Key Developments For Skywest Inc
Skywest Inc (SKYW.O) (Nasdaq)
SkyWest, Inc. Declares Quarterly Dividend
SkyWest, Inc. announced that its Board of Directors declared a quarterly dividend of $.04 per share to Shareholders of record at the close of business on September 30, 2009 on all shares then issued and outstanding. The dividend will be paid on October 6, 2009.
SkyWest, Inc. Announces Wind-Down of Midwest Airline Services Agreement
SkyWest, Inc. announced that it has reached a mutual understanding with Midwest Airlines to wind-down the service SkyWest Airlines, Inc., currently provides under the Airline Services Agreement between SkyWest Airlines and Midwest Airlines. As a result, SkyWest has agreed to remove its remaining 12 CRJ200 regional jet aircraft from Midwest service based on the following schedule: one aircraft will be removed in June 2009, one aircraft in July 2009, three aircraft in October 2009, two aircraft in November 2009, two aircraft in December 2009 and the last three aircraft in January 2010. Additionally, SkyWest Airlines agreed to cancel the unsecured note from Midwest of approximately $9.3 million in exchange for a $4.0 million payment from Midwest that is guaranteed by Republic Airways Holdings, Inc. The Midwest payment is scheduled to be paid to SkyWest at the rate of $400,000 per aircraft as each applicable aircraft is removed from service. Midwest has agreed to continue to pay existing rates and charges to SkyWest as agreed to under the Midwest agreement, as amended, until the aircraft are removed from service. SkyWest is aggressively pursuing other opportunities to place the remaining 12 aircraft in alternative flight service. The scheduled wind-down has been created to accommodate Midwest's commercial challenges and to mitigate any material downtime on the aircraft prior to their scheduled return to lessors beginning in May 2010 and continuing through August 2010.
SkyWest, Inc. Declares Quarterly Dividend
SkyWest, Inc. announced that the Company's Board of Directors declared a regular quarterly cash dividend of $.04 per common share for shareholders of record on June 30, 2009, and payable July 6, 2009.
SkyWest, Inc. Lowers Q1 2009 Earnings Guidance
SkyWest, Inc. announced that it expects its financial results for the first quarter of 2009, to be lower than it previously anticipated. Consolidated net income is estimated to be between $4.5 million and $7.5 million, with earnings per diluted share estimated to be between $0.08 and $0.13. According to Reuters Estimates, analysts on average are expecting the Company to report EPS of $0.34 and net profit of $20.3 million for the same period.
SkyWest, Inc. Declares Quarterly Dividend
SkyWest, Inc. announced that the Board of Directors declared a regular quarterly cash dividend of $.04 per common share for shareholders of record on March 31, 2009, and payable April 7, 2009.
