July 22, 2005 09:24 AM ET SkyWest 2Q Profit Climbs 23 Percent
All Associated Press News
ST. GEORGE, Utah (AP) - Regional air carrier SkyWest Inc. said Friday that second-quarter profit rose 23 percent, as revenue was lifted by increased capacity.
Net income grew to $24.8 million, or 42 cents per share, from $20.1 million, or 34 cents per share, last year. The results were in line with analysts' expectations, according to a Thomson Financial survey.
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Revenue grew 44 percent to $384 million from $267.4 million a year ago, as the airline boosted capacity by 45 percent. Available seat miles for the quarter ended June 30 grew to 2.54 billion from 1.75 billion a year ago, as the airline increased the size of its fleet to 223 aircraft from 191.
For the quarter, revenue passenger miles -- defined as one passenger flown one mile -- grew 48 percent to 1.91 billion, and load factor -- the percentage of seats filled with passengers -- rose 1.9 points to 75.3 percent from last year.
The airline operates United Express and Delta Connection regional jets under contract with United Airlines and Delta Air Lines, respectively.
All Associated Press News
ST. GEORGE, Utah (AP) - Regional air carrier SkyWest Inc. said Friday that second-quarter profit rose 23 percent, as revenue was lifted by increased capacity.
Net income grew to $24.8 million, or 42 cents per share, from $20.1 million, or 34 cents per share, last year. The results were in line with analysts' expectations, according to a Thomson Financial survey.
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Revenue grew 44 percent to $384 million from $267.4 million a year ago, as the airline boosted capacity by 45 percent. Available seat miles for the quarter ended June 30 grew to 2.54 billion from 1.75 billion a year ago, as the airline increased the size of its fleet to 223 aircraft from 191.
For the quarter, revenue passenger miles -- defined as one passenger flown one mile -- grew 48 percent to 1.91 billion, and load factor -- the percentage of seats filled with passengers -- rose 1.9 points to 75.3 percent from last year.
The airline operates United Express and Delta Connection regional jets under contract with United Airlines and Delta Air Lines, respectively.