NEW YORK (Reuters) - ExpressJet Holdings Inc (XJT.N: Quote, Profile, Research) posted a wider-than-expected quarterly loss on Monday, burdened by expenses from its new scheduled service.

ExpressJet began flying under its own brand last year to put a quarter of its fleet to use after former parent Continental Airlines (CAL.N: Quote, Profile, Research) canceled a capacity purchase agreement. ExpressJet also started a charter service.

The company, which flies regional service for Continental and Delta Air Lines (DAL.N: Quote, Profile, Research), reported a fourth-quarter net loss of $31.7 million, or 60 cents per share, compared with a year-earlier profit of $22.8 million, or 39 cents per share.

Excluding one-time items, the loss was 52 cents per share, below the analysts' average forecast of a loss of 32 cents per share, according to Reuters Estimates.

ExpressJet said it would reduce average daily departures of its branded flying service to 172 from 200 starting April 1 because of increased fuel prices.

Operating revenue rose 2.3 percent to $436 million, boosted by higher ground handling and other revenue.

ExpressJet ended the fourth quarter with $214 million in cash and cash equivalents, down from $254 million at the end of the third quarter.

(Reporting by Chris Reiter; Editing by Derek Caney and Lisa Von Ahn)