SkyWest Says 3Q Profit Rises On Flying Increase

ST. GEORGE, Utah (AP) — SkyWest Inc., which operates SkyWest Airlines and Atlantic Southeast Airlines, said on Thursday its third-quarter profit rose 9.2 percent as it did more flying for its big-airline customers.

The carrier earned $28.6 million, or 50 cents per share, up from $26.2 million, or 45 cents per share, during the same period last year.

Analysts surveyed by Thomson Reuters expected a profit of 45 cents per share.

Revenue fell 31.7 percent to $637.7 million from $934.1 million. That's because fuel prices dropped sharply, and SkyWest's fuel expenses are generally paid by its customers.

The number of hours SkyWest flew during the quarter rose 3.2 percent from a year earlier.

Not counting fuel, SkyWest's operating and interest expense per available seat mile fell 4.3 percent as its airline partners took over many of its customer service duties.

At the same time, its maintenance expense rose $5.5 million as its fleet aged. Including maintenance, materials, and repairs, expenses rose 20 percent to $119.1 million.

SkyWest shares rose 54 cents, or 3.9 percent, to $14.55 in midday trading.