EXHIBIT 99.1

News Release    

          

       

Contact:            Investor Relations

 

Phone:              (713) 324-4755

 

Email:               xjtinvestor@expressjet.com

 

EXPRESSJET REPORTS FOURTH QUARTER AND FULL-YEAR EARNINGS

            HOUSTON, Jan. 24, 2006 - ExpressJet Holdings, Inc. (NYSE:XJT) today reported fourth quarter net income of $24.9 million, or $0.42 diluted earnings per share.  For the full year ended Dec. 31, 2005, net income totaled $98 million, or $1.65 diluted earnings per share.

            During the quarter, the company’s ExpressJet Airlines subsidiary flew 12.5 percent more block hours and 11,304 more departures than the fourth quarter of 2004, operated at record-breaking load factors and maintained a 99.8 percent controllable completion factor, which excludes cancellations due to weather and air traffic control.

            “Our employees turned in another year of industry leading performance by continuing to focus on our core strategies – customer service, cost efficiency and operational integrity,” said ExpressJet President and CEO Jim Ream.

FOURTH QUARTER AND YEAR-END REVIEW AND HIGHLIGHTS

Operational Review

            Fourth quarter operating revenue increased 5 percent to $405 million, versus $387 million in the fourth quarter of 2004.  Compared to the same period last year, the company’s ExpressJet Airlines subsidiary grew its capacity 14 percent to 3.1 billion available seat miles, with block hours increasing 12.5 percent to 213,685.  Revenue passenger miles were up 20 percent, resulting in a 3.5 points year-over-year increase in load factor to 76.1 percent.  The airline operated at a 99.8 percent controllable completion factor during the fourth quarter, which excludes cancellations due to weather and air traffic control, and an overall completion rate of 97.9 percent. 

            For the year ended 2005, ExpressJet Airlines carried over 16 million passengers, 2.3 million more than in 2004 on 44,873 more flights than in 2004 and operated at all-time record monthly load factors for five consecutive months from August to December 2005. 

- more -


The following information was filed by Expressjet Holdings Inc on Tuesday, January 24, 2006 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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