SKYW 2nd Qtr. 2008 Results

[XPOO]

SkyWest, Inc. 2nd Quarter 2008 Results

Some highlights:

SkyWest reported net income of $36.4 million on operating revenues of $950.8 million.

Total operating revenues for the second quarter of 2008 increased primarily as a result of increased fuel cost reimbursements.

SkyWest received the break-up fee from Continental of $6.3 million.

SkyWest recorded a full reserve against a $3.3 million Midwest receivable.

SkyWest purchased 1.4 million shares for approximately $21.8 million.

As of June 30, 2008, Delta has withheld a total of $32.5 million related to the IROP dispute.

At June 30, 2008, SkyWest had approximately $669.3 million in cash and marketable securities.

 

[COOPERVANE]

3.8% profit margin?

or Is it too early in the morning for me to do higher math?

 

[XPOO]

3.83% for SkyWest, Inc.

SkyWest Airlines was slightly higher if you are trying to figure your Operational Rewards.

 

[auspac]

What's going on with the Delta dispute? Is there a court date set?

 

[XPOO]

What's going on with the Delta dispute? Is there a court date set?

Besides the three paragraphs in the press release that cover the dispute, there is no further info on court dates.

 

[CheeseDick]

Just wait til the dispute is over and skyw has to put it on there books. A first time quarterly loss

If I recall correctly, they are accounting for the money like they are going to have it eventually.

 

[chitownflyer]

We also were the DOT #1 on-time (mainland) airline for June.

 

[NWA]

Pinnacle was #1 on mainland, Skywest 2nd.

 

[XPOO]

Pinnacle was #1 on mainland, Skywest 2nd.

Pinnacle does not meet the criteria, but they do voluntarily submit their performance data to the FAA.

 

[sstearns2]

Just wait til the dispute is over and skyw has to put it on there books. A first time quarterly loss

If I recall correctly, they are accounting for the money like they are going to have it eventually.

I'm pretty sure the stated total has been withheld is over multiple quarters.

Scott

 

[Medeco]

I'm pretty sure the stated total has been withheld is over multiple quarters.

Scott

I'm pretty sure your right.

Medeco

 

[SKYWRJGUY]

How will losing the dispute make it a quarterly loss? It's already not counted in our books [or there's...I suppose our books have location], and if it is recaptured, seems like it would be mostly profit. Still, I thought the original amount was $25M...

 

[DGdaPilot]

We also were the DOT #1 on-time (mainland) airline for June.

Are you ACARS equipped?

 

[SkyNation]

Are you ACARS equipped?

Yes, we are.

 

[DGdaPilot]

Ok just checking. I was gonna call BS on bragging about on-time performance if you weren't ACARS. Thx.


P.S. Yes, I know, I know....you can still creatively modify your Out time with ACARS, it's just not as easy.