Investment firm Hayman Advisors LP on Wednesday reported raising its stake in ExpressJet Holdings Inc. and announced plans to nominate two individuals for election to the regional airline's board.
In a filing with the Securities and Exchange Commission, Hayman reported owning 3.7 million shares, or a 6.8 percent stake in the Houston-based company, which provides contract flying for Continental Airlines and Delta Air Lines, as well as its own branded operation.
Last month, Hayman reported owning 3.5 million shares, or a 6.4 percent ExpressJet stake.
Hayman said it plans to nominate President Andrew N. Jent and William F. Loftus, managing director of consulting firm LoftusGroup LLC, for election to the board at the company's annual meeting in May.
Hayman previously advised the company to abandon its ramp-up of branded-flying operations, sell non-core assets and look for potential merger or acquisition deals with competitors like SkyWest or Republic Airways Holdings Inc.