Skywest Earnings

[zawillif]

I may be wrong but weren't we supposed to get the other half of a performance check on the day the earnings were announced?

 

[COOPERVANE]

was it over 1%?

We don't know because they disabled the P+ profit tracking on xjet.com

Wonder why?

 

[Oakum_Boy]

I too am curious where money is being made or lost. For myself these numbers are interesting because Skywest Inc's trend is now towards greater profitability. It makes little sense for them to ask or expect concessions from us when we are profitable even if those profit margins are in the single...

Yeah, but c'mon...they'll ask for concessions if they feel they can leverage it.

Seems expressjet is about 10mil behind SkyWest which is non-coincidentally the same concessionary number being tossed around

 

[Speedtape]

XPOO: Just because you type it, doesn't make it true.

 

[XPOO]

It's true, I have no reason to come on here and spout lies.

 

[bmpilot2003]

Lying? During the first conference call coinciding with the purchase and merging of Expressjet it was stated that expressjet under the current contracts at time of purchase would never be as profitable as OO. That statement did not sit well with several bank reps who asked questions.

 

[JumpersAway]

Who cares what the breakdown is? We are all standing on the deck (SkyWest Airlines, ASA, ExpressJet) of the same sinking ship. Arguing over which is the better contributor of the three is akin to arguing over which is the fastest horse in the glue factory.

I'm not taking pay cuts with double management groups and GO's. Also, what ever we (XJET) get contractually will be forced on the SkyWest side of things. To think otherwise is a fantasy and foolish. In short, one list is the only viable solution for Inc. until they alter their business model.

 

[Nevets]

I can't disclose exact numbers, but I can tell you that OO brought in the lion's share of the profit. EV did turn a profit, but very miniscule.

Don't know why you can't.
Here it is;
SkyWest profit = $11,891,650.37 = 82.7%
ASA/ExpressJet profit = $2,054,309.63 = 17.3%

Not that I don't believe you guys but this is what was said to us.

"SkyWest, Inc. 4Q12 Earnings
I’m guessing that many of you took some time to read SkyWest, Inc.’s 4Q12 earnings press release and/or listen to the earnings call last week. If you did, you know that our parent company reported a profit for the fourth quarter, in part due to some significant cost reductions and improved operations. Whenever an earnings report comes out I think it is a good time to review how ExpressJet fits into the SkyWest, Inc. portfolio. We are one of a number of interests that fall under the SkyWest, Inc. umbrella, and while SkyWest, Inc. reported a profit, ExpressJet continued to perform at a loss during the 4Q12 and for 2012 as a whole. Our losses were offset in the larger SkyWest, Inc. picture by profits of other SkyWest, Inc. entities.

While ExpressJet continues to operate at a loss, we have made incredible progress when compared to just a year ago. Cost reductions combined with improved operational performance continue to help our bottom line, and everyone’s efforts to build quality into everything we do will continue to help us return to profitability. So thanks to each of you for your hard work to make that happen."

Where did you get your information?

 

[Oakum_Boy]

We operate at a loss because we throw away money trying to save it.

 

[XPOO]

Where did you get your information?

On SkyWestOnline.com, under the financial rewards section. Listed is the amount of revenue SkyWest Airlines generated and the percentage of profit margin. A little simple math, and viola, you have the amount of profit. Minus SkyWest Airlines' profit from Inc's profit and you have the remaining profit generated by XJT/ASQ. I just figured MyASA.com (or whatever its called thesedays) would have something similar for you to look at.

 

[Nevets]

On SkyWestOnline.com, under the financial rewards section. Listed is the amount of revenue SkyWest Airlines generated and the percentage of profit margin. A little simple math, and viola, you have the amount of profit. Minus SkyWest Airlines' profit from Inc's profit and you have the remaining profit generated by XJT/ASQ. I just figured MyASA.com (or whatever its called thesedays) would have something similar for you to look at.

No, they disabled it. Just found it interesting that they tell us we lost money in 4Q12 when maybe we didn't.

 

[Freebrd]

I'm not taking pay cuts with double management groups and GO's. model.

not to mention people like SH who gets canned but they create another place for him. He's not the only one either. Look at some of these pilots that do "test" flights"or some other BS job cause they suck flying the line.

 

[OCP]

No, they disabled it. Just found it interesting that they tell us we lost money in 4Q12 when maybe we didn't.

All part of the "we need concessions to compete" doom an gloom, until we get a contract.

 

[COOPERVANE]

All part of the "we need concessions to compete" doom an gloom, until we get a contract.

Don't forget the popcorn machine in the crew lounge is now just too expensive. Costs $53/ quarter to provide popcorn and the money "just isn't there"

Will they be bold enough to cry too poor for coffee?

 

[Freebrd]

Big gal in CP office said they're trying to get rid of the "crew meals" too but it's in either the FAs or pilots contract to provide them. Must be in the FAs contract.

 

[Freebrd]

wonder if the bath room will have pay-to-poop toilet stalls soon

 

[centralpilot]

On SkyWestOnline.com, under the financial rewards section. Listed is the amount of revenue SkyWest Airlines generated and the percentage of profit margin. A little simple math, and viola, you have the amount of profit. Minus SkyWest Airlines' profit from Inc's profit and you have the remaining profit generated by XJT/ASQ. I just figured MyASA.com (or whatever its called thesedays) would have something similar for you to look at.

Don't forget SKYW, Inc. has other business units/investments besides SKYW and XJT.

 

[Nevets]

Don't forget SKYW, Inc. has other business units/investments besides SKYW and XJT.

Are you talking about Trip and Air Mekong? Are they both profitable investments? I know one of them isn't and the other one they are cashing out on. Maybe a small profit?

 

[centralpilot]

Are you talking about Trip and Air Mekong? Are they both profitable investments? I know one of them isn't and the other one they are cashing out on. Maybe a small profit?

That, plus aircraft leasing, Inc expenses, etc. it isn't much, but SKYW profit minus OO profit does not necessarily equal EV profit.

 

[JustaNumber]

However you should ask yourself why you want those numbers for each operation. If you are trying to gauge who is more efficient, deserving, valuable, right, wrong, or are just looking for ammunition against "the other side" this is an apples to oranges comparison. Skywest, LXJET, and LASA are totally different operations operating under very different contracts. Skywest Inc has different profit margin targets for each operation due to the contracts they have agreed to.

I'm actually amazed that ALPA hasn't ensured that every pilot is intimately familiar with his company's costs and revenues, and how his compensation fits into the company's and the industry's financial situation. I mean, how can we be expected to make decisions that supposedly will cause the survival or failure of our company if we don't know any numbers? "Just trust us" doesn't sit well with me.

I wonder if the Pinnacle pilot vote would have been different if they knew their REAL impact on the bottom line, especially compared to the numbers at other regionals?