U.S. SkyWest to sell ExpressJet Airlines to ManaAir JV for $70 mln

U.S.-based passenger airline holding company SkyWest Inc. will divest its ExpressJet Airlines to United Airlines joint venture (JV) ManaAir for $70 million in cash.

SkyWest will keep the ownership of ExpressJet's CRJ aircraft, but lease aircraft to ExpressJet for up to five years and ManaAir will take on the majority of the assets and assume the liabilities of ExpressJet as part of the deal.

ExpressJet also won an additional competitive bid under which it will operate 25 United-owned Embraer 175 aircraft.

Subjected to U.S. Department of Transportation and Federal Aviation Administration approvals, SkyWest expects the deal to close in early 2019. United owns a minority stake in ManaAir, with the remaining share held by rival KAir Enterprises.