Skywest Inc Stock Price, News & Analysis

SkyWest, Inc. (NASDAQ: SKYW) is set to host a live conference call on October 28, 2021 at 2:30 p.m. MT to discuss its third quarter 2021 results. The call will include a detailed overview of quarterly results followed by a Q&A session. Interested participants can access the call via a webcast or through dedicated call-in numbers for both US and international callers. A digital rebroadcast will be available from 5:30 p.m. MT on October 28 until November 11, 2021.

SkyWest, Inc. (NASDAQ: SKYW) has entered a multi-year capacity purchase agreement with Delta Air Lines to acquire 16 new E175 aircraft, set to be operational by year-end 2022. These new aircraft will replace 16 CRJ900s currently under contract with Delta. SkyWest is the largest owner/operator of E175s globally. President and CEO Chip Childs expressed optimism about strengthening their partnership with Delta as they work towards full recovery in domestic travel.

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.