SkyWest reverts to the red in the latest quarter

SkyWest (St. George) reported a net loss of $18.0 million, or $0.35 per basic and diluted share, for the quarter ended December 31, 2011, compared to $37.2 million of net income, or $0.67 per diluted share, for the same period last year.

The company’s foreign investments is also dragging the company down. Recorded additional $6.8 million loss attributable to SkyWest’s minority investments in Trip Linhas Aereas (TRIP) and Mekong Aviation Joint Stock Company (Air Mekong).

On November 12, 2010, SkyWest completed the acquisition of ExpressJet Holdings, Inc. (Houston) and ExpressJet Holdings became a subsidiary of Atlantic Southeast Airlines, Inc. (Atlanta), a wholly-owned subsidiary of SkyWest. During the fourth quarter of 2011, the operations conducted by ExpressJet Holdings and its subsidiaries were combined into Atlantic Southeast, and the combined operations are now conducted as ExpressJet Airlines, Inc.

Copyright Photo: James Helbock.

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