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SkyWest Inc. (NASDAQ: SKYW) is a premier air service provider connecting millions of passengers to over 200 destinations throughout North America each month. Headquartered in St. George, Utah, SkyWest partners with major network carriers like United Airlines, Delta Air Lines, American Airlines, and Alaska Airlines. With a fleet of more than 350 aircraft and a dedicated team of over 11,500 aviation professionals, SkyWest operates nearly 1,800 flights daily, ensuring safe and reliable service.
SkyWest's business model is centered around regional flights, leveraging smaller, cost-efficient aircraft to transport passengers. The company has two main segments: SkyWest Airlines, which handles operations, and SkyWest Leasing, which manages aircraft leasing. This model allows SkyWest to work under the brands of its partner carriers, optimizing marketing and transportation logistics for passengers.
Recent achievements include the acquisition of 19 new E175 jets from Embraer for operation in the United Airlines network. The $1.1 billion contract will see the aircraft delivered in a three-class configuration starting in Q4 2024. This addition will bolster SkyWest's standing as the largest E175 operator globally, enhancing passenger comfort and reliability.
SkyWest has also partnered with Accommodations Plus International (API) for advanced crew management solutions. This collaboration is set to improve the logistical efficiency and overall experience for SkyWest's crew members, aligning with the company's commitment to operational excellence.
Well-regarded for its industry-leading workforce and exceptional leadership team, SkyWest consistently demonstrates solid operational and economic performance. The company's strategic partnerships and continuous efforts to enhance passenger experience underline its significant role in the regional aviation sector.
SkyWest reported Q4 2022 net loss of $47 million, or $0.93 loss per share, a decline from a net income of $4 million in Q4 2021. For the full year 2022, net income was $73 million, or $1.44 per diluted share, down from $112 million in 2021. The revenue for Q4 2022 was $681 million, a 12% decrease from $777 million in Q4 2021, influenced by a $69 million increase in deferred revenue. Operating expenses also decreased by 4% to $716 million. Despite challenges, SkyWest secured amendments to flying contracts to enhance pilot pay and took delivery of four E175 aircraft during the quarter. The company ended the quarter with $1 billion in cash and marketable securities.
SkyWest, Inc. (NASDAQ: SKYW) will hold a live conference call on February 2, 2023, at 2:30 p.m. MT to discuss its fourth quarter and full year 2022 results. The session will cover an overview of the quarterly results and will include a Q&A segment. Interested parties can join the webcast at this link. A digital rebroadcast will be available from 5:30 p.m. MT on February 2 through February 16, 2023. For more information, contact Investor Relations at 435-634-3200.
SkyWest reported strong financial results for Q3 2022, with a net income of $48 million or $0.96 per diluted share, an increase from $10 million or $0.19 per diluted share in Q3 2021. Revenue rose 6% to $789 million, driven by the addition of E175 aircraft. Operating expenses increased 2% to $714 million, mainly due to higher salaries. As of September 30, 2022, the company maintained $1.0 billion in cash, while total debt was $3.4 billion. Fleet expansion is on track with future deliveries planned for E175 aircraft by 2025.
SkyWest, Inc. (NASDAQ: SKYW) will host a live conference call and webcast on October 27, 2022, at 2:30 p.m. Mountain Time to discuss its third quarter 2022 results. The session will feature an overview of the quarterly performance followed by a Q&A segment. Interested participants can join via the provided link or call in using designated US and international numbers. A digital rebroadcast of the call will be available from 5:30 p.m. MT on October 27 to November 10, 2022.
SkyWest reported its Q2 2022 financial results, showing a net income of $54 million or $1.07 per diluted share, compared to $62 million or $1.22 in Q2 2021. Revenue grew 22% to $799 million, driven by the addition of 43 aircraft and higher flying contract revenues. Operating expenses rose 31% to $710 million, partly due to payroll support programs. SkyWest continues to expand its E175 fleet, having delivered six aircraft to Alaska Airlines and two to Delta, with future deliveries planned. As of June 30, 2022, cash and marketable securities reached $975 million.
SkyWest, Inc. (NASDAQ: SKYW) will hold a live conference call and webcast on Thursday, July 28, 2022, at 2:30 p.m. Mountain Time to discuss its second quarter 2022 results. The event will include a presentation followed by a Q&A session. Interested parties can join the webcast at this link. US callers can reach the call at 1-888-440-4038, while international callers can dial 1-646-960-0861. A rebroadcast will be available from July 28, 2022, after 5:30 p.m. MT until August 11, 2022.
SkyWest (NASDAQ: SKYW) reported Q1 2022 financial results with a net income of $18 million, or $0.35 per diluted share, down from $36 million, or $0.71 per share in Q1 2021. Revenue increased by 38% to $735 million, driven by a 13% rise in block hours. Operating expenses rose 51% to $683 million, largely due to payroll support grants in the prior year. The company took delivery of four E175 aircraft for Alaska Airlines and placed seven into service for American Airlines. SkyWest maintains $856 million in cash and anticipates delivering 47 E175 aircraft by early 2023.
SkyWest, Inc. (NASDAQ: SKYW) will host a live conference call and webcast on April 28, 2022, at 2:30 p.m. MT to discuss its first quarter 2022 results. The session will include an overview of the quarterly performance followed by a Q&A. Interested participants can access the webcast via this link. Call-in numbers are 1-888-440-4038 for US callers and 1-646-960-0861 for international callers. A digital rebroadcast will be available from 5:30 p.m. MT on April 28 until May 12, 2022.
Thomas Global has secured SkyWest Airlines as the launch customer to upgrade its CRJ Pro Line 4 flight decks with the TFD-4000 LCD flight displays starting this summer. This retrofit captures significant benefits of AMLCD technology, enhancing reliability and lifecycle costs while restoring supply chain dependability. The TFD-4000, now FAA certified, offers a drop-in solution for legacy CRT displays, significantly improving operational efficiency. Deliveries to SkyWest are expected to commence in mid-2022.
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