Welcome to our dedicated page for Skywest news (Ticker: SKYW), a resource for investors and traders seeking the latest updates and insights on Skywest stock.
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 a positive financial turnaround in Q4 2021, achieving a net income of $4 million, or $0.09 per diluted share, compared to a net loss of $46 million in Q4 2020. For the full year, net income was $112 million, or $2.20 per diluted share. Revenue rose by 32% to $777 million in Q4 2021, driven by a 30% increase in block hours. Despite rising operating expenses of $744 million, SkyWest is optimistic about future fleet expansions in partnership with major airlines and Eve Air Mobility for eVTOL aircraft, emphasizing a commitment to sustainability.
SkyWest, Inc. (NASDAQ: SKYW) will hold a live conference call on February 3, 2022 at 2:30 p.m. MT to discuss its fourth quarter 2021 results. The event will feature a presentation of the quarterly results followed by a Q&A session. Interested parties can join via the provided webcast link. A digital rebroadcast will be available from 5:30 p.m. MT on the same day until February 17, 2022. US and international call-in numbers are also provided for those who wish to participate.
SkyWest (NASDAQ: SKYW) and Eve Air Mobility announced a partnership to purchase 100 electric vertical takeoff and landing (eVTOL) aircraft to develop a deployment network in the U.S. The collaboration aims to enhance Urban Air Mobility operations, focusing on vehicle design and certification. SkyWest views Eve's eVTOL as a sustainable solution, promising zero carbon emissions and improved urban connectivity. This partnership leverages SkyWest's extensive operational experience and Eve's innovative technology, marking a significant step towards sustainable aviation.
SkyWest reported Q3 2021 results showing net income of $10 million, or $0.19 per diluted share, down from $34 million in Q3 2020. Adjusted net income soared to $74 million, reflecting a recovery in flying demand post-COVID-19. Revenue rose 63% to $745 million, boosted by a 67% increase in flight hours. However, operating expenses surged 82% to $698 million, largely due to an $85 million impairment charge for CRJ900 aircraft. The firm anticipates $15-$20 million in Q4 2021 losses due to a recent cyberattack affecting flight operations.
SkyWest, Inc. (NASDAQ: SKYW) is set to host a live conference call on October 28, 2021 at 2:30 p.m. MT to discuss its third quarter 2021 results. The call will include a detailed overview of quarterly results followed by a Q&A session. Interested participants can access the call via a webcast or through dedicated call-in numbers for both US and international callers. A digital rebroadcast will be available from 5:30 p.m. MT on October 28 until November 11, 2021.
SkyWest, Inc. (NASDAQ: SKYW) has entered a multi-year capacity purchase agreement with Delta Air Lines to acquire 16 new E175 aircraft, set to be operational by year-end 2022. These new aircraft will replace 16 CRJ900s currently under contract with Delta. SkyWest is the largest owner/operator of E175s globally. President and CEO Chip Childs expressed optimism about strengthening their partnership with Delta as they work towards full recovery in domestic travel.
Spartan College of Aeronautics and Technology and SkyWest Airlines (NASDAQ: SKYW) are launching the SkyWest Pilot Career Pathway at Spartan's Tulsa campus to address the growing demand for certified pilots. This partnership aims to secure a pipeline of qualified students from the start of their training. Spartan Cadets may benefit from tuition reimbursement and scholarships based on program milestones. The initiative is designed to make aviation careers accessible to a broader audience and includes plans for a similar pathway for Aviation Maintenance Technicians in the future.
SkyWest reported Q2 2021 financial results, showing a net income of $62 million, or $1.22 per diluted share, a significant rebound from a net loss of $26 million in Q2 2020. Revenue surged 88% to $657 million, driven by a 157% increase in block hours. Operating expenses rose 53% to $542 million, impacted by increased flights. SkyWest improved cash reserves to $956 million while reducing total debt to $3 billion. The company anticipates resuming aircraft deliveries with new E175 aircraft by mid-2023.
SkyWest, Inc. (NASDAQ: SKYW) will hold a conference call on July 29, 2021, at 2:30 p.m. Mountain Time to discuss its second quarter 2021 results. The call will feature a summary of quarterly financials followed by a Q&A session. Interested parties can join via US call at 1-866-982-4145 or international call at 1-873-415-0275. A rebroadcast will be accessible post-call until August 12, 2021, through specific dialing options, ensuring stakeholders can review the financial performance.
SkyWest, Inc. (NASDAQ: SKYW) has entered into a 12-year capacity purchase agreement with Alaska Airlines to acquire and operate eight new E175 aircraft. This deal will increase SkyWest's fleet under its Alaska partnership to 40 aircraft by mid-2022. SkyWest, recognized as the largest owner/operator of the E175 globally, aims to enhance its operational capacity amidst recovery from the pandemic. CEO Chip Childs emphasized the aircraft's significance in maintaining essential services during challenging times.
FAQ
What is the current stock price of Skywest (SKYW)?
What is the market cap of Skywest (SKYW)?
What does SkyWest Inc. do?
Where is SkyWest Inc. headquartered?
Which airlines does SkyWest partner with?
How many aircraft does SkyWest operate?
What recent aircraft acquisition did SkyWest make?
What is SkyWest's business model?
How many destinations does SkyWest serve?
How many flights does SkyWest operate daily?
What is SkyWest's workforce size?
What partnership has SkyWest formed to improve crew management?
