Skywest Inc (SKYW) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2020

Earnings Press Release
10-K Annual Report
10-K YoY Changes
Skywest Inc
Ticker: SKYW CIK: 793733

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:

	o	Acquired 21 used CRJ700 aircraft and placed the aircraft under lease with a United Express operator during Q4
	o	Took 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.

View differences made from one year to another to evaluate Skywest Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ) — *Sample 10-K Year-over-Year (YoY) Comparison*

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were ~~removed~~ , added and changed by Skywest Inc.

Continue

Please wait while we load the requested 10-K report or click the link below:

https://last10k.com/sec-filings/report/793733/000155837021001367/skyw-20201231x10k.htm