SKYWEST REPORTS NET LOSS FOR THE FIRST QUARTER

admin
By admin May 5, 2011 08:40

SKYWEST REPORTS NET LOSS FOR THE FIRST QUARTER

SkyWest, the Utah-based parent of regionals SkyWest Airlines, Atlantic Southeast Airlines and ExpressJet, has reported a first-quarter net loss of $11.1 million. This is the first time the airline group has posted a net loss.

Although this was well down on the same period last year, where the airline group posted a $15 million profit, it was better than SkyWest’s predictions. Bradford Rich, executive vice president and CFO said that the gloomy results were a direct result of the severe winter storms early in the year which meant the airlines flew significantly less.

Revenues for the first quarter was up 37% to $866 million, driven by the addition of ExpressJet. Expenses rose 47% to $865.7 million, which put the group’s operating income on $227,000, much less than the $42.4 million operating profit in same quarter a year ago.

Thanks to the ExpressJet acquisition, consolidated traffic jumped 48% to 6.4 billion RPMs on a 53% rise in capacity to 8.6 billion ASMs, producing a load factor of 74.9%, down 2.2 points. Yield dipped 8.4% to 13.1 cents as RASM lowered 9.8% to 10.1 cents and CASM decreased 4.6% to 10.3 cents.

admin
By admin May 5, 2011 08:40
Write a comment

No Comments

No Comments Yet!

Let me tell You a sad story ! There are no comments yet, but You can be first one to comment this article.

Write a comment

Only <a href="http://www.aviationnews-online.com/wp-login.php?redirect_to=http%3A%2F%2Fwww.aviationnews-online.com%2Fairline%2Fskywest-reports-net-loss-for-the-first-quarter%2F"> registered </a> users can comment.