Skywest Inc (SKYW) SEC Filing 10-Q Quarterly report for the period ending Friday, June 30, 2017

Earnings Press Release
10-Q Quarterly Report
10-Q QoQ 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 Second Quarter 2017 Profit

· Second quarter 2017 net income of $50 million, or $0.95 per diluted share

· Pre-tax income up 22% from second quarter of 2016

· Earnings up year-over-year from fleet transition progress and solid operating performance

· SkyWest Airlines pilots approve pay agreement extension through mid-2022

ST. GEORGE, Utah, July 27, 2017 — SkyWest, Inc. (NASDAQ: SKYW) (“SkyWest”) today reported financial and operating results for the second quarter of 2017, including net income of $50 million, or $0.95 per diluted share, compared to net income of $40 million, or $0.77 per diluted share for Q2 2016. The improvement in net income over Q2 2016 was primarily due to SkyWest’s continued fleet transition, including the addition of 47 new E175s, and the removal of 51 ERJ145s and 18 CRJ200s since Q2 2016. Additionally, since Q2 2016, SkyWest transitioned 49 CRJ700s from other major airline partners to American Airlines, Inc. (“American”) under a previously announced multi-year agreement, further reducing fleet risk.

Commenting on the results, Chip Childs, Chief Executive Officer of SkyWest, said “Our results reflect strong production, solid operating performance and ongoing fleet transition improvements. We will continue our disciplined strategy to pursue opportunities that will further improve our business model. None of this is possible without our outstanding professionals, and I want to thank them for the work they do each day to provide an excellent product to our customers.”

Q2 2017 Financial Highlights

Revenue was $810 million in Q2 2017, up from $801 million in Q2 2016. The increase in revenue included the net impact of adding 47 new E175 aircraft since Q2 2016, partially offset by the removal of 76 unprofitable or less profitable aircraft over the same period, including 51 ERJ145s, 18 CRJ200s and seven CRJ700s.

The following information was filed by Skywest Inc (SKYW) on Thursday, July 27, 2017 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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