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HOUSTON - ExpressJet Holdings Inc., which operates regional flights for Continental Airlines Inc., said Tuesday it has received final approval on new labor deals from all four of its unions representing pilots and instructors, mechanics, flight attendants and dispatchers.
Each of the agreements will be retroactive to Nov. 1 and allow ExpressJet to begin realizing $20 million annually in cost savings, the company said.
With the addition of the savings from those agreements, ExpressJet said it expects to meet its goal of achieving $35 million annually in wage, salary and benefit reductions from all employees.
It said the reductions were necessary based on an amended capacity purchase agreement with Houston-based Continental that became effective July 1.
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