest. SkyWest Airlines operates as United Express, Delta Connection and Midwest Connect carriers under contractual agreements with United Airlines, Delta Air Lines and Midwest Airlines. ASA operates as a Delta Connection carrier under a contractual agreement with Delta Air Lines. System-wide, SkyWest serves a total of approximately 228 cities in the United States, Canada, Mexico and the Caribbean, with approximately 2,673 daily departures. This press release and additional information regarding SkyWest can be accessed at http://www.skywest.com.
In addition to historical information, this release contains forward-looking statements. SkyWest may, from time-to-time, make written or oral forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements encompass SkyWest's beliefs, expectations, hopes or intentions regarding future events. Words such as "expects," "intends," "believes," "anticipates," "should," "likely" and similar expressions identify forward-looking statements. All forward-looking statements included in this release are made as of the date hereof and are based on information available to SkyWest as of such date. SkyWest assumes no obligation to update any forward-looking statement. Actual results will vary, and may vary materially, from those anticipated, estimated, projected or expected for a number of reasons, including, among others: the failure to successfully operate as anticipated under the terms of the Delta Connection, United Express and Midwest Connect Agreements; the impact of ASA's organized labor forces and the impact of the costs of such labor forces on SkyWest's operations and financial condition; and the challenges of competing successfully in a highly competitive and rapidly changing industry. Other factors that may cause actual results to vary from SkyWest's expectations include developments associated with fluctuations in the economy and the demand for air travel; ongoing negotiations between SkyWest and its major partners regarding their contractual relationships; variations in market and economic conditions; the impact of global instability; rapidly escalating fuel costs; the degree and nature of competition; potential fuel shortages; the impact of weather-related or other natural disasters on air travel and airline costs; aircraft deliveries; and other unanticipated factors. Risk factors, cautionary statements and other conditions which could cause actual results to differ from management's current expectations are contained in SkyWest's filings with the Securities and Exchange Commission, including the section of SkyWest's Annual Report on form 10-K, entitled "Risk Factors." Copyright 2008 PR Newswire
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[mcleach71]

I love how the "forward looking" disclaimer is longer then the actual information.

Good news for all, a "super" regional would be very bad in so many ways.

 

[Nevets]

SkyWest, Inc. Addresses ExpressJet Offer

ST. GEORGE, Utah, June 6 /PRNewswire-FirstCall/ -- SkyWest, Inc. SKYW today announced that the execution of a new capacity purchase agreement between ExpressJet Holdings, Inc. ("ExpressJet") and Continental Airlines, Inc. effectively precludes SkyWest's continued pursuit of its offer to acquire all of the outstanding shares of ExpressJet. Accordingly, SkyWest has determined to not pursue the acquisition of ExpressJet.
"Although we continue to believe our offer represented a favorable opportunity for ExpressJet stakeholders (except for the pilots), the execution of a new ExpressJet capacity purchase agreement removes a fundamental component of our offer,"(the ability to whipsaw) said Bradford R. Rich, SkyWest's Executive Vice President and Chief Financial Officer. "Accordingly, we now intend to focus our resources on pursuing other elements of our strategic plan."

 

[JumpersAway]

The strategic plan is looking for an alternate place to land 3000 SkyWest pilots that didn't want one list with ASA. If United liquidates (a far reach, but a possibility) where do you think SkyWest will try and put their aircraft- I'm betting an attempted displacement of ASA pilots on the Delta side..........

 

[Bako Cap]

The strategic plan is looking for an alternate place to land 3000 SkyWest pilots that didn't want one list with ASA. If United liquidates (a far reach, but a possibility) where do you think SkyWest will try and put their aircraft- I'm betting an attempted displacement of ASA pilots on the Delta side..........

I have no idea where you came up with this one.
You must not sleep well with all that "Doom and Gloom" on the brain.

 

[JumpersAway]

I have no idea where you came up with this one.
You must not sleep well with all that "Doom and Gloom" on the brain.

Actually, it's not hard to come up with it. How much money has United made since they came out of bankruptcy? Even a lot of the United pilots are saying this. I hope it doesn't happen, especially for the United pilots, but think of the consequences such a liquidation would have on all of us.

I'm hoping that United pilots get some leadership at their company that turns the boat around- they deserve a better. Even with all that's going on, they still have the spine to stand up for what they feel an airline pilot is worth. My hat goes off to them- GOOD LUCK!

 

[shroomwell]

The government would re-regulate before they let United go TU.

 

[SKYWRJGUY]

Actually, I'm more worried about the increasing pile of cash the airline (Inc.) is generating and not really using it...makes us an increasingly favorable takeover target (not by a major, though).

 

[flyboyzz1]

really? How so?

 

[PBRstreetgang]

Actually, I'm more worried about the increasing pile of cash the airline (Inc.) is generating and not really using it...makes us an increasingly favorable takeover target (not by a major, though).

They(inc) can store it at my house, I have a mattress that has lots of empty space for cash. I will stay home all day drinking and guarding it!
PBR

 

[homerjdispatch]

They(inc) can store it at my house, I have a mattress that has lots of empty space for cash. I will stay home all day drinking and guarding it!
PBR

That drink would have to be Kool-aid! Or wait, lets make a new drink... Kool-aid and Vodka. We can call it a SkyWest!

One SkyWest on the rocks please!