Sky West 1Q Earnings

[flylowman]

SkyWest, Inc. (Nasdaq: SKYW) will host a conference call on Wednesday, May 2, 2007, to discuss the first quarter 2007 earnings results. The format will be to provide an overview of the results followed by a Q & A session.


The call-in number for domestic callers is 1-866-322-0204 The call-in number for international dialers is 1-706-679-2328 The conference ID # is 6517857Please call ten minutes before the scheduled hour to insure a prompt starting time. If you have any questions, please contact Tevya Hilsmann at (435) 634-3203.
Interested parties can also access the call live via PR Newswire Webcast at: http://www.videonewswire.com/event.asp?id=39337
In addition, a digital rebroadcast of the conference call will be available after 12:30 p.m., EST on May 2, 2007 through May 16, 2007. Domestic callers can access the rebroadcast by dialing 1-800-642-1687; international callers can access the rebroadcast by dialing 1-706-645-9291. The conference ID for the rebroadcast is 6517857.

We (ASA and Skywest) all should listen to this. We are all share holders. Lets see if Skyw can handle a pay raise.

 

[SKYWRJGUY]

Well, we're all stakeholders in any event. There's a lot of non-details here though--tap-dancing, ambiguous forward-looking statements--and it should be augments by the printed quarterly report where the details are more specific and better prepared.

 

[Morning Wood]

Oh yeah. Always lots of big CPA talk and buzz words that no one else understands. Just tell us if we made money or not.

 

[BoilerUP]

Oh yeah. Always lots of big CPA talk and buzz words that no one else understands. Just tell us if we made money or not.

I'm just a dumb pilot (hell, just ask those on here that know me...) with no accounting background, but learning how to read a 10-K or 10-Q will go a long way toward understanding your company's financial strength and weaknesses.

 

[~~~^~~~]

Someone should call in and ask the questions:

• Why do you have a redundant operation in Atlanta?
• ASA's pay rates are lower than SkyWest's total compensation. Last quarter you told us there were unexpected maintenance costs which increased as a result of transferring ASA aircraft to SkyWest. Why are you increasing costs for maintenance and crews?
• Delta is taking over all ATL ground handling. Does SkyWest still have control of their 27 gates in the Atlanta airport?
• Is SkyWest over exposed to 50 seat aircraft?
• Why doesn't SkyWest get into the next generation of jets? Why ceede a monopoly over E170/190 flying to Republic Airlines Holdings?
• What are your plans for the ASA asset?

Someone should call in....

 

[HelloNewman]

SkyW has already given a pay raise. ASA pilots should take a raise on the 50 and leave the 70 seat rates what they are. If not I believe they will be replaced. Pinnacle and more Mesa RJs are only the beginning. Quite frankly I would rather have ASA replaced than have them strike.

 

[ReverseSensing]

Quite frankly I would rather have ASA replaced than have them strike.

Of course you would, semen-breath.

 

[SkyNation]

Fins,

your comments are continually laced with sour grapes. I understand your frustration, but let me ask you: do you want to SkyWest Inc. to fail?

why or why not?

 

[SKYWRJGUY]

Well...

Actually, I think some of Fins' questions are good from an investor perspective, but on a call, we'd get the "we're still realizing operational efficiencies and exploring ways to decrease costs as well as increase quality for our major partners"--lotsa tap-dancing even to the most direct questions. Also, I'd be willing to bet they screen calls, so actually lofting a good one at them is probably pretty difficult. Companies are becoming even more reluctant to give forward-looking statements for fear of SEC reprisal or investor lawsuits.

As for the gate question, however, that seems like it would be easy: the leases or ownership is SKYW Inc and the assets would only become DAL's if they 'bought' them from us--handling and ownership are two different things. Even if DAL hypothetically downsized ATL specifically at the SKYW gates, SKYW could potentially still use the asset to generate money by subleasing or selling them to the likes of Southwest (a little ATL penetration), AirTran or even DAL if they were in a bind for space.

 

[~~~^~~~]

SkyNation: I would very much like SkyWest to be successful and be part of a team that provides an excellent and efficient product for our customers, making us the number one regional lift provider and thus maximizing the value of this company to our shareholders.

SkyWest has not returned my good wishes. Since we have been bought we have been treated like dead meat on the highway. Our juciest bits were immediately eaten and the rest ignored. At this point it seems most believe the outlook for ASA is that it will dry up and fade away.

Sour grapes, sure. I came in when you had to have ATP mins to pay for your E120 training. Then took a move to Dallas that cost even more. Some of us have made an investment in this place and were finally enjoying the left seat in the equipment of our choice and back to back two day trips with weekends off. Now I'm on another aircraft, flying unproductive four days over the weekends and looking for work because it appears my company is being run by a scavenger who has targeted us simply due to our representational misfortune.

Sour grapes - yes. It is strange when a company sets out on a course to destroy its most profitable division. I respect Mr. Atkin (for his power if nothing else) but even from your side of the line, isn't it curious to watch an airline being disembowled when it makes money?

 

[~~~^~~~]

Actually, I think some of Fins' questions are good from an investor perspective, but on a call, we'd get the "we're still realizing operational efficiencies and exploring ways to decrease costs as well as increase quality for our major partners"--lotsa tap-dancing even to the most direct questions. Also, I'd be willing to bet they screen calls, so actually lofting a good one at them is probably pretty difficult.

Usually there are few callers that participate and the calls are open. In fact, there alwas seem to be fewer questions than they have time for.

Interesting to watch....

 

[JoeMerchant]

SkyNation: I would very much like SkyWest to be successful and be part of a team that provides an excellent and efficient product for our customers, making us the number one regional lift provider and thus maximizing the value of this company to our shareholders.

SkyWest has not returned my good wishes. Since we have been bought we have been treated like dead meat on the highway. Our juciest bits were immediately eaten and the rest ignored. At this point it seems most believe the outlook for ASA is that it will dry up and fade away.

Sour grapes, sure. I came in when you had to have ATP mins to pay for your E120 training. Then took a move to Dallas that cost even more. Some of us have made an investment in this place and were finally enjoying the left seat in the equipment of our choice and back to back two day trips with weekends off. Now I'm on another aircraft, flying unproductive four days over the weekends and looking for work because it appears my company is being run by a scavenger who has targeted us simply due to our representational misfortune.

Sour grapes - yes. It is strange when a company sets out on a course to destroy its most profitable division. I respect Mr. Atkin (for his power if nothing else) but even from your side of the line, isn't it curious to watch an airline being disembowled when it makes money?

Fins,

This is a battle between ALPA and Atkin..... we are simply pawns in the game. The stakes are high, and neither side cares about you or I......

 

[SkyNation]

I'm predicting earnings of 3.5-4%

 

[Tomct]

SkyW has already given a pay raise. ASA pilots should take a raise on the 50 and leave the 70 seat rates what they are. If not I believe they will be replaced. Pinnacle and more Mesa RJs are only the beginning. Quite frankly I would rather have ASA replaced than have them strike.

Another "choice" post by a TRUE JACK AZZ!! You continue to paint the Skywst pilots into a corner. Thank goodness YOU are in the minority!
IDIOT!!!!

 

[Tomct]

And YET they don't want to pass on a Descent payraise to the employee groups? What a GREAT Company!

 

[capt. megadeth]

SkyW has already given a pay raise. ASA pilots should take a raise on the 50 and leave the 70 seat rates what they are. If not I believe they will be replaced. Pinnacle and more Mesa RJs are only the beginning. Quite frankly I would rather have ASA replaced than have them strike.

Nevermind. I'm not even going to bother with this one....

 

[XPOO]

Nevermind. I'm not even going to bother with this one....

And yet, in a way, you kind of did.

 

[BigLebowski]

Another "choice" post by a TRUE JACK AZZ!! You continue to paint the Skywst pilots into a corner. Thank goodness YOU are in the minority!
IDIOT!!!!

What corner would this be?

 

[Andy Neill]

Someone should call in and ask the questions:
.........
Someone should call in....

Although you can listen to the broadcast, only the subcribing stock analysts can ask questions. You can cough your head off, tap on the desk, listen to tunes, or anything else and no one will hear you.

 

[~~~^~~~]

Rough translation.

Overall, a disappointing quarter for SkyWest where they missed expectations and the stock is off slightly today. Costs are higher for training, fuel and maintenance. Sounds like nothing is on the horizon in the way of growth after this year.

In response to questions about Mesa, Pinnacle, Express Jet and Republic getting almost all the new bids....

"We don't know what other carriers are bidding to get this growth.... If we can't get the margin's we (need) we will not grow."

With regards to the hiring situation....

"We are not feeling it today (with regard to attrition) Our ability to hire applicants and the minimums have not ben effected."

The Q400...

"We have had opportunities to put in bids... we have not pursued them aggresively."

On Performance, which have hurt business and areas where they need to improve. The blame belongs on the SkyWest Inc., level....

"We made a decision to transfer some aircraft between ASA and SkyWest and that transfer caused issues with staffing and costs...."

"The 35 aircraft being placed in service is all we have in future growth on the books.... we are always hopeful"

As far as SkyWest's comments about its labor - it is surprising how out of touch St. George is with Atlanta. Maybe I'm reading this wrong and they know, but it was their intent to mislead investors. ASA is close to being released and if they walk it will impact SkyWest (2.2Bn in debt, 385 million in cash). Investors should be given appropriate guidance for the risk.

 

[HelloNewman]

Another "choice" post by a TRUE JACK AZZ!! You continue to paint the Skywst pilots into a corner. Thank goodness YOU are in the minority!
IDIOT!!!!

I would say I am more in the majority than the minority. The funniest thing I have seen in a long time was the OC letter about pilot apathy today. Who are they to tell us how to act? If we want to be apathetic then let us. I am definately apathetic about the union drive and the things the OC tries to make a big deal about. When it comes to participation in these type things the group is apathetc. Apathy is good, there are more important things in life to worry about than the crap ALPA wants us to waste our lives on.

The OC members accuse our group of being apathetic. I say that is much more of a compliment than an insult. The non apathetic groups such as ASA are getting spanked the the NMB. Here at SkyWest me and the other apathetic pilots have much more important things to worry about such as our next tee time, whats for dinner, etc. The stuff the OC wants us to worry about is way down the list. There is a very vocal minority here at skywest. Most of them are just bitter old fogies who were never able to move on in life.

 

[Tomct]

What corner would this be?

Oh...I don't know...one of the most hated...maybe!

 

[Tomct]

I would say I am more in the majority than the minority. The funniest thing I have seen in a long time was the OC letter about pilot apathy today. Who are they to tell us how to act? If we want to be apathetic then let us. I am definately apathetic about the union drive and the things the OC tries to make a big deal about. When it comes to participation in these type things the group is apathetc. Apathy is good, there are more important things in life to worry about than the crap ALPA wants us to waste our lives on.

The OC members accuse our group of being apathetic. I say that is much more of a compliment than an insult. The non apathetic groups such as ASA are getting spanked the the NMB. Here at SkyWest me and the other apathetic pilots have much more important things to worry about such as our next tee time, whats for dinner, etc. The stuff the OC wants us to worry about is way down the list. There is a very vocal minority here at skywest. Most of them are just bitter old fogies who were never able to move on in life.

Spoken like a true SJS lover! I know....flying a jet is OOOOOHHHHHH so cool. Try not to get any sunscreen on your sun glasses purched on your head full of jell!

 

[eaglefly]

Correct me if I'm wrong, but Skywest has no union.

As such, they will take what scraps management decides to throw them and be happy with what they're allowed to have.

That's why they're flying CRJ-700's but only getting paid for 70% of the seats. Management (apparently correctly) decided that's all their worth and the rest of that revenue goes to the pockets of others.

It's not like they have anything to say about it.

Yessir, yessir, thank you sir............................

 

[BigLebowski]

Correct me if I'm wrong, but Skywest has no union.

As such, they will take what scraps management decides to throw them and be happy with what they're allowed to have.

That's why they're flying CRJ-700's but only getting paid for 70% of the seats. Management (apparently correctly) decided that's all their worth and the rest of that revenue goes to the pockets of others.

It's not like they have anything to say about it.

Yessir, yessir, thank you sir............................

Funny, I believe are 50 seat rate is still higher than your 70 seat rate.
If we're going to get into the true "brotherhood" a union creates, that strong bond if you will; could you please explain to me why ALPA allowed ACA to do Comair flying while Comair was on strike years ago?

But you're right, I don't know what I'm talking about, because I'm not union.

I'll lay my W2 down next to yours anyday.

 

[BigLebowski]

Oh...I don't know...one of the most hated...maybe!

So...who hates us? Why?

 

[capt. megadeth]

And yet, in a way, you kind of did.

I know

 

[Tomct]

I'll lay my W2 down next to yours anyday.[/quote]


Because of STUPID comments like this for one!

 

[eaglefly]

Funny, I believe are 50 seat rate is still higher than your 70 seat rate.
If we're going to get into the true "brotherhood" a union creates, that strong bond if you will; could you please explain to me why ALPA allowed ACA to do Comair flying while Comair was on strike years ago?

But you're right, I don't know what I'm talking about, because I'm not union.

I'll lay my W2 down next to yours anyday.

Our checks aren't my point, but I averaged 118K last three years (126K for '06). 8% 401(k) with 100% match by company. Held AT LEAST 12 days off on every month in '06 (many months more). I do drive 20 miles to work, so I can make what I make.

Oh, and by the way.................I fly a 50-seater.

You carpet pissers' are beggars at the bargaining table, plain and simple aren't you dude..................that's the point.

 

[~~~^~~~]

You make an excellent point and we acknowledge that SkyWest pilots' total compensation is likely equal to, or in excess, of what ASA pilots are paid for similar work. SkyWest has also acknowleged that moving ASA's airplanes to SkyWest increased costs and that is why they stopped transferring them.

I don't know if any of us are in a position to be arrogant when it comes to our pay. If you listen to SkyWest's conference call their management is concerned about costs at SkyWest, particularly the cost of the different bonus programs.

It may be misunderstood, but it appears that SkyWest's bonus program pays in situations where their customers' bonus programs do not. In other words, the customers' apparently use different adjustments for on time and completion factor.

What we need to do is come together so that ASA and SkyWest pilots are not whipsawed against eachother. The only justification for separate lists (and the increased cost redundancies) is to whipsaw the pilots. If you don't think the pay you brag about is a target - then you might want to look a little further down the road.