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July 27, 2014
13:18 EDTSKYWSkyWest sees Q2 EPS (28c)-(23c), consensus 22c
There are three primary factors that contributed to SkyWest's determination of the estimated results as outlined above. First, SkyWest made certain tax true-ups in its tax provision as a result of changes in its estimates of annual pretax income or loss from those previously estimated. Second, SkyWest recorded valuation allowances of certain tax receivables and write-downs of ground handling equipment and other assets. Third, SkyWest experienced reduced revenues from missed incentives under its flying contracts with its major partners as a result of lower on-time performance and completion of flights and SkyWest implemented new Federal Aviation Administration rules, as required, early in 2014 regarding initial crew qualifications and flight and duty rest rules which are resulting in increased crew costs. A more detailed explanation of the foregoing items, as well as other factors which affected SkyWest's operating performance and financial results for the quarter ended June 30 will be given when SkyWest announces its reviewed financial results, which is currently planned to occur on August 6.
News For SKYW From The Last 14 Days
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November 25, 2014
08:48 EDTSKYWEmbraer and SkyWest confirm $301M order for seven E175 jets
Embraer (ERJ) and SkyWest (SKYW), have confirmed a firm order for seven E175 jets. The aircraft will be flown by SkyWest Airlines under a Capacity Purchase Agreement, or CPA with Alaska Airlines. The value of the firm order, which will be included in Embraer's 2014 fourth-quarter backlog, is estimated at $301M based on 2014 list prices. These aircraft are part of SkyWest's previous order for 100, E175 current generation E-Jets with an additional 100 options placed in May 2013, taking the firm order number to a total of 47.
08:03 EDTSKYWAlaska Air expands partnership with SkyWest
Alaska Airlines (ALK) announced it is expanding its partnership with SkyWest (SKYW) with the addition of three new destinations from Alaska's Northwest hubs. Flying on new Embraer E175 jets, Alaska will begin offering daily nonstop service starting July 1 between Seattle and Milwaukee, Wisconsin; Seattle and Oklahoma City, Oklahoma; and Portland, Oregon and St. Louis. SkyWest has purchased seven E175 aircraft to fly on behalf of Alaska under a capacity purchase agreement. The first three aircraft will arrive in the summer of 2015, and the remaining four will be delivered in Q1 2016.
November 17, 2014
18:25 EDTSKYWSkyWest sees Q4 pre-tax charge of $55M-$70M
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