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SkyWest, Inc. Announces Agreement With Embraer For 100 Firm And 100 Options E175 Regional Jets

Stocks in this article: SKYW









ST. GEORGE, Utah, May 21, 2013 /PRNewswire/ -- SkyWest, Inc. ("SkyWest") (NASD:SKYW) announced today that it has entered into an agreement with Embraer for the purchase of 100 new E175 dual-class regional jet aircraft. Of the 100 aircraft, 40 are considered firm deliveries and the remaining 60 aircraft are considered conditional until SkyWest enters into capacity purchase agreements with other major airlines to operate the aircraft.  Deliveries for the 40 firm aircraft are anticipated to begin in the second quarter of 2014 and continue through mid 2015. The aircraft will be configured in 76 seats in dual-class. The agreement also includes options for an additional 100 E175 aircraft and would be valued at USD 8.3 billion if all 200 aircraft are ordered.  The initial 40 firm aircraft outlined above will be operated by SkyWest Airlines, Inc.  ("SkyWest Airlines") a wholly-owned subsidiary of SkyWest, Inc., under a new agreement with United Airlines, Inc. ("United").

SkyWest management believes reaching this agreement brings to conclusion a thorough process that also included the negotiation of support and long-term maintenance agreements that will enable SkyWest to efficiently manage the operating costs of the new aircraft.  SkyWest management also believes it has developed an industry-leading agreement that will allow SkyWest to offer competitive benefits to its major partners. 

"We are pleased with the agreement between Embraer and SkyWest that represents the culmination of a long and creative process for the acquisition and long-term management of the initial 40 firm aircraft to be operated for United" said Bradford R. Rich, SkyWest President.  He continued, " the selection of the E-Jet was based on the customer acceptance, fuel efficiency and attractive operating costs that are offered by this equipment type. We hold the Embraer team in high regard and look forward to a long-term future of operating these E-Jets." 

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