SkyWest, Inc. Announces Second Quarter 2017 Profit

SkyWest Airlines, Inc. ("SkyWest Airlines") took delivery of ten E175s during Q2 2017. SkyWest Airlines anticipates adding one additional E175 aircraft in Q4 2017, resulting in a total of 104 E175 aircraft by the end of 2017.

During Q2 2017, SkyWest Airlines and ExpressJet Airlines, Inc. ("ExpressJet") completed the previously announced transition of 49 CRJ700s to American under a multi-year contract. The 49 CRJ700s in service with American were previously operated by SkyWest Airlines or ExpressJet with other major airline partners.

SkyWest Airlines pilots voted in favor of a four-year extension to their current pay agreement, with the new agreement effective July 2017 through mid-2022. The new agreement provides additional compensation for SkyWest Airlines pilots, primarily in profit sharing and 401(k) match.  The financial terms of the agreement were not disclosed.  SkyWest Airlines anticipates the new agreement will allow it to continue to provide outstanding pilot careers, meet its mainline partners' needs and provide better visibility for long-term growth opportunities.

Operating Performance:

Flight completion rates at SkyWest Airlines and ExpressJet for Q2 2017 and Q2 2016 are summarized as follows:

Q2 2017 Capital and Liquidity

SkyWest had $635 million in cash and marketable securities at June 30, 2017, up $70 million from December 31, 2016 and up $48 million from March 31, 2017. During the second quarter of 2017, SkyWest used $15 million in cash and $25 million in previously paid deposits toward the purchase of ten E175 aircraft. SkyWest did not repurchase any stock this quarter under its $100 million share repurchase program of which $90 million remains authorized.

SkyWest issued $227 million in long-term debt during Q2 2017 to finance ten E175s delivered during the quarter. Total debt increased by $145 million during the second quarter of 2017 from the new E175 aircraft acquired, net of scheduled principal payments.

In Q2 2017, excluding aircraft purchased, SkyWest used $21 million for other capital investments, including spare engines and aircraft parts.

About SkyWest

SkyWest, Inc. is the holding company for two scheduled passenger airline operations and an aircraft leasing company. SkyWest's airline companies provide commercial air service in cities throughout North America with more than 3,000 daily flights carrying more than 50 million passengers annually. SkyWest Airlines operates through partnerships with United Airlines ("United"), Delta Air Lines ("Delta"), American and Alaska Airlines ("Alaska"). ExpressJet Airlines operates through partnerships with United, Delta and American. Based in St. George, Utah, SkyWest continues to set the standard for excellence across the regional industry with unmatched value for customers, shareholders and its more than 18,000 employees.

SkyWest will host its conference call to discuss second quarter 2017 results today, July 27, 2017, at 2:30 p.m. Mountain Time. The conference call number is 1-877-418-5293 for domestic callers, 1-866-605-3852 for Canada callers and 1-412-717-9593 for other international callers. Please call up to ten minutes in advance to ensure you are connected prior to the start of the call. The conference call will also be available live on the Internet at https://www.webcaster4.com/Webcast/Page/1088/21885.This press release and additional information regarding SkyWest, including access information for the digital rebroadcast of the second quarter 2017 earnings call, participation at investor conferences, investor presentations and monthly traffic statistic releases, can be accessed at inc.skywest.com.

Forward Looking-Statements

In addition to historical information, this release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "forecasts", "expects," "intends," "believes," "anticipates," "estimates", "should," "likely" and similar expressions identify forward-looking statements. Such statements include, but are not limited to, statements about SkyWest's future financial and operating results, plans, objectives, expectations, estimates, intentions and outlook, and other statements that are not historical facts. All forward-looking statements included in this release are made as of the date hereof and are based on information available to SkyWest as of such date. SkyWest assumes no obligation to update any forward-looking statement. Readers should note that many factors could affect the future operating and financial results of SkyWest, SkyWest Airlines or ExpressJet, and could cause actual results to vary materially from those expressed in forward-looking statements set forth in this release. These factors include, but are not limited to, the prospects of entering into agreements with existing or other carriers to fly new aircraft, ongoing negotiations between SkyWest, SkyWest Airlines and ExpressJet and their major partners regarding their contractual obligations, uncertainties regarding operation of new aircraft, the ability to attract and retain qualified pilots, the impact of regulatory issues such as pilot rest rules and qualification requirements, and the ability to obtain aircraft financing.

Actual operational and financial results of SkyWest, SkyWest Airlines and ExpressJet will likely also vary, and may vary materially, from those anticipated, estimated, projected or expected for a number of other reasons, including, in addition to those identified above: the challenges and costs of integrating operations and realizing anticipated synergies and other benefits from the acquisition of ExpressJet; the challenges of competing successfully in a highly competitive and rapidly changing industry; developments associated with fluctuations in the economy and the demand for air travel; the financial stability of SkyWest's major partners and any potential impact of their financial condition on the operations of SkyWest, SkyWest Airlines, or ExpressJet; fluctuations in flight schedules, which are determined by the major partners for whom SkyWest's operating airlines conduct flight operations; variations in market and economic conditions; significant aircraft lease and debt commitments; realization of manufacturer residual value guarantees on applicable SkyWest aircraft; residual aircraft values and related impairment charges; labor relations and costs; the impact of global instability; rapidly fluctuating fuel costs, and potential fuel shortages; the impact of weather-related or other natural disasters on air travel and airline costs; aircraft deliveries; the ability to attract and retain qualified pilots and other unanticipated factors. Risk factors, cautionary statements and other conditions which could cause SkyWest's actual results to differ materially from management's current expectations are contained in SkyWest's filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

SkyWest, Inc. and Subsidiaries Condensed Consolidated Statements of Income (Dollars and Shares in Thousands, Except per Share Amounts) (Unaudited)
	Three Months Ended June 30				Six Months Ended June 30
	2017		2016		2017		2016
OPERATING REVENUES
Passenger	$   791,341		$   784,813		$   1,536,752		$   1,529,203
Ground handling and other	18,418		16,525		38,422		34,211
Total operating revenues	809,759		801,338		1,575,174		1,563,414
OPERATING EXPENSES
Salaries, wages and benefits	295,929		304,228		595,969		609,785
Aircraft maintenance, materials and repairs	152,356		142,289		284,681		281,149
Depreciation and amortization	71,206		69,887		141,320		137,688
Aircraft rentals	55,413		72,567		113,123		139,691
Aircraft fuel	37,183		32,306		71,493		57,638
Ground handling services	15,902		16,743		35,436		37,727
Other operating expenses	75,174 Werbung Mehr Nachrichten zur Skywest Inc Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 15.04.24 - PR Newswire Finsbury Growth & Income Trust Plc - Transaction in Own Shares 15.04.24 - PR Newswire BlackRock Energy and Resources Income Trust Plc - Transaction in Own Shares 15.04.24 - PR Newswire Fidelity Emerging Markets Ltd - Transaction in Own Shares Große Spekulation:    Wo und warum genau jetzt zu Wochenbeginn positionieren? weiterlesen» Anzeige wo-site-teaser-box-16667_site-teaser-box_2024-04-15_09%253A00%253A00_2024-04-16_09%253A00%253A59