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.

 

[ASAFOE120]

I thought it was a dumb move when LASA was purchased with us having to be the second lowest cost DCI carrier within a few years.

 

[Plainsman]

This would have never happened if Surejets would have stuck!

 

[russtgol]

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

They already admitted it was a big mistake to purchase Xjet and organic growth is the way to go.

 

[hou757]

They already admitted it was a big mistake to purchase Xjet and organic growth is the way to go.

When did they admit this?

 

[russtgol]

When did they admit this?

About a year and a half ago during the earnings call..

 

[cybourg10]

About a year and a half ago during the earnings call..

Prove it.........I have listened to every call and that was never stated. In fact, the opposite was stated by Jerry at the ASA/XJT/SKW pilot powwow in DEN over a year ago. Good troll though.

 

[russtgol]

Prove it.........I have listened to every call and that was never stated. In fact, the opposite was stated by Jerry at the ASA/XJT/SKW pilot powwow in DEN over a year ago. Good troll though.

"Prove it" what are you 10 years old. I don't care if you believe it or not.

 

[cybourg10]

"Prove it" what are you 10 years old. I don't care if you believe it or not.

Even if I was ten years old I could manage this airline better than ATL or SGU. You can spout off whatever you want but if what you said was true it would be easy to find the statement, but you can't because you are trolling and doing a piss poor job at it.

 

[XPOO]

Prove it.........I have listened to every call and that was never stated. In fact, the opposite was stated by Jerry at the ASA/XJT/SKW pilot powwow in DEN over a year ago. Good troll though.

Would this be the "PowWow" where JA and CC were lured to DEN under false pretenses, and they promptly got up and left, and a certain CP found themselves flying the line again? Ok, then.

 

[russtgol]

Even if I was ten years old I could manage this airline better than ATL or SGU. You can spout off whatever you want but if what you said was true it would be easy to find the statement, but you can't because you are trolling and doing a piss poor job at it.

So go manage an airline than. Funny, it looks like SGU can manage SkyWest Airlines just fine. After all thats how they got the coin to buy two failing airlines!

 

[Nevets]

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.

Actually, the current XJT CPA (and the previous one also), were negotiated by Skywest.

About a year and a half ago during the earnings call..

I heard Brad Rich couple of quarters ago reiterate the opposite.

So go manage an airline than. Funny, it looks like SGU can manage SkyWest Airlines just fine. After all thats how they got the coin to buy two failing airlines!

Yes, they manage Skywest just fine, yet they are a disaster managing IROPs at XJT. Where is the disconnect?

Still think it's going to pass easily?

 

[hou757]

Look at the routes Skywest flies. Mostly good weather stuff. Of course they can manage that. Stick most of their flying on the East coast and expect a different result!

 

[russtgol]

Actually, the current XJT CPA (and the previous one also), were negotiated by Skywest.





I heard Brad Rich couple of quarters ago reiterate the opposite.





Yes, they manage Skywest just fine, yet they are a disaster managing IROPs at XJT. Where is the disconnect?

Still think it's going to pass easily?

He said it was a good move and glad they did it? Then why on earth is Xjet downsizing?

 

[XPOO]

Look at the routes Skywest flies. Mostly good weather stuff. Of course they can manage that. Stick most of their flying on the East coast and expect a different result!

Good routes? Like ATL/ASE? SFO/MMH? LAX/JAC? SFO/SUN? DEN/YMM? LAX/YLW? ORD/CMX? SFO/ACV? SLC/COD? Daily flow program in SFO? Mmmkay

 

[hou757]

Good routes? Like ATL/ASE? SFO/MMH? LAX/JAC? SFO/SUN? DEN/YMM? LAX/YLW? ORD/CMX? SFO/ACV? SLC/COD? Daily flow program in SFO? Mmmkay

Sorry but all those run better than the most on the east coast. It's a fact you guys have much fewer wx cncls that XJT.

 

[XPOO]

Sorry but all those run better than the most on the east coast.

There's no sense arguing with someone who will call 27 flights a day into/out of ASE a walk in the park. You win.

 

[Nevets]

He said it was a good move and glad they did it? Then why on earth is Xjet downsizing?

Did you not read the rest of my post? Bad management is the reason. And that's not really what he said anyway. But you know better than us. You said it would pass easily, right?

 

[DHPFLYN]

There's no sense arguing with someone who will call 27 flights a day into/out of ASE a walk in the park. You win.

I hate to tell you but aside from Aspen if the weather is bad you have nothing else. Flow into SFO? come on you can do better than that

 

[hou757]

There's no sense arguing with someone who will call 27 flights a day into/out of ASE a walk in the park. You win.

You sir have obviously not had much experience with all the delays on the east coast during the winter. Still no excuse for the way SkyWest Inc is handling these IROPS this winter.

 

[bmpilot2003]

Did you not read the rest of my post? Bad management is the reason. And that's not really what he said anyway. But you know better than us. You said it would pass easily, right?

Bad Mangament, yea not really. XJT was crumbling when they bought it, since then manament hasnt been able to turn it around and now they have cut the operation down. I fully expected this anyways and was quite surprised when they didn't downsize it intially.