Skywest, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2021
July 29, 2021 at 04:01 pm EDT
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SkyWest, Inc. announced earnings results for the second quarter ended June 30, 2021. For the second quarter, the company announced total revenue was USD 656.990 million compared to USD 350.039 million a year ago. Operating income was USD 115.023 million compared to operating loss of USD 4.403 million a year ago. Net income was USD 61.994 million compared to net loss of USD 25.715 million a year ago. Basic earnings per share from continuing operations was USD 1.23 compared to basic loss per share from continuing operations of USD 0.51 a year ago. Diluted earnings per share from continuing operations was USD 1.22 compared to diluted loss per share from continuing operations of USD 0.51 a year ago. For the half year, total revenue was USD 1,191.545 million compared to USD 1,079.975 million a year ago. Operating income was USD 195.865 million compared to USD 61.918 million a year ago. Net income was USD 97.894 million compared to USD 4.273 million a year ago. Basic earnings per share from continuing operations was USD 1.95 compared to USD 0.09 a year ago. Diluted earnings per share from continuing operations was USD 1.93 compared to USD 0.08 a year ago.
SkyWest, Inc. is the holding company for SkyWest Airlines, Inc. (SkyWest Airlines) and SkyWest Leasing, Inc. (SkyWest Leasing), an aircraft leasing company. The Company operates through two segments: SkyWest Airlines and SWC, and SkyWest Leasing. SkyWest Airlines offers scheduled passenger service to destinations in the United States, Canada and Mexico. The Company's flights are operated as United Express, Delta Connection, American Eagle or Alaska Airlines flights under code-share agreements with United Airlines, Inc., Delta Air Lines, Inc., American Airlines, Inc. or Alaska Airlines, Inc., respectively. SkyWest Airlines has a fleet of approximately 500 aircraft. SkyWest Charter, LLC (SWC) offers on-demand charter service using CRJ200 aircraft in a 30-seat configuration. SkyWest Leasing finances new aircraft with debt under its capacity purchase agreements, consisting of its E175 aircraft. SkyWest Leasing is also engaged in leasing aircraft and engines to third parties.