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atrude777
Topic Author
Posts: 4424
Joined: Wed Aug 13, 2003 11:23 pm

SkyWest Reports Q3 2020 Profit

Fri Oct 30, 2020 5:19 pm

Source: http://inc.skywest.com/assets/Uploads/P ... 9-2020.pdf

"ST. GEORGE, UTAH, Oct29,2020--SkyWest, Inc. (NASDAQ: SKYW) (“SkyWest”) today reported financial and operating results for Q32020, including net income of $34million, or $0.66per diluted share,compared to net income of $91million, or $1.79per diluted share,for Q32019.The primary factor in SkyWest’s lower results in Q32020 compared to Q32019 was reduced flight schedules and lower demand resulting from the COVID-19 pandemic."

Some Hilights and News from this reagarding United, Alaska, and Delta...

Delta
*Continued reduction of CRJ200 flying under Delta by end of 2020. Will add 4 new E175 and 1 new CRJ900

American Airlines
*Purchasing 20 more E175 for American Airlines flying, and adding 20 more CRJ700 flying to total 90 CRJ700 flying under AA Brand

United
*Continued transition of Delta CRJ200 to United Brand, and still going through the leasing of 21 CJ700 to be converted to CR550 for an unnamed regional airline.

So..is this a total of 45 E175 now flying for AA with SkyWest?

I assume the CRJ7000 is coming from Mesa to be leased to G7? Maybe, Air Wisconsin?

Alex
Good things come to those who wait, better things come to those who go AFTER it!
 
MIflyer12
Posts: 8475
Joined: Mon Feb 18, 2013 11:58 pm

Re: SkyWest Reports Q3 2020 Profit

Fri Oct 30, 2020 5:28 pm

'We made $34 million after that $190 million CARES Act Payroll Support Program grant.'
 
HNLSLCPDX
Posts: 253
Joined: Sun Nov 01, 2015 5:40 pm

Re: SkyWest Reports Q3 2020 Profit

Fri Oct 30, 2020 5:30 pm

Glad to see OO doing well. Also good to see that another Utah company is performing good. Utah’s economy has been one of the best during this pandemic.
 
slcdeltarumd11
Posts: 4843
Joined: Fri Jan 09, 2004 7:30 am

Re: SkyWest Reports Q3 2020 Profit

Fri Oct 30, 2020 8:33 pm

Pretty impressive and a well managed company. They of course lost money in reality but with the government money actually came out in the black. So it loos like Q4 probably a small loss if the government doesn't step in im guessing? Still impressive compared to everyone else. They are clearly going to survive this situation and be able to ride it out
 
AZORMP
Posts: 108
Joined: Thu Aug 01, 2019 5:08 pm

Re: SkyWest Reports Q3 2020 Profit

Sat Oct 31, 2020 12:11 am

Happy to see the continued removal of the RJ2 from DL. I think everyone can rejoice when the deuce is finally sent to the desert.
Kalamazoo’s Radio Man

The RJ2 sucks.
 
sldispatcher
Posts: 411
Joined: Thu Mar 29, 2007 3:55 am

Re: SkyWest Reports Q3 2020 Profit

Sat Oct 31, 2020 2:06 am

AZORMP wrote:
Happy to see the continued removal of the RJ2 from DL. I think everyone can rejoice when the deuce is finally sent to the desert.


Delta’s ‘loss’ is United’s ‘gain’ unfortunately. I have no idea where these execs form their favorable opinions of CRJ-200s.
 
alasizon
Posts: 2623
Joined: Sat Apr 28, 2007 8:57 pm

Re: SkyWest Reports Q3 2020 Profit

Sat Oct 31, 2020 2:13 am

atrude777 wrote:
So..is this a total of 45 E175 now flying for AA with SkyWest?

I assume the CRJ7000 is coming from Mesa to be leased to G7? Maybe, Air Wisconsin?

Alex


The E175 portion for AA is listed under previous deals so only the 700s are new.

The CR7s that are going to become 550s are already owned by OO, they are either going to ZW or YV. UA is pulling the strings on this one and OO is acting as the lessor, it just all depends on who UA awards the flying to.
Airport (noun) - A construction site which airplanes tend to frequent
 
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RyanairGuru
Posts: 8462
Joined: Wed Nov 01, 2006 3:59 am

Re: SkyWest Reports Q3 2020 Profit

Sat Oct 31, 2020 2:51 am

sldispatcher wrote:
AZORMP wrote:
Happy to see the continued removal of the RJ2 from DL. I think everyone can rejoice when the deuce is finally sent to the desert.


Delta’s ‘loss’ is United’s ‘gain’ unfortunately. I have no idea where these execs form their favorable opinions of CRJ-200s.


It’s to partially backfill the ExpressJet E145 operation. United execs don’t care if it’s an E145 or CRJ200 providing 50 seater capacity, but they were keen to close ExpressJet. Commut Air are taking some of the former ExpressJet flying, but not all of it. Some of the former ExpressJet aircraft are going to Commut and some are going to the desert. With these (fully depreciated) aircraft coming off contract at Delta, SkyWest probably gave United are fairly good deal on new 50 seat flying, as the alternative was to park the planes and furlough pilots and flight attendants.
Worked Hard, Flew Right
 
dstblj52
Posts: 521
Joined: Tue Nov 19, 2019 8:38 pm

Re: SkyWest Reports Q3 2020 Profit

Sat Oct 31, 2020 7:21 am

RyanairGuru wrote:
sldispatcher wrote:
AZORMP wrote:
Happy to see the continued removal of the RJ2 from DL. I think everyone can rejoice when the deuce is finally sent to the desert.


Delta’s ‘loss’ is United’s ‘gain’ unfortunately. I have no idea where these execs form their favorable opinions of CRJ-200s.


It’s to partially backfill the ExpressJet E145 operation. United execs don’t care if it’s an E145 or CRJ200 providing 50 seater capacity, but they were keen to close ExpressJet. Commut Air are taking some of the former ExpressJet flying, but not all of it. Some of the former ExpressJet aircraft are going to Commut and some are going to the desert. With these (fully depreciated) aircraft coming off contract at Delta, SkyWest probably gave United are fairly good deal on new 50 seat flying, as the alternative was to park the planes and furlough pilots and flight attendants.

Skywest basically had to find work for them SkyWest is always concerned about unions and a big part of their antiunion messaging is greater job security than any other regional furloughing people damages that messaging and the last thing skywest wants to do is trigger an alpa vote.
 
BBDFlyer
Posts: 28
Joined: Tue Dec 18, 2018 3:14 pm

Re: SkyWest Reports Q3 2020 Profit

Sat Oct 31, 2020 8:44 am

alasizon wrote:
atrude777 wrote:
So..is this a total of 45 E175 now flying for AA with SkyWest?

I assume the CRJ7000 is coming from Mesa to be leased to G7? Maybe, Air Wisconsin?

Alex


The E175 portion for AA is listed under previous deals so only the 700s are new.

The CR7s that are going to become 550s are already owned by OO, they are either going to ZW or YV. UA is pulling the strings on this one and OO is acting as the lessor, it just all depends on who UA awards the flying to.


The CR7s to 550s are being acquired from another company and then leased to another regional. It is possible that they are being acquired from GoJet and being leased back to them, but until the facts come out, it is all speculation.
 
dalmit
Posts: 22
Joined: Sat Aug 22, 2020 1:25 pm

Re: SkyWest Reports Q3 2020 Profit

Sun Nov 01, 2020 1:29 pm

BBDFlyer wrote:

The CR7s to 550s are being acquired from another company and then leased to another regional. It is possible that they are being acquired from GoJet and being leased back to them, but until the facts come out, it is all speculation.


I think you hit the nail on the head. Last month (Oct 2020) Skywest re-registerd about 20 CRJ-550s under their name, Skywest Airlines. Those frames are listed below. Curiously, unlike the previous ones they leased to GoJet, these are registered as SKYWEST AIRLINES as opposed to SKYWEST LEASING. I wonder if they are planning to take over the flying from GoJet.

N521GJ
N534GJ
N535GJ
N536GJ
N537GJ
N538GJ
N539GJ
N540GJ
N541GJ
N542GJ
N543GJ
N544GJ
N545GJ
N546GJ
N547GJ
N549GJ
N551GJ
N552GJ
N553GJ
N554GJ
 
DiamondFlyer
Posts: 3411
Joined: Wed Oct 29, 2008 11:50 pm

Re: SkyWest Reports Q3 2020 Profit

Sun Nov 01, 2020 2:02 pm

AZORMP wrote:
Happy to see the continued removal of the RJ2 from DL. I think everyone can rejoice when the deuce is finally sent to the desert.


Will you rejoice when cities potentially lose service? Also, note, that the only CR2 removal is the CPA flying, not the at-risk/EAS flying.
From my cold, dead hands
 
AZORMP
Posts: 108
Joined: Thu Aug 01, 2019 5:08 pm

Re: SkyWest Reports Q3 2020 Profit

Sun Nov 01, 2020 5:49 pm

DiamondFlyer wrote:
AZORMP wrote:
Happy to see the continued removal of the RJ2 from DL. I think everyone can rejoice when the deuce is finally sent to the desert.


Will you rejoice when cities potentially lose service? Also, note, that the only CR2 removal is the CPA flying, not the at-risk/EAS flying.



Yes I am well aware that the removal only covers CPA flying.

Before the pandemic DL was engaged in the systematic upgauging of their non-EAS services with the arrival of the A220. With the retirement of the CR2 it would make sense that some cities would lose frequency but not the amount of departing seats.
Kalamazoo’s Radio Man

The RJ2 sucks.
 
rsgolfpunk
Posts: 29
Joined: Fri Oct 06, 2017 10:21 pm

Re: SkyWest Reports Q3 2020 Profit

Sun Nov 01, 2020 8:55 pm

So how much 200 at-risk flying will OO do for DL?
 
MIflyer12
Posts: 8475
Joined: Mon Feb 18, 2013 11:58 pm

Re: SkyWest Reports Q3 2020 Profit

Sun Nov 01, 2020 9:05 pm

AZORMP wrote:
DiamondFlyer wrote:
AZORMP wrote:
Happy to see the continued removal of the RJ2 from DL. I think everyone can rejoice when the deuce is finally sent to the desert.


Will you rejoice when cities potentially lose service? Also, note, that the only CR2 removal is the CPA flying, not the at-risk/EAS flying.



Yes I am well aware that the removal only covers CPA flying.

Before the pandemic DL was engaged in the systematic upgauging of their non-EAS services with the arrival of the A220. With the retirement of the CR2 it would make sense that some cities would lose frequency but not the amount of departing seats.


IMHO, people need to be prepared to lose destinations from the DL system, not just frequencies. Forty-five A220-100s won't go far in trying to replace 117 CR2s and 91 717s. Go ahead and add in the 50 A220-300s if you want to pretend none of those are replacing MD-88/MD-90/A320. As the 34 CR7s and oldest CR9s start to age-out things are going to get even uglier.

I don't see SkyWest taking on vastly more at-risk CR2 flying but if people know, please share.
 
HNLSLCPDX
Posts: 253
Joined: Sun Nov 01, 2015 5:40 pm

Re: SkyWest Reports Q3 2020 Profit

Mon Nov 02, 2020 2:38 am

rsgolfpunk wrote:
So how much 200 at-risk flying will OO do for DL?

Maybe some mountain west destinations via SLC and perhaps some small towns up in Michigan, Wisconsin, and Minnesota.
 
dstblj52
Posts: 521
Joined: Tue Nov 19, 2019 8:38 pm

Re: SkyWest Reports Q3 2020 Profit

Mon Nov 02, 2020 2:42 am

HNLSLCPDX wrote:
rsgolfpunk wrote:
So how much 200 at-risk flying will OO do for DL?

Maybe some mountain west destinations via SLC and perhaps some small towns up in Michigan, Wisconsin, and Minnesota.

however much is profitable its not like their is exactly a shortage of crj 200 frames in the desert
 
dstblj52
Posts: 521
Joined: Tue Nov 19, 2019 8:38 pm

Re: SkyWest Reports Q3 2020 Profit

Mon Nov 02, 2020 2:44 am

dalmit wrote:
BBDFlyer wrote:

The CR7s to 550s are being acquired from another company and then leased to another regional. It is possible that they are being acquired from GoJet and being leased back to them, but until the facts come out, it is all speculation.


I think you hit the nail on the head. Last month (Oct 2020) Skywest re-registerd about 20 CRJ-550s under their name, Skywest Airlines. Those frames are listed below. Curiously, unlike the previous ones they leased to GoJet, these are registered as SKYWEST AIRLINES as opposed to SKYWEST LEASING. I wonder if they are planning to take over the flying from GoJet.

N521GJ
N534GJ
N535GJ
N536GJ
N537GJ
N538GJ
N539GJ
N540GJ
N541GJ
N542GJ
N543GJ
N544GJ
N545GJ
N546GJ
N547GJ
N549GJ
N551GJ
N552GJ
N553GJ
N554GJ

gojet is in severe financial distress so I think it's likely they are about to go under, they were never that stable and i think gojet bid damn near cost on the 550's betting they could force the rate up as united had nowhere else with spare pilots but that option is gone and now that tsa and compass are gone gojet need to cover the overhead.
 
DLASFlyer
Posts: 181
Joined: Wed Jun 15, 2016 4:06 pm

Re: SkyWest Reports Q3 2020 Profit

Mon Nov 02, 2020 3:01 am

Delta's pronouncement about the CRJ-200s made it sound like they are entirely gone by 2025. Does DL really want their brand associated with puddle jumping on 25+ year old uncomfortable planes without wi-fi and first class? I get the small city thing, it just seems like Delta is dead set on upgauging. Might all at risk flying transition to the United brand and hubs?
 
n7371f
Posts: 1850
Joined: Fri Jul 04, 2008 3:54 pm

Re: SkyWest Reports Q3 2020 Profit

Mon Nov 02, 2020 3:04 am

It will be around 18 frames give or take.

rsgolfpunk wrote:
So how much 200 at-risk flying will OO do for DL?
 
n7371f
Posts: 1850
Joined: Fri Jul 04, 2008 3:54 pm

Re: SkyWest Reports Q3 2020 Profit

Mon Nov 02, 2020 3:07 am

The transaction is rather simple. GoJet selling the aircraft to SkyWest and in turn leasing the aircraft back. GoJet not financially healthy, their private owner is unwilling to put much if not any money back into the operation. Suave move by OO to gain further control over the 550 fleet. If GJ defaults or goes under, OO will just move the aircraft to AW or do the flying themselves. And as someone previously mentioned, yes, this transaction is being done in close coordination with UA.

BBDFlyer wrote:
alasizon wrote:
atrude777 wrote:
So..is this a total of 45 E175 now flying for AA with SkyWest?

I assume the CRJ7000 is coming from Mesa to be leased to G7? Maybe, Air Wisconsin?

Alex


The E175 portion for AA is listed under previous deals so only the 700s are new.

The CR7s that are going to become 550s are already owned by OO, they are either going to ZW or YV. UA is pulling the strings on this one and OO is acting as the lessor, it just all depends on who UA awards the flying to.


The CR7s to 550s are being acquired from another company and then leased to another regional. It is possible that they are being acquired from GoJet and being leased back to them, but until the facts come out, it is all speculation.
 
dstblj52
Posts: 521
Joined: Tue Nov 19, 2019 8:38 pm

Re: SkyWest Reports Q3 2020 Profit

Mon Nov 02, 2020 3:19 am

n7371f wrote:
The transaction is rather simple. GoJet selling the aircraft to SkyWest and in turn leasing the aircraft back. GoJet not financially healthy, their private owner is unwilling to put much if not any money back into the operation. Suave move by OO to gain further control over the 550 fleet. If GJ defaults or goes under, OO will just move the aircraft to AW or do the flying themselves. And as someone previously mentioned, yes, this transaction is being done in close coordination with UA.

BBDFlyer wrote:
alasizon wrote:

The E175 portion for AA is listed under previous deals so only the 700s are new.

The CR7s that are going to become 550s are already owned by OO, they are either going to ZW or YV. UA is pulling the strings on this one and OO is acting as the lessor, it just all depends on who UA awards the flying to.


The CR7s to 550s are being acquired from another company and then leased to another regional. It is possible that they are being acquired from GoJet and being leased back to them, but until the facts come out, it is all speculation.

It's telling that it's being done by Skywest Airlines not Skywest leasing who normally does transactions like this leading to the obvious implication that SkyWest expects they will be flying the aircraft sooner rather than later.
 
oosnowrat
Posts: 213
Joined: Mon Sep 17, 2012 6:55 pm

Re: SkyWest Reports Q3 2020 Profit

Mon Nov 02, 2020 4:36 am

DLASFlyer wrote:
Delta's pronouncement about the CRJ-200s made it sound like they are entirely gone by 2025. Does DL really want their brand associated with puddle jumping on 25+ year old uncomfortable planes without wi-fi and first class? I get the small city thing, it just seems like Delta is dead set on upgauging. Might all at risk flying transition to the United brand and hubs?


OO flew Brasilias in the DL system while DL was advertising an all-jet fleet.
 
alasizon
Posts: 2623
Joined: Sat Apr 28, 2007 8:57 pm

Re: SkyWest Reports Q3 2020 Profit

Mon Nov 02, 2020 5:32 pm

dstblj52 wrote:
It's telling that it's being done by Skywest Airlines not Skywest leasing who normally does transactions like this leading to the obvious implication that SkyWest expects they will be flying the aircraft sooner rather than later.


I don't know that it necessarily shows that - UA originally was never willing to pay OO anything more than 50-seater rates for the 550 so OO had turned them down. I highly doubt UA has pivoted on that choice - they were willing to go from G5 to ZW or YV, neither of which scream high rates.

The wording in the release also indicates it is exclusively for leasing.
SkyWest also secured agreements to acquire 21 used CRJ700s in a 50-seat configuration and lease the aircraft under a multi-year term to another regional airline operating for United Airlines. The aircraft purchases and leases are expected to be completed in Q4 2020.
Airport (noun) - A construction site which airplanes tend to frequent
 
dstblj52
Posts: 521
Joined: Tue Nov 19, 2019 8:38 pm

Re: SkyWest Reports Q3 2020 Profit

Mon Nov 02, 2020 5:36 pm

alasizon wrote:
dstblj52 wrote:
It's telling that it's being done by Skywest Airlines not Skywest leasing who normally does transactions like this leading to the obvious implication that SkyWest expects they will be flying the aircraft sooner rather than later.


I don't know that it necessarily shows that - UA originally was never willing to pay OO anything more than 50-seater rates for the 550 so OO had turned them down. I highly doubt UA has pivoted on that choice - they were willing to go from G5 to ZW or YV, neither of which scream high rates.

The wording in the release also indicates it is exclusively for leasing.
SkyWest also secured agreements to acquire 21 used CRJ700s in a 50-seat configuration and lease the aircraft under a multi-year term to another regional airline operating for United Airlines. The aircraft purchases and leases are expected to be completed in Q4 2020.

Who breaks for OO who does not want to furlough people and fears a furlough may trigger a union vote or a united who has more power then ever I bet SkyWest has given in on the 70/76 seat rate thing because they are no longer pilot limited like basically every regional was from 2017-2019
 
MIflyer12
Posts: 8475
Joined: Mon Feb 18, 2013 11:58 pm

Re: SkyWest Reports Q3 2020 Profit

Mon Nov 02, 2020 10:13 pm

DLASFlyer wrote:
Delta's pronouncement about the CRJ-200s made it sound like they are entirely gone by 2025. Does DL really want their brand associated with puddle jumping on 25+ year old uncomfortable planes without wi-fi and first class? I get the small city thing, it just seems like Delta is dead set on upgauging.


How many destinations do you want to give up, and have you thought through how that would impact mainline domestic and international networks? Not every airport pair or destination is going to support a CR9. Compare domestic destination counts of DL (or AA or UA) vs. WN and see what all mainline can mean.

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