ExpressJet Inc turns down SkyWest's acquisition offer

ExpressJet Airlines, Inc. turned down Friday SkyWest offer to acquire a regional airline for $181.6 million.

ExpressJet reported that it assessed the company’s value much higher than was offered - $3.50 a share.

SkyWest Inc, combined with Atlantic Southeast Airlines, is the sixth-largest airline in terms of number of planes, operating 436 regional aircraft.

The airline employs over 11,100 people and averages 1,794 daily departures across its network. Approximately 65% of flights are operated as United Express, 31% as Delta Connection, and 4% as Midwest Connect.

ExpressJet Airlines, Inc. is an autonomous business entity since its divestiture from Continental Airlines, Inc. It is the 14th-largest airline in terms of fleet size, operating 274 aircraft. Friday ExpressJet entered again into discussions with Continental regarding the contract.

Neither ExpressJet nor SkyWest commented the situation.