Tag Archives: ExpressJet

SkyWest reports first quarter net income of $9.6 million, downsizes the fleet by 24 aircraft

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): AG Airline Slide Show

AG Up-close action photography

United Express service is coming to Atlantic City, New Jersey

United Airlines (Chicago) today announced the airline will inaugurate service at Atlantic City International Airport, offering customers daily nonstop flights to United’s hubs at Chicago O’Hare International Airport and Houston’s George Bush Intercontinental Airport beginning on April 1, 2014..

From Chicago, United’s flight to Atlantic City will depart at 8:10 a.m. (0810) daily, arriving at 11:17 a.m. (1117). The return flight will depart Atlantic City at 11:52 a.m. (1152) and arrive in Chicago at 1:10 p.m. (1310).

From Houston, United’s flight to Atlantic City will depart at 7 p.m. (1900) daily, arriving at 11:20 p.m. (2320). The return flight will depart Atlantic City at 6 a.m. (0600) and arrive in Houston at 8:49 a.m. (0849).

United Express carrier ExpressJet Airlines (Atlanta) will operate the Atlantic City flights with 50-seat Embraer ERJ 145 aircraft.

Copyright Photo: Michael B. Ing/AirlinersGallery.com. ExpressJet Airlines’ Embraer ERJ 145XR (EMB-145XR) N12136 (msn 145719) arrives at the Chicago O’Hare hub.

United Airlines: AG Slide Show

United Express-ExpressJet: AG Slide Show

 

ExpressJet Airlines joins with Cape Air in the JetBlue University Gateway Program

ExpressJet Airlines (Atlanta) has joined the JetBlue University Gateway Program to give pilots a career path. The following statement was released:

The highly-successful University Gateway Program, a four-way collaboration with JetBlue Airways (New York), Cape Air (Hyannis), the University of North Dakota (UND) and Embry-Riddle Aeronautical University (ERAU), has added another airline.  ExpressJet Airlines, the largest regional airline in the world, will partner with Cape Air to provide a parallel path for aspiring pilots to join JetBlue. The Gateway Program has been designed to facilitate the early-entry of highly-qualified pilots from Aviation Accreditation Board International (AABI) programs, who have appropriate flight instructor experience, into Cape Air, where they further hone their skills. After gaining their Captain’s credentials at Cape Air, pilots can choose to interview with ExpressJet.  If accepted, they will be slotted for a training class providing valuable time as pilots in command.  They then will be eligible for a final interview with JetBlue after gaining their necessary hours.

There are now 140 pilots in the Gateway Program.  To date, four pilots have successfully completed the necessary steps and have been hired by JetBlue, with more qualifying for a final interview every month.  Cape Air expects as many as 50 pilots per year will eventually join JetBlue via the program.

Copyright Photo: Mark Durbin. ExpressJet’s Embraer ERJ 145XR (EMB-145XR) N16147 (msn 145749) is pictured at the Houston (Bush Intercontinental) hub operating as an United Express carrier.

United Express-ExpressJet: AG Slide Show

Routes flown for United Airlines:

Please click on the map for the full size view.

Please click on the map for the full size view.

ExpressJet to operate the Denver-Dickinson, North Dakota route for United

United Airlines (Chicago) has announced plans to launch twice-daily nonstop service from its Denver hub to Dickinson, North Dakota, beginning on June 6, 2013. ExpressJet Airlines (United Express) (Atlanta) will operate the United Express service using 50-seat regional jet aircraft.

“These new flights underscore United’s ongoing commitment to the Denver hub and complement our existing service to other energy markets in North Dakota,” said Randle Loveland, United’s director of regional sales in Denver. “North Dakota travelers will not only have access to Denver, but also convenient connections from the hub to other destinations, including the U.S. West Coast and Gulf Coast, Canada, Latin America and the Caribbean.

The flight schedules are as follows:

Denver – Dickinson Dickinson – Denver
Departs Arrives Departs Arrives
10:00 a.m. 11:32 a.m.   7:30 a.m. 9:00 a.m.
  8:15 p.m.   9:47 p.m. 11:57 a.m. 1:37 p.m.

Copyright Photo: Keith Burton. Embraer ERJ 145LR (EMB-145LR) N12921 (msn 145354) of ExpressJet Airlines approaches Toronto (Pearson) for landing.

United Airlines: AG Slide Show

United Express-ExpressJet Airlines: AG Slide Show

Route Map for the United Express operation:

Please click on the map for the full-size view.

Please click on the map for the full-size view.

United Airlines to restore two routes from the Cleveland hub

United Airlines (Chicago) will restore two United Express routes from the Cleveland hub. The Cleveland-Nashville route will be restored on January 13, 2013 followed by Cleveland-Oklahoma City on February 14, 2013 per Airline Route.

In other news, United Airlines yesterday (October 1) announced that it exceeded its 80 percent on-time domestic performance goal for the month of September, and is rewarding its eligible employees with a $50 on-time bonus to recognize this performance. The airline ended the month with an 82.0 percent domestic on-time arrival rate, showing continued significant improvement from the prior months.

Copyright Photo: Brian McDonough. Embraer ERJ 145LR (EMB-145LR) N15555 (msn 145594) prepares to land at Washington (Reagan National).

United Express-ExpressJet Airlines: 

United Airlines to launch two new routes from the Cleveland hub

United Airlines (Chicago) has announced plans to launch daily nonstop service from its Cleveland hub at Hopkins International Airport to Nashville and Oklahoma City, Oklahoma. The United Express flights will be operated by ExpressJet Airlines (United Express) (Atlanta) using 50-seat regional jet aircraft, with the Nashville service beginning on December 19, 2012, and the Oklahoma City service beginning on February 14, 2013.

The weekday flight schedules are as follows:

Cleveland – Nashville Nashville – Cleveland
Departs Arrives Departs Arrives
8:55 a.m. 9:25 a.m. 11:45 a.m. 2:10 p.m.
5:00 p.m. 5:40 p.m. 5:45 p.m. 8:05 p.m.
Cleveland – Oklahoma City Oklahoma City – Cleveland
Departs Arrives Departs Arrives
8:40 a.m. 10:30 a.m. 10:55 a.m. 2:30 p.m.

Separately, United will also discontinue service between Cleveland and Green Bay, Wisconsin, effective December 18, 2012. United will continue to offer connecting service between Cleveland and Green Bay through Chicago (O’Hare).

In other news, United is dropping the twice-weekly Guam-Okinawa route on October 31.

Copyright Photo: Tony Storck. Embraer ERJ 145LR (EMB-145LR) N14959 (msn 145091) prepares to land at Baltimore/Washington.

United Airlines: 

United Express-ExpressJet Airlines: