Welcome to our dedicated page for Skywest news (Ticker: SKYW), a resource for investors and traders seeking the latest updates and insights on Skywest stock.
SkyWest Inc. (SKYW) operates as a leading regional airline partner for major U.S. carriers, providing essential air connectivity through its dual focus on flight operations and aircraft leasing. This page serves as the definitive source for all official company announcements and market-relevant updates.
Investors and industry professionals will find curated news spanning earnings reports, fleet expansions, partnership developments, and operational milestones. The repository includes press releases detailing SKYW's cost-efficient regional service model, technology integrations for crew management, and strategic agreements with global aviation partners.
Content is organized to highlight material developments while maintaining compliance with financial disclosure standards. Regular updates ensure stakeholders can track SKYW's performance in regional aviation markets and leasing activities. Bookmark this page for streamlined access to verified information supporting informed analysis of the company's market position.
Spartan College of Aeronautics and Technology and SkyWest Airlines (NASDAQ: SKYW) are launching the SkyWest Pilot Career Pathway at Spartan's Tulsa campus to address the growing demand for certified pilots. This partnership aims to secure a pipeline of qualified students from the start of their training. Spartan Cadets may benefit from tuition reimbursement and scholarships based on program milestones. The initiative is designed to make aviation careers accessible to a broader audience and includes plans for a similar pathway for Aviation Maintenance Technicians in the future.
SkyWest reported Q2 2021 financial results, showing a net income of $62 million, or $1.22 per diluted share, a significant rebound from a net loss of $26 million in Q2 2020. Revenue surged 88% to $657 million, driven by a 157% increase in block hours. Operating expenses rose 53% to $542 million, impacted by increased flights. SkyWest improved cash reserves to $956 million while reducing total debt to $3 billion. The company anticipates resuming aircraft deliveries with new E175 aircraft by mid-2023.
SkyWest, Inc. (NASDAQ: SKYW) will hold a conference call on July 29, 2021, at 2:30 p.m. Mountain Time to discuss its second quarter 2021 results. The call will feature a summary of quarterly financials followed by a Q&A session. Interested parties can join via US call at 1-866-982-4145 or international call at 1-873-415-0275. A rebroadcast will be accessible post-call until August 12, 2021, through specific dialing options, ensuring stakeholders can review the financial performance.
SkyWest, Inc. (NASDAQ: SKYW) has entered into a 12-year capacity purchase agreement with Alaska Airlines to acquire and operate eight new E175 aircraft. This deal will increase SkyWest's fleet under its Alaska partnership to 40 aircraft by mid-2022. SkyWest, recognized as the largest owner/operator of the E175 globally, aims to enhance its operational capacity amidst recovery from the pandemic. CEO Chip Childs emphasized the aircraft's significance in maintaining essential services during challenging times.
SkyWest reported a net income of $36 million for Q1 2021, or $0.71 per diluted share, an increase from $30 million in Q1 2020. Revenue decreased by 27% to $535 million due to reduced flight operations amid the COVID-19 pandemic. Operating expenses fell 32% to $454 million, aided by $193 million in payroll support grants. SkyWest holds $836 million in cash and marketable securities and plans to utilize a $725 million secured loan facility. Future deliveries of CRJ700 aircraft are set as part of agreements with American and Delta Airlines.
SkyWest, Inc. (NASDAQ: SKYW) announced a $250 million agreement under the Payroll Support Program 3 with the U.S. Treasury, received partially on April 23, 2021. The funds will support employee wages and benefits while imposing restrictions on terminations, dividends, and executive compensation. Additionally, SkyWest secured $35 million from the Payroll Support Program Extension (PSP 2), also on April 23, with specific loan terms and warrants issued. This funding aims to stabilize the company amid ongoing challenges posed by the COVID-19 pandemic.
On April 15, 2021, 1health announced a partnership with SkyWest Airlines (NASDAQ: SKYW) to provide COVID-19 testing for the airline's employees nationwide. 1health's Testing as a Service platform will offer a saliva-based test and a rapid antigen nasal swab test, enhancing health safety measures during the pandemic. The saliva test allows for self-administration and delivers results within 48 hours, while the nasal swab test provides results in as little as 10 minutes. This collaboration aims to facilitate safe travel and promote employee health.
SkyWest, Inc. (NASDAQ: SKYW) will hold a conference call on April 29, 2021, at 2:30 p.m. MT to discuss its first quarter 2021 results. The call will include an overview of the quarterly performance and a Q&A session. U.S. participants can call 1-877-418-5293, and international callers can reach 1-412-717-9593. A digital rebroadcast will be accessible from 4:30 p.m. MT on April 29 until May 13, 2021. For more details, interested parties can access the live call via PR Newswire Webcast.
SkyWest reported a Q4 2020 net loss of $46 million, or $0.93 loss per share, significantly lower than Q4 2019's net income of $73 million. For the full year, SkyWest's revenue declined 28% to $2.1 billion due to the impact of COVID-19. Q4 revenue fell 21% year-over-year to $590 million, despite a sequential increase from Q3. The company ended 2020 with $826 million in cash and marketable securities. SkyWest's total debt rose to $3.2 billion.
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