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TheStreet Open House

SkyWest, Inc. Announces Agreement With American Airlines; Adds Major Code Share Partner

Stock quotes in this article: SKYW

ST. GEORGE, Utah, Sept. 12, 2012 /PRNewswire/ -- SkyWest, Inc. ("SkyWest") (NASD:SKYW) announced today that it has signed a Capacity Purchase Agreement ("CPA") with American Airlines, Inc. ("American") to operate 23 Bombardier CRJ200 regional jet aircraft under the American Eagle designation.  SkyWest currently anticipates that it will commence its American flights on November 15, 2012, with all 23 aircraft being placed in service prior to end of the first quarter 2013.   SkyWest intends to source the aircraft from its existing fleet where they have previously been operated in behalf of another major partner and anticipates that 12 of the aircraft will be flown by SkyWest Airlines, Inc. ("SkyWest Airlines") and 11 aircraft will be flown by ExpressJet Airlines, Inc. ("ExpressJet Airlines"). SkyWest also anticipates that the American aircraft will be primarily operated out of Los Angeles International Airport and Dallas/Fort Worth International Airport.

The CPA, which has a term of four years, provides for SkyWest, through its operating airlines SkyWest Airlines and ExpressJet Airlines, to be compensated in similar fashion to existing capacity purchase agreements with SkyWest's other major partners.

"This agreement is indicative of the credibility of the people and the operational quality of SkyWest, Inc.," said Bradford R. Rich, President—SkyWest, Inc.  He continued, "We look forward to operating under the American Eagle designation and establishing ourselves as a trusted and valuable long-term partner for American."

SkyWest is the holding company for two scheduled passenger airline operations and an aircraft leasing company and is headquartered in St. George, Utah. SkyWest's scheduled passenger airline operations consist of SkyWest Airlines, also based in St. George, Utah, and ExpressJet Airlines, based in Atlanta, Georgia.  SkyWest Airlines operates as United Express and Delta Connection carriers under contractual agreements with United Airlines, Inc. ("United") and Delta Air Lines, Inc. ("Delta").  SkyWest Airlines also operates as US Airways Express under a contractual agreement with US Airways, Inc., and operates flights for Alaska Airlines under a contractual agreement.  ExpressJet Airlines operates as United Express and Delta Connection carriers under contractual agreements with United and Delta. System-wide, SkyWest serves markets in the United States, Canada, Mexico and the Caribbean with approximately 4,000 daily departures and a fleet of approximately 725 regional aircraft.  This press release and additional information regarding SkyWest can be accessed at www.skywest.com

In addition to historical information, this release contains forward-looking statements.  SkyWest may, from time to time, make written or oral forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Such statements encompass SkyWest's beliefs, expectations, hopes or intentions regarding future events.  Words such as "forecasts," "expects," "intends," "believes," "anticipates," "should," "likely" and similar expressions identify forward-looking statements.  All forward-looking statements included in this release are made as of the date hereof and are based on information available to SkyWest as of such date.  SkyWest assumes no obligation to update any forward-looking statement.  Readers should note that many factors could affect the future operating and financial results of SkyWest, SkyWest Airlines and ExpressJet Airlines, and could cause actual results to vary materially from those expressed in forward-looking statements set forth in this release.  These factors include, but are not limited to, the ability of SkyWest to integrate and operate under the American Airlines CPA, the ability of ExpressJet Airlines to realize potential synergies and other anticipated financial impacts of the consolidation of its operations, the possibility that future financial and operating results of ExpressJet Airlines may not meet SkyWest's forecasts and the timing of ongoing consolidation of the operations of ExpressJet Airlines, if achieved.  

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