SKYW 4th Qtr 2013 Results

[XPOO]

Link to the press release can be found here.

Highlights:

Profit of $8.6M on $804.4M in revenues compared to $13.9M on $810.7M the previous year.

Escalated training costs associated with FAR 117

Escalated maintenance costs due to incoming used aircraft. Fleet grew from 744 to 757 year over year.

Expense of securing E175 certification.

 

[Freebrd]

Hey dispatcher boy, it costs money to make money. FUPM!

 

[PBRstreetgang]

Link to the press release can be found here.

Highlights:

Profit of $8.6M on $804.4M in revenues compared to $13.9M on $810.7M the previous year.

Escalated training costs associated with FAR 117

Escalated maintenance costs due to incoming used aircraft. Fleet grew from 744 to 757 year over year.

Expense of securing E175 certification.

Whow! from aprox 1.5% profit to just slightly over 1.0% profit, hope the houseboats don't need new water slides!

 

[atlcrjdriver]

The general msg is get ready for some shrinkage. The contracts L-XJTs former mgmnt group signed with labor and UAL were both at a loss. Thus now SKW, Inc must go back to UAL to renegotiate and probably park a/c. Also, the labor contract was made w/ bright roses colored glasses and must be revamped.

We CAN have a fair contract that doesn't give away the farm but also keeps the company competitive.

 

[veneratio]

The general msg is get ready for some shrinkage. The contracts L-XJTs former mgmnt group signed with labor and UAL were both at a loss. Thus now SKW, Inc must go back to UAL to renegotiate and probably park a/c. Also, the labor contract was made w/ bright roses colored glasses and must be revamped.

We CAN have a fair contract that doesn't give away the farm but also keeps the company competitive.

The contract that the former L-XJT mgmnt group (WAS FORCED TO SIGN) was a result of Skywest Inc. When Skywest purchased L-XJT, they knew what type of contract and cba L-XJT had.

 

[atlcrjdriver]

L-XJT was acquired out of bankruptcy and got SKW inc. a firm footing in UAL. The problem now is at what cost long term. There is a reason that L-XJT was in bankruptcy to start with and the contract with UAL to op a/c at a lose and an unreasonable cba are two major factors.

 

[flynd94]

L-XJT was acquired out of bankruptcy and got SKW inc. a firm footing in UAL. The problem now is at what cost long term. There is a reason that L-XJT was in bankruptcy to start with and the contract with UAL to op a/c at a lose and an unreasonable cba are two major factors.

Can you please point me to the news release stating Xjet was in bankruptcy? Also when Skywest acquired Xjet all the CPA's were renegotiated by Skywest Inc.

PS Xjet was never in bankruptcy.

 

[atlcrjdriver]

You are absolutely correct L-XJT never actually entered bankruptcy however they have been losing money for a long tx quarter over quarter. In the last quarter prior to merger they lost over 18 mil.

 

[hou757]

Skywest you renegotiated the cpa's. You only have yourself to blame for LXJT financial status..

 

[atlcrjdriver]

Yes they did with a five year rate protection and 2015 reset.