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ExpressJet Holdings reports USD16.1m net loss in 1Q2010

29-Apr-2010 12:47 PM
ExpressJet Holdings reports (28-Apr-2010) the following financial/traffic highlights for the three months ended 31-Mar-2010:
  • Revenue: USD189.3 million, +11.5% year-on-year;
  • Operating costs: USD203.8 million, +12.7%;
  • Operating loss: (USD14.5 million), compared with a loss of USD11.0 million in the corresponding period last year;
  • Net loss: (USD16.1 million), compared with a loss of USD11.4 million in the corresponding period last year.
ExpressJet Holdings: "Our employees did a great job of operating the airline in light of the severe weather conditions of the first quarter ... Unfortunately, our financial results were disappointing. It is clear now that to return to sustained profitability, we need to reduce our costs further," Pat Kelly, Interim President and Chief Executive Officer. Source: ExpressJet, 28-Apr-2010.