ExpressJet, a former unit of Continental Airlines, announced today that it was converting ten of its aircraft into corporate configurations to serve the burgeoning private jet market. ExpressJet Corporate Aviation, the new unit of ExpressJet, is slated to begin operation in December 2006 with Embraer 145XR aircraft. The carrier plans to invest $5 to $6 million into its new corporate division. ExpressJet boasts that the refitted aircraft will come replete with amentities like satellite radio, but without the delays that plague mainstream commercial air travel. Some analysts see this move as a natural decision to diversify the carrier’s interests, particularly since “Continental canceled [their] capacity purchase agreement” with Expressjet. Saddled with sixty-nine aircraft and no future partner, ExpressJet is exploring offers with other legacy carriers. A decision on plans for the remaining aircraft will come at a November 9 shareholder conference.

Source: Reuters