Regional airlines hit by falling travel demand
U.S. regional airlines, ExpressJet Holdings Inc
ExpressJet, which provides regional flights for Continental Airlines
ExpressJet operates more than 87 percent of its fleet through Houston-based Continental.
SkyWest, which flies for Delta Air Lines
The company reported net income of $9.4 million or 16 cents per share, compared with a profit of $29.1 million or 47 cents per share a year ago.
Revenue declined 22 percent to $673 million.
The carrier warned last month that results would trail expectations after its Atlantic Southeast Airlines unit grounded 60 jets for engine inspections.
The unit also experienced significant weather-related cancellations in Atlanta, the company said.
ExpressJet shares were up 12 cents to $1.84 on the New York Stock Exchange, while SkyWest shares were up 43 cents to $13.29.
(Reporting by Kyle Peterson; Editing by Derek Caney)
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