United Airlines has reached a deal to acquire ExpressJet
from SkyWest for $70 million. Under terms of the agreement, SkyWest will
maintain ownership of the CRJ aircraft currently in service for ExpressJet and
will lease 20 CRJ200s to ExpressJet for up to five years. United made the
acquisition under its new ManaAir joint venture partnership with KAir
Enterprises, an airline-focused investment company. The transaction is expected
to close in early 2019.
Prior to bringing ExpressJet under its umbrella, United had
been the only major network carrier without an in-house regional partner. In
addition to filling that service void, the ExpressJet acquisition supports United's
growth
plans over the next two years, which are "highly reliant" on
improved connecting traffic in the U.S. domestic market, with a focus on
regional aircraft, noted Cowen and Co.