ExpressJet Airways, a regional U.S. airline headquartered in College Park, Georgia, has just filed for Chapter 11 bankruptcy protection and announced that it intends to enter into a court-supervised liquidation in the coming weeks.
listed assets and liabilities of no more than $50 million each in its bankruptcy petition. ExpressJet laid off most of its workforce prior to filing for bankruptcy, according to court papers.
A once large regional carrier listed assets and liabilities of no more than $50 million each in its bankruptcy petition.
The airline fired most of its staff prior to filing for Chapter 11 protection, according to court filing.
Prior to the start of the global COVID-19 pandemic, ExpressJet operated wholly for United Express, which is a regional carrier of United Airlines. At its peak, ExpressJet operated over 450 aircraft and was considered a major regional air service provider.
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After losing its inclusive contract with United Airlines in mid-2020, ExpressJet was forced to shut down for about a year before relaunching.
The carrier grappled with weak travel demand and soaring fuel costs, while attempting to scale its operations, before finally calling it quits.
Reno-based aha! – a standalone airline created by ExpressJet for serving destinations across the west, has also ceased operations.
ExpressJet said that it is planning to sell off its assets, that include aircraft parts and an airline operating certificate, in order to repay creditors.
Tags: COVID-19 pandemic, ExpressJet, United Airlines
