Exhibit 99.1

 

 

NEWS RELEASE

 

CONTACT: Investor Relations Corporate Communications
  435.634.3200 435.634.3553
  Investor.relations@skywest.com corporate.communications@skywest.com

 

SkyWest, Inc. Announces Fourth Quarter and Annual 2020 Results

 

Fourth Quarter and Annual Results

 

·Q4 2020 pre-tax loss of $59 million, net loss of $46 million, or $0.93 loss per share
·Full year 2020 pre-tax loss of $7 million, net loss of $9 million, or $0.17 loss per share
·Full year 2020 revenue of $2.1 billion, down 28% from 2019 due to COVID-19
·As previously announced:
oAcquired 21 used CRJ700 aircraft and placed the aircraft under lease with a United Express operator during Q4
oTook delivery of four new E175 aircraft during Q4 under a flying contract with Delta Air Lines

 

ST. GEORGE, UTAH, February 4, 2021 -- SkyWest, Inc. (NASDAQ: SKYW) (“SkyWest”) today reported financial and operating results for Q4 2020, including a net loss of $46 million, or $0.93 loss per share, compared to net income of $73 million, or $1.43 per diluted share, for Q4 2019. SkyWest also reported a net loss of $9 million, or $0.17 loss per share, for the 2020 year, compared to net income of $340 million, or $6.62 per diluted share, for the 2019 year. The primary factor in SkyWest’s lower results in 2020 compared to 2019 was reduced flight schedules and lower demand resulting from the COVID-19 pandemic.

 

Commenting on the results, Chip Childs, Chief Executive Officer of SkyWest, said, “The past year has challenged our industry, our business, and our people beyond what anyone could have anticipated, and we responded quickly and aggressively to protect our people, our partners, and our business. I’m incredibly proud of the SkyWest team’s great work and the flexibility they continue to demonstrate. We believe we’re in a strong position to play a key role in the industry’s recovery and we remain committed to positioning SkyWest for future success.”

 


The following information was filed by Skywest Inc (SKYW) on Thursday, February 4, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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