SkyWest Airlines (St. George, Utah) operating United Express flight UA 5316 from Monterey, CA to Los Angeles International Airport (LAX) made a successful left-wheels up emergency landing on runway 24L at LAX yesterday (May 11). The 43 passengers and crew members were able to safely evacuate the Bombardier (Canadair) CRJ200 (CL-600-2B19) N932SW (msn 7714).
LAX issued this short statement:
SkyWestAirlines Flt 5316 safely conducted emergency landing at #LAX. All passengers/crew safe. Mechanics inspecting to determine cause
SkyWest Airlines (St. George, Utah) on May 5 operated its last Embraer EMB-120 Brasilia revenue flight. Flight UA 5165 operated from Santa Maria to Los Angeles with the pictured EMB-120ER Brasilia N567SW (msn 120342).
SkyWest made this brief announcement on Facebook:
After more than 28 years, SkyWest’s EMB-120s completed their final flights. This plane has been a workhorse of our fleet and has played a big role in our history.
Copyright Photo Below: Michael B. Ing/AirlinersGallery.com. N567SW arrives at Los Angeles International Airport.
SkyWest, Inc. (SkyWest Airlines and ExpressJet Airlines) (St. George, Utah) reported net income of $9.6 million, reversing a previous net off of $22.9 million in the same quarter a year ago.
The company removed 15 Embraer EMB-120 Brasilias from service along with 29 50-seat aircraft previously operated for United Express. The represents a net reduction in the combined fleet of 24 aircraft. SkyWest will further reduced the fleet by another 60 aircraft by the end of this year. The company is eliminating unprofitable aircraft and contract routes.
Here is the full financial report:
SkyWest, Inc. reported financial and operating results for the quarter ended March 31, 2015.
SkyWest generated $9.6 million of net income, or $0.18 per diluted share, for Q1 2015. This represents an after-tax improvement of $32.5 million from Q1 2014, which had a net loss of $(22.9) million, or $(0.44) per diluted share.
Q1 2015 Financial Highlights
Pre-tax income increased $59 million from Q1 2014 primarily due to improved operating performance, additional flying contracts and improved recovery from weather disruptions.
SkyWest generated $100 million in EBITDA in Q1 2015, compared to $35 million in Q1 2014.
Revenue included improvements of $21 million from higher flight completion rates and $33 million from the additional E175 operations, improved contract rates from renewals and extensions and improved contract performance incentives. These improvements provided a significant offset to the anticipated revenue decrease from a reduced fleet size and production.
Operating expenses were down by $74 million compared to Q1 2014, primarily driven by improved operating efficiencies and a net decrease in production.
Q1 2015 Operational Update
ExpressJet’s adjusted completion rate significantly improved to 99.6% in Q1 2015 from 98.0% in Q1 2014. SkyWest Airlines adjusted completion rate also improved to 99.3% in Q1 2015 from 99.0% in Q1 2014.
ExpressJet reduced its number of total cancelled flights, including weather cancellations, to 7,300 flights, or 4.5% of scheduled flights, in Q1 2015, from approximately 20,400, or 10.6% of scheduled flights, in Q1 2014. Additionally, SkyWest Airlines reduced its number of total cancelled flights, including weather cancellations, to 3,500 flights, or 2.3% of scheduled flights, in Q1 2015, from 6,400 flights, or 4.1% of scheduled flights, in Q1 2014.
April 30, 2015
SkyWest was named one of “America’s Best Employers 2015” by Forbes ®. SkyWest is the only regional airline company included on the 2015 list.
The reduction in ExpressJet’s ERJ145 operations was the primary driver in SkyWest’s 6.4% reduction in departures and a 5.5% reduction in block hours compared to Q1 2014.
Total aircraft in service went to 693 at March 31, 2015 from 717 December 31, 2014, summarized as follows:
o Added nine new E175 aircraft with United
o Added five used 50-seat aircraft with Delta and six used 50-seat aircraft with American
o Removed 15 EMB120 aircraft from service
o Removed 29 50-seat aircraft from service previously operated with United
Under a previously announced agreement with Alaska Airlines, SkyWest Airlines is scheduled to take delivery of seven new E175 aircraft between Q2 2015 and the Q1 2016.
Commenting on the results, Chip Childs, SkyWest, Inc. President said, “Our first quarter results reflect strong progress on our long-term objectives to improve operating performance and reduce the number of aircraft operating in unprofitable flying contracts. During the quarter we continued execution of our fleet transition plan and we expect this transition to continue through 2016. First quarter’s positive results demonstrate solid execution of these long-term strategic objectives to improve profitability.”
Q1 2015 Capital and liquidity update
SkyWest had $480 million in cash and marketable securities at March 31, 2015. Cash and marketable securities decreased $79 million during Q1 2015, primarily due to $46 million in scheduled semi-annual aircraft lease pre-payments and SkyWest’s investment of $36 million to acquire E175 aircraft and $10 million to acquire E175 spare parts and engines.
Long-term debt increased $164 million from December 31, 2014 to March 31, 2015. The increase was primarily due to the issuance of $203 million of long-term debt for nine E175 aircraft delivered during Q1 2015, partially offset by principal payments made on total outstanding debt.
Copyright Photo: Mark Durbin/AirlinersGallery.com. SkyWest removed 15 Embraer EMB-120ER Brasilias from service during the quarter. Embaer EMB-120ER Brasilia N560SW (msn 120334) prepares to taxi from the gate at San Francisco International Airport (SFO).
SkyWest Airlines aircraft slide show (in-house liveries):
SkyWest Airlines (United Express) (St. George, Utah) initially issued this short statement concerning its United Express flight UA 5622 that made an emergency landing at Buffalo on April 22:
SkyWest Flight 5622 landed safely in Buffalo, NY after a passenger lost consciousness, no problem with door. Other 75 pax being accommodated.
The Los Angeles Times, now quoting the airline, is reporting three passengers lost consciousness on flight UA 5622. The three passengers were sitting near each other in seats 11B, 12A and 12B. Flight UA 5622 was operating from the Chicago (O’Hare) hub (ORD) to Hartford/Springfield at Bradley International Airport (BDL).
The flight crew notified ATC of a pressurization problem and declared an emergency. The aircraft was quickly descended to a safe altitude before landing.
The flight was operated with Embraer ERJ 170-200LR (ERJ 175) N131SY (msn 17000450).
Each of the new jet flights from Salt Lake City to West Yellowstone will be onboard the 50-seat Canadair Regional Jet (Bombardier) CRJ200 regional jets. There will be two daily flights Thursday through Monday and one daily flight on Tuesday and Wednesday.
SkyWest Airlines has provided scheduled passenger service to the West Yellowstone community since 1986.
Copyright Photo: Michael B. Ing/AirlinersGallery.com. SkyWest Airlines’ Bombardier CRJ200 (CL-600-2B19) N447SW (msn 7677) prepares to depart from Long Beach.
SkyWest Airlines (St. George, Utah) has issued this statement:
United Express flights from the San Luis Obispo County Regional Airport (SBP) are getting an upgrade with new jet service! On April 7. SkyWest Airlines will begin operating daily United Express jet service from SBP to the state’s top destinations: Los Angeles (LAX) and San Francisco (SFO).
The upgraded flights will be onboard the 50-passenger Canadair Regional Jet (CRJ200). Flight schedules will also be adjusted to ensure consistent seat availability, starting with two daily flights to San Francisco and three daily flights to Los Angeles. From there, passengers will be able to easily connect onto nearly 500 daily flights to hundreds of destinations on United’s worldwide network.
Copyright Photo: Michael B. Ing/AirlinersGallery.com. Bombardier (Canadair) CRJ200 (CL-600-2B19) N958SW (msn 7833) of SkyWest Airlines climbs away from Los Angeles International Airport.