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United Air Exits Stake in Parent of Former ExpressJet Airlines

Passengers board a United Express passenger aircraft at Santa Fe Municipal Airport in New Mexico in 2015.

Passengers board a United Express passenger aircraft at Santa Fe Municipal Airport in New Mexico in 2015.

Photographer: Robert Alexander/Getty Images

United Airlines Holdings Inc. has quietly divested its stake in the parent company of former regional carrier ExpressJet Airlines Inc., according to people familiar with the matter.

United had maintained a 49.9% position in ManaAir LLC after shuttering ExpressJet’s regional feed operations almost two years ago after the onset of the Covid-19 pandemic. ExpressJet, which still has an operating certificate and is led by Chief Executive Officer Subodh Karnik, last year started Aha! Airlines, a low-cost carrier that flies from Reno, Nevada.