ExpressJet Holdings posted net income of $23.3 million for the first quarter ended March 31, an 18.9% decline from net income of $28.7 million in the year-ago period. The company said the figures represent the first quarterly results of operations under its new 2005 compensation rates, which were established with a 10% target operating margin under its capacity purchase agreement with Continental Airlines. First-quarter operating revenue increased 3% to $375.4 million while operating ...

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