Atlantic Southeast Airlines And ExpressJet Merger Under Investigation

Atlantic Southeast Airlines (parent to SkyWest Airlines) will purchase Houston based ExpressJet Airlines outstanding shares of common stock for $6.75 per share (in cash) representing a net purchase price of approximately $133.

The sale should be completed by the fourth quart of this year, at which time both companies will merge as one. The definitive merger agreement has been unanimously approved by the SkyWest and ExpressJet boards of directors.

The parties anticipate that both airlines will continue to operate under separate airline operating certificates until the regulatory process can be completed for combining the airlines under a single operating certificate, pending receipt of that single operating certificate. Atlantic Southeast and ExpressJet will be located out of Hartsfield-Jackson International Airport.