After bad fourth quarter results, ExpressJet continues to adjust its point-to-point flying, pulling it down to ultimately 30 aircraft as fuel prices force pressure on developing markets, according to CEO Jim Ream, who reported the company’s fourth quarter loss of $31.7 million to investors. For their part, investors closely questioned the wisdom of the point-to-point operation in the current economic and fuel environment with one pointedly asking what will keep the airline from filing Chapter 11. CEO Jim Ream countered that the majority of its fleet was in Continental Express with another three aircraft from the point-to-point operation moved to the Delta pro-rate at Los Angeles. He also said fuel was difficult for all aircraft and the 50-seaters may be a solution for rising costs of mainline narrow bodies. In addition, it was planning to finally move up the number of aircraft for its corporate operation to 15 as demand increases. Finally, he pointed to the company’s cash position at $214 million. For a complete report see the next issue of Regional Aviation News.