ExpressJet wants to take to the skies. Again. And in a big way. After failing at standalone operations with its Embraer E145 fleet a couple times the company’s new owners are looking to pivot to the Boeing 777 for the next chapter in this saga.
After halting operations as aha! in August 2022 the company filed for Chapter 11 bankruptcy protection. Its assets – most notably its operating certificate – were acquired by Polaris 8 just a couple days before Christmas. Since then the new owners have been working with the FAA to reinstate the operating authority. The company will not, however, meet the one year deadline typically imposed by the FAA for dormancy of the certificate. In its request for a 90-day extension Polaris 8 details its plans for resuming operations with the 777 as the centerpiece of its fleet.
The new owners, brothers Vandi and Sami Cooyar, have experience in the commercial aviation world. The two are also owners of Logistic Air, a company that owns and dry leases aircraft as well as trades in aviation components. They also own Global Supertanker Aviation, an operator of firefighting aircraft, notably a 747-200 specially equipped for this purpose.
Logistic Air owns a 777, currently registered as N771LG. It previously spent 20 years operating for JAL as JA711J. That aircraft will be leased to ExpressJet to resume its operations.
While further details of the plans await future regulatory filings, the company notes that the new owners have sufficient cash on hand to fund the $1.9 million needed for its first 90 days of operations. Given their experience in charter aircraft operations there is a good chance ExpressJet will focus on that or a capacity purchase agreement, rather than scheduled commercial operations. Especially with just one plane to start.
That said, acquiring more used 777s and pressing them into service should not be too difficult nor expensive. Eastern Airlines was planning a similar expansion until it failed its ETOPS certification flights last year.
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