Skywest airlines operating as inoted update#

Words such as “forecasts,” 'expects,' 'intends,' 'believes,' 'anticipates,' “estimates,” 'should,' 'likely' and similar expressions identify 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. The conference call will also be available live on the Internet at press release and additional information regarding SkyWest, including access information for the digital rebroadcast of the second quarter 2022 results call, participation at investor conferences and investor presentations can be accessed at. Please call up to ten minutes in advance to ensure you are connected prior to the start of the call. The conference call number is 1-88 for domestic callers, and 1-64 for international callers. SkyWest will host its conference call to discuss its second quarter 2022 results today, July 28, 2022, at 2:30 p.m. SkyWest Airlines operates through partnerships with United Airlines, Delta Air Lines, American Airlines and Alaska Airlines carrying more than 36 million passengers in 2021. SkyWest Airlines has a fleet of over 500 aircraft connecting passengers to over 230 destinations throughout North America. is the holding company for SkyWest Airlines and SkyWest Leasing, an aircraft leasing company. By mid-2023, SkyWest is scheduled to operate a total of 240 E175 aircraft. As of June 30, 2022, 30 aircraft were delivered and 17 aircraft have deliveries scheduled through early 2023. Four aircraft were delivered in Q1 2022 and the remaining one aircraft delivery is expected in the first half of 2023.Ĭombined, SkyWest anticipates placing 47 E175 aircraft into service under these three previously announced agreements by early 2023. The anticipated future delivery dates summarized below are based on currently available information and are subject to change.įlying contract with American for 20 E175 aircraftġ8 aircraft were delivered in 2021 and two deliveries are expected in Q3 2022.ġ5 aircraft were placed into service during Q1 and Q2 2022 and five aircraft are expected to be placed into service by the end of 2022.įlying contract with Delta for 16 E175 aircraftġ4 aircraft deliveries are anticipated in the second half of 2022.įlying contract with Alaska for 11 E175 aircraft SkyWest expects to finance the future E175 deliveries discussed below through debt. SkyWest is coordinating with its major airline partners to optimize the timing of upcoming fleet deliveries under previously announced agreements.

Skywest airlines operating as inoted update#

Status Update on Previously Announced Agreements Capital expenditures during Q2 2022 were $197 million for the purchase of eight E175s and other fixed assets. Total debt at Jwas $3.3 billion, up from $3.2 billion at March 31, 2022, reflecting the financing of eight new E175 aircraft delivered in Q2 2022. SkyWest had $975 million in cash and marketable securities at June 30, 2022, up from $856 million at Maand $860 million at December 31, 2021.

Treasury reflected as an offset to Q2 2021 operating expenses and operating costs from aircraft added to SkyWest’s fleet since Q2 2021. The increase in operating expenses was primarily due to $114 million in payroll support program grants received from U.S.

Operating expenses were $710 million in Q2 2022, up 31% from $542 million in Q2 2021. This quarter’s increase in revenue under SkyWest’s flying contracts came from adding 43 aircraft to its operations since Q2 2021, with the remaining revenue increase largely due to COVID-19 revenue concessions given to our major airline partners in Q2 2021. Revenue was $799 million in Q2 2022, up $142 million or 22%, from $657 million in Q2 2021. I want to thank our people for their dedicated, world-class efforts.” As we work through the constraints of an ongoing pilot imbalance and industry-wide staffing challenges, demand for our product remains exceptionally strong.

(NASDAQ: SKYW) (“SkyWest”) today reported financial and operating results for Q2 2022, including net income of $54 million, or $1.07 per diluted share, compared to a net income of $62 million, or $1.22 per diluted share, for Q2 2021.Ĭommenting on the results, Chip Childs, Chief Executive Officer of SkyWest, said, “The quarter results reflect the continued strong demand for our product and the impact of our improved fleet mix as we continue investing in our E175 fleet. GEORGE, Utah-( BUSINESS WIRE)-SkyWest, Inc.