#Skywest airlines operating as inoted full#

Passengers Carried refers to Regular Passenger Transport (RPT) passengers and therefore excludes charter passengers.ģ. These statistics contain a reclassification of a route from charter to RPT (Bali) which results in changes in the comparatives.Ģ. Any adjustments made will flow through to the year to date results. Monthly operating statistics are issued on a preliminary basis and are subject to change. Revenue Passenger Kilometres (∐00s) (RPT)Īvailable Seat Kilometres (∐00s) (Charter)ġ. Skywest RPT traffic, measured by Revenue Passenger Kilometres (RPKs) decreased by 4.40% and Skywest Charter traffic which is measured by Charter ASKs increased by 18.96%. RPT Passenger numbers for the month increased by 0.61% over the previous year and the Number of Charter Services increased by 13.39% to 271 compared with the previous year. Skywest, the Australian and South East Asia regional airlines, is pleased to announce its network operating statistics for the month of June 2011. Of course this business model has a downside as well - they could be left with long-term contract cuts eventually, and with a large fleet that has no flying to do.SKYWEST AIRLINES LTD (Skywest or the Company) JUNE 2011 AIRLINE PASSENGER OPERATING STATISTICS SkyWest was making money even while operating nearly empty flights on behalf of other airlines. At this very moment that has proved to be positive for SkyWest, as the airline turned a profit while all the major carriers they work with are losing money. Regional airlines often have very different business models than the major carriers.

SkyWest operates on behalf of Delta Connection Bottom line At that point SkyWest will be in a tough spot, left with quite a few planes that will probably have to be parked. With major airlines shrinking, you can also expect that many contracts won’t be renewed, as we’ll likely see airlines starting to utilize regional airlines less. However, don’t expect things to continue to be this good for SkyWest. In an an environment like this, SkyWest’s business model is obviously ideal, because the airline is being paid per contracts. In other words, major airlines are marketing these flights, and those airlines the risk - they suffer during bad times and benefit during good times.

#Skywest airlines operating as inoted full#

With other US airlines having lost anywhere from tens of millions to a couple of billion dollars in the first quarter, how is it that SkyWest actually turned a profit? It’s because of the nature of the regional airline business.įor the most part SkyWest is operating on a contractual basis with the major airlines, and they’re paid for operating flights regardless of how full they are. SkyWest operates on behalf of United Express How did SkyWest still make money? You can’t blame SkyWest for taking aid since there was nothing in the regulations saying that you had to lose money in order to receive aid.

SkyWest will receive the funds in four monthly disbursements from April to July 2020.

$337 million of that will be a direct grant and approximately $101 million will be a 10 year low interest unsecured loan.

SkyWest will receive approximately $438 million of payroll support under the CARES Act.

SkyWest operates on behalf of American Eagle SkyWest still receives CARES act fundingĮven though SkyWest turned a profit in the first quarter of 2020, the airline is still receiving government aid through the CARES Act:

During the first quarter the airline used $55 million to purchase spare engines and $22 million for other capital investments, and used $20 million to repurchase stocks.

SkyWest had $578 million in cash and marketable securities as of March 31, 2020, up from $520 million as of December 31, 2019.

Expenses in Q1 2020 were $664 million, compared to expenses of $627 million in Q1 2019.

Revenue in Q1 2020 was $730 million, compared to revenue of $724 million in Q1 2019.

Here are a few other interesting facts about their quarter: The adjusted net income was $69 million, excluding the gain on the sale of ExpressJet and other special items.Īs you’d expect, a primary factor in SkyWest’s lower earnings compared to the previous year is the drop in demand in March due to the COVID-19 pandemic. SkyWest reported a first quarter net income of $30 million compared to a net income of $88 million over the same period last year. They’re arguably the best run major US regional airline. They’re a major US regional airline with a fleet of over 500 planes and 14,000 employees, and they operate regional flights on behalf of Alaska, American, Delta, and United.

SkyWest still receives CARES act fundingįor those of you not familiar with SkyWest, you may have flown them before without even realizing it.