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SKYW profits plunge, still no fourlough?

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MoroniMetro

MoroniMetro

Well-known member
Joined
Nov 17, 2004
Posts
62
SKYW profits plunge, still no furlough?

So ASA has a grand ol' townhall meeting about profits decreasing, resetting of DCI rates, the need for cost reduction, a handful of days to drop or swap every month due to low coverage, and B.D. in the crew lounge yapping about the 700/900 block hrs. going up so much this summer they will have to offer time and half to cover trips, yet...

ASA more than doubles Skywest Inc.'s earnings, furloughs 80 pilots, downgrades, guts out flight training and standards, and looses 24 airframes...

Meanwhile...

Skywest pilots finally get an embarassing, dirtbag, "override" 700/900 pay rate, an actual paycheck for their F.O.'s before their Qual check, and keep an extra 200+ pilots on the payroll.

Am I the only one who sees the disparity?
I guess it's hard to tithe when one does not produce a paycheck : )
 
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MoroniMetro said:
So ASA has a grand ol' townhall meeting about profits decreasing, resetting of DCI rates, the need for cost reduction, a handful of days to drop or swap every month due to low coverage, and B.D. in the crew lounge yapping about the 700/900 block hrs. going up so much this summer they will have to offer time and half to cover trips, yet...

ASA more than doubles Skywest Inc.'s earnings, furloughs 80 pilots, downgrades, guts out flight training and standards, and looses 24 airframes...

Meanwhile...

Skywest pilots finally get an embarassing, dirtbag, "override" 700/900 pay rate, an actual paycheck for their F.O.'s before their Qual check, and keep an extra 200+ pilots on the payroll.

Am I the only one who sees the disparity?
I guess it's hard to tithe when one does not produce a paycheck : )
Click to expand...

Pay up beotch, the church is hurtin right now with membership down.

Trojan
 
ASA didnt double SKYW earnings, revenue yeah but earnings have dropped since the ASA acquisition, the only reason SKYW really makes money is from the Skywest side of the operation! Take a look at the earning on yahoo finance for the last 3 years and you will see that.
 
MoroniMetro said:
ASA more than doubles Skywest Inc.'s earnings... Am I the only one who sees the disparity?
Click to expand...

Let's see some sources. I don't think you have any--and if you do (Q1 2009 data not scheduled for release until May 6), you're probably reading them incorrectly. I'll accept answers in income statement form only.

Oh, and since you brought it up, I found this on a SKYW press release:

"It is estimated that ASA cancelled approximately 750 flights more than normal as a result of the severe weather and aircraft grounding during the quarter. As a result, ASA experienced a negative impact on revenues currently estimated to be approximately $7.6 million pretax."

Something to think about, anyway.

-Goose
 
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Goose, to much work to look at the year end reports on the SKYW website (not worth my time in this discussion) , but I have been there nearly ten years, profit per qrtr before the ASA purchase was usually in the 35-50 million dollar range, after the purchase that didnt really change. This means revenue increased but profits didnt, ASA has been either losing money or barely breaking even since the SKYW purchase.
 
s.o.sJTB said:
Goose, to much work to look at the year end reports on the SKYW website (not worth my time in this discussion) , but I have been there nearly ten years, profit per qrtr before the ASA purchase was usually in the 35-50 million dollar range, after the purchase that didnt really change. This means revenue increased but profits didnt, ASA has been either losing money or barely breaking even since the SKYW purchase.
Click to expand...

I could also mean you have no idea how to read a balance sheet....
 
s.o.sJTB said:
Goose, to much work to look at the year end reports on the SKYW website (not worth my time in this discussion) , but I have been there nearly ten years, profit per qrtr before the ASA purchase was usually in the 35-50 million dollar range, after the purchase that didnt really change. This means revenue increased but profits didnt, ASA has been either losing money or barely breaking even since the SKYW purchase.
Click to expand...

I respectfully disagree with your numbers.
ASA almost doubled your profits in the first full year of operations with the Consolidated reporting. You would need to compare 2006 with 2004. If memory serves, the last quarter of 2005 was the first reporting period of the Consolidated operations.
 
MoroniMetro said:
So ASA has a grand ol' townhall meeting about profits decreasing, resetting of DCI rates, the need for cost reduction, a handful of days to drop or swap every month due to low coverage, and B.D. in the crew lounge yapping about the 700/900 block hrs. going up so much this summer they will have to offer time and half to cover trips, yet...

ASA more than doubles Skywest Inc.'s earnings, furloughs 80 pilots, downgrades, guts out flight training and standards, and looses 24 airframes...

Meanwhile...

Skywest pilots finally get an embarassing, dirtbag, "override" 700/900 pay rate, an actual paycheck for their F.O.'s before their Qual check, and keep an extra 200+ pilots on the payroll.

Am I the only one who sees the disparity?
I guess it's hard to tithe when one does not produce a paycheck : )
Click to expand...

Clearly your frustrations are aimed elsewhere. Just look your avatar. Having said that, you really don't think that if Jerry and company needed to choose between SKW and ASA that they will choose the latter right? Financially doesn't make sense to go with a union Airlines as far as management is concern. They will bleed ASA before they touch SKW.
Override is being here for a long time.
By the way dude, live and let it live. If somebody has a religion preference, who cares. If bothers you that much, go seek help.
 
Browntothebone said:
Skywest isn't furloughing because they are NON union. ASA is furloughing because they are union.
Click to expand...

Another loser garbage troll comment by the loser with nothing to do but give his opinion where nobody cares to read it!
 
Brazilgun said:
They will bleed ASA before they touch SKW.
Click to expand...

I think that was metro's point. And a very valid one. I don't believe he was looking for a fight so much as he was pointing out the obvious.





eP.
 
Each Airline, "SkyWest" and "ASA" have there own goals. SkyWest meet the goal + some. ASA did not make the goal, and barley made a profit. Im sure if SkyWest would have not made the goal they would lay pilots off. but they manage to do fine through the VOL and time off programs. "ASA" on the other hand needs to do somthing to get back in line with there goals. Two seperate airlines running under one umbrela.Thats why the numbers look weird. Because they don't report them seperate.
 
Browntothebone said:
Skywest isn't furloughing because they are NON union. ASA is furloughing because they are union.
Click to expand...

I really don't see the connection with furlough or non-furlough and being union or not. But, believe what you want. I wll be PMing you later this fall when the other shoe drops. Until then, have a good Summer!
 
SKYWEST INC. is profitable. This is quite an achievement in this difficult environment. Skywest likes being profitable. It continuously strives to maintain value for shareholders. Skywest doesn't Fook around...
 
Brazilgun said:
Clearly your frustrations are aimed elsewhere. Just look your avatar. Having said that, you really don't think that if Jerry and company needed to choose between SKW and ASA that they will choose the latter right? Financially doesn't make sense to go with a union Airlines as far as management is concern. They will bleed ASA before they touch SKW.
Override is being here for a long time.
By the way dude, live and let it live. If somebody has a religion preference, who cares. If bothers you that much, go seek help.
Click to expand...

That's why Brad Holt is still on the Skywest pilots' senority list. Atleast he'll have someplace to go back to. He was no dummy. He negotiated that before he accepted the ASA job.
 
Erlanger said:
That's why Brad Holt is still on the Skywest pilots' senority list. Atleast he'll have someplace to go back to. He was no dummy. He negotiated that before he accepted the ASA job.
Click to expand...

Funny, just talked to Brad. Said if ASA were to fail, all of SkyWest would go under as well. I guess that's why most of St. George is transferring to ATL. I'd be a little more worried about the United side of things.....Not looking too hot over there.

Trojan
 
USCtrojan said:
Funny, just talked to Brad. Said if ASA were to fail, all of SkyWest would go under as well. I guess that's why most of St. George is transferring to ATL. I'd be a little more worried about the United side of things.....Not looking too hot over there.

Trojan
Click to expand...
I don't think it's looking too hot on any side of the house right now. Not fun to think about at all...
 
USCtrojan said:
Funny, just talked to Brad. Said if ASA were to fail, all of SkyWest would go under as well. I guess that's why most of St. George is transferring to ATL. I'd be a little more worried about the United side of things.....Not looking too hot over there.

Trojan
Click to expand...

You're so funny Trojan. I know Brad didn't say such things. I've been at Skywest along time and I know Brad personally. I'm not buddies with him but I do know him and even went flying with him from St. George to Phoenix and back in a C206 once. I just saw Brad barely 2 weeks ago in St. George. Brad has his house in St. George, his family still lives here and he spends alot of his time in St. George and still manages to run ASA.

If ASA fails Skywest fails. Are you kidding? How did Skywest manage all these years on it's own before it bought ASA? I don't think Skywest is worried about United or Delta. If you did speak to Brad did he tell you about the contingency plans Skywest has if United went under? It's not a secret. Ask him next time. No guarantee it will work but it's a viable one.

Employees are not leaving Skywest for ASA because they are worried about Skywest going under. Brad has been bringing them there to help out cause your own management sucks. Brad told me afew of months ago that in time he may have to fire anyone in a managerial position and change the mindset there.

Also do you know how Skywest, ASA and the holding company Skywest, Inc is set up? The holding company is in St. George. Skywest, Inc only has 2 employees, Jerry Atkin and the CFO(can't remember his name). Almost all administrated work for the holding company is done by Skywest employees. ASA submits its records to Skywest and Skywest personel does the auditing for Skywest, Inc. I guess Jerry doesn't trust ASA to do it's own. ASA pays 60% of Jerry's and the CFO salary, Skywest pays 40% and ASA pays Skywest a fee to do it's records. I would bet that any Skywest personel that is in Atlanta doing work for ASA is still a Skywest employee. I can assure you that Skywest employees at HQ don't want to be employed by ASA. They are extremely loyal people.

I know you're full of sh1t that you said you talked to Brad but if you did then you could again, so next time why don't you ask him why he's still on the Skywest senority list.

What else do you want to know?
 
Erlanger said:
You're so funny Trojan. I know Brad didn't say such things. I've been at Skywest along time and I know Brad personally. I'm not buddies with him but I do know him and even went flying with him from St. George to Phoenix and back in a C206 once. I just saw Brad barely 2 weeks ago in St. George. Brad has his house in St. George, his family still lives here and he spends alot of his time in St. George and still manages to run ASA.

If ASA fails Skywest fails. Are you kidding? How did Skywest manage all these years on it's own before it bought ASA? I don't think Skywest is worried about United or Delta. If you did speak to Brad did he tell you about the contingency plans Skywest has if United went under? It's not a secret. Ask him next time. No guarantee it will work but it's a viable one.

Employees are not leaving Skywest for ASA because they are worried about Skywest going under. Brad has been bringing them there to help out cause your own management sucks. Brad told me afew of months ago that in time he may have to fire anyone in a managerial position and change the mindset there.

Also do you know how Skywest, ASA and the holding company Skywest, Inc is set up? The holding company is in St. George. Skywest, Inc only has 2 employees, Jerry Atkin and the CFO(can't remember his name). Almost all administrated work for the holding company is done by Skywest employees. ASA submits its records to Skywest and Skywest personel does the auditing for Skywest, Inc. I guess Jerry doesn't trust ASA to do it's own. ASA pays 60% of Jerry's and the CFO salary, Skywest pays 40% and ASA pays Skywest a fee to do it's records. I would bet that any Skywest personel that is in Atlanta doing work for ASA is still a Skywest employee. I can assure you that Skywest employees at HQ don't want to be employed by ASA. They are extremely loyal people.

I know you're full of sh1t that you said you talked to Brad but if you did then you could again, so next time why don't you ask him why he's still on the Skywest senority list.

What else do you want to know?
Click to expand...

Well somebody has their Jjammies in a wad. Settle down. Brad's house was up for sale, don't know if it is anymore with the economy in its state. Tell him I said hi and thanks for doing such a great job at ASA when you see him. So what happens to SkyWest AIRLINES if it loses its United codeshare because they can't hang on? Read the annual report buddy, we're all on the same ship going in the same direction. Reference ASA's cancellations in early April...

You're right, our Mgmt. did suck, and there is still some cleaning to do. Why don't you step off your high and mighty? You don't like it... I don't like it either -- remember that.

Brad Rich is the CFO for SkyW. Inc.

Trojan
 
Why would he be full of it for talking to Brad? Not only did we have a "town hall meeting" the other day, Brad and Scott are very approachable here at ASA, so its VERY likely he talked to Brad the other day.

Oh yeah... And keep telling your self that Skywest has never furloughed a pilot, because as you elude to many times, it is Skywest that controls every aspect of ASA.
 
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