SKYW profits plunge, still no fourlough?

[MoroniMetro]

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 : )

 

[flyboyzz1]

this should be fun

 

[MoroniMetro]

this should be fun

The truth often hurts.

 

[flyboyzz1]

you more than me...obviously

 

[USCtrojan]

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 : )

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

Trojan

 

[s.o.sJTB]

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.

 

[flyboyzz1]

there really is no point arguing with this guy...he's just looking for a fight

 

[Goose Egg]

ASA more than doubles Skywest Inc.'s earnings... Am I the only one who sees the disparity?

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

 

[s.o.sJTB]

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.

 

[crj567]

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.

I could also mean you have no idea how to read a balance sheet....