SKYWEST Inc. 4th Qtr. results

damnflyboy

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As per the conference call:

Pilots are largely to blame for the disproportionate company losses in profit due to guarantee pay, which is to be addressed in the future. (They also mentioned regularly scheduled MX)

Uh oh. So much for minimum salary. Looks like we'll eventually be working for tips/ straight commission like restaurant servers.

Do we need an STC for tip jars?

How long before the 25 minute turns transform into 15 minute turns. Keep em' flying!

On your marks, get set...COMPLAIN!
 
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SiuDude

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He also said that they found flying for 7 of ASA's 20 CRJs leaving next year.
 

damnflyboy

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He also said that they found flying for 7 of ASA's 20 CRJs leaving next year.

Yea, he said that it's still in the works...but it more or less looks good for the 200s because time is on their side.
 

www.

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And he also said that they may "sub lease" them.
 

Medeco

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It is always Inc. doing the quarterly calls, with people from both ASA and Skywest in the room or on the phone.

Medeco
 

CheeseDick

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they are going to help the brazilian airline that skywest purchased a 20% stake in
 

erikgigem

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Skywest/ASA will lose its $9 million that Midwest Airlines owes them when they go bankrupt within the year. Airtran is aggressively pursuing the market to squeeze Midwest out. The economy is merciless to the struggling majors.

SOURCE: Business Journal Milwalkee
http://www.bizjournals.com/milwaukee/stories/2009/02/09/daily40.html

Regional airline SkyWest Inc. reported a decline in fourth-quarter profit and revenue, largely because of cutbacks in service by partners like Midwest Airlines and other carriers.

St. George, Utah-based SkyWest (NASDAQ: SKYW), which flies as United Express, Delta Connection and Midwest Connect, also said that Oak Creek-based Midwest Airlines now owes SkyWest $9 million in weekly payments that were deferred when the two airlines agreed to reduce their services agreement from 21 aircraft to 12 aircraft.

The services agreement modification, announced in November, was signed in the third quarter and includes amounts Midwest owed to SkyWest at the end of the second quarter of 2008. SkyWest said it deferred another $1.1 million in payments in the fourth quarter of 2008.

Under the agreement, Midwest is scheduled to start repaying the debt, with interest, in four quarterly payments beginning Aug. 31, 2009.

SkyWest reported net income of $21.2 million or 37 cents per share, for the quarter ended Dec. 31, 2008, down 48 percent compared with $40.9 million, or 66 cents per share, for the same period the year before.

Revenue declined 13 percent to $743.3 million from $854.7 million for the same period last year.

SkyWest said its major partners have reduced flight schedules, resulting in a reduction in revenue of about $30 million, while decreased fuel cost reimbursements reduced revenue by $83 million. The capacity reduction increased costs-per-available-seat-mile by nearly 14 percent, the airline said
 

SnowBoardBum

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Its only a 5% initial equity stake in Trip. Not 20% yet. If Trip achieves specific performance criteria that stake will be increased incrementally to 20% by Feb. 2010.
 

outtahere

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So, what is the profit margin? Trying to figure my bonus.
 

MarineGrunt

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G 2/24

difete

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What about MESA?
 
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