wrightbros
Active member
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- Mar 26, 2013
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SkyWest, Inc. Announces Third Quarter and YTD 2013 Results
6:45 AM ET 11/6/13 | PR Newswire
At September 30, 2013, SkyWest had $727.8 million in cash and marketable securities, compared to $709.4 million as of December 31, 2012.
"Increased operating revenues by approximately $32.9 million (net of fuel, certain engine overhaul and landing fee pass through revenues), primarily related to rate escalations under SkyWest's agreements with its major partners and increased block hour production.
Made cash payments of $22.9 million consisting of $11.5 million for the repurchase of 800,000 shares of treasury stock and $11.4 million for deposits on new aircraft
-- Increased total aircraft fleet to 756 aircraft as of September 30, 2013, compared to 739 aircraft as of September 30, 2012
Commenting on the results, Jerry C. Atkin, SkyWest's Chairman and CEO, said "We are pleased with the improved financial performance for the current quarter. However, in spite of current challenges we remain committed to further improvement in meeting our current and long-term operational and financial objectives."
In other words SKYW is making a ton of money, flying is increasing, the rates they get paid are increasing and I assume with larger aircraft rates are even higher....but we intend on forcing concessions on pilots so we can make another 5-8 million a year.
Keep in mind folks inflation is around 1 1/2 - 2% right now and sure to go up...the social security tax is going up 1.5% next year, that means we need 3.5% just to break even. I assume the union is being pressured to take concessions or the flying will go else where. Where is the unity? Where is the fight?
Cash on hand going up, revenue going up, flying going up, pilots in demand....concessions????? I can't wait to hear the excuses if ALPA caves.
6:45 AM ET 11/6/13 | PR Newswire
At September 30, 2013, SkyWest had $727.8 million in cash and marketable securities, compared to $709.4 million as of December 31, 2012.
"Increased operating revenues by approximately $32.9 million (net of fuel, certain engine overhaul and landing fee pass through revenues), primarily related to rate escalations under SkyWest's agreements with its major partners and increased block hour production.
Made cash payments of $22.9 million consisting of $11.5 million for the repurchase of 800,000 shares of treasury stock and $11.4 million for deposits on new aircraft
-- Increased total aircraft fleet to 756 aircraft as of September 30, 2013, compared to 739 aircraft as of September 30, 2012
Commenting on the results, Jerry C. Atkin, SkyWest's Chairman and CEO, said "We are pleased with the improved financial performance for the current quarter. However, in spite of current challenges we remain committed to further improvement in meeting our current and long-term operational and financial objectives."
In other words SKYW is making a ton of money, flying is increasing, the rates they get paid are increasing and I assume with larger aircraft rates are even higher....but we intend on forcing concessions on pilots so we can make another 5-8 million a year.
Keep in mind folks inflation is around 1 1/2 - 2% right now and sure to go up...the social security tax is going up 1.5% next year, that means we need 3.5% just to break even. I assume the union is being pressured to take concessions or the flying will go else where. Where is the unity? Where is the fight?
Cash on hand going up, revenue going up, flying going up, pilots in demand....concessions????? I can't wait to hear the excuses if ALPA caves.
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