SkyWest revenue up 37% but profits plummet in 1Q2011

SkyWest revenue up 37% - financial highlights for the three months ended 31-Mar-2011:

• Operating revenue: USD866.0 million, +37.0% year-on-year;
• Operating costs: USD865.7 million, +46.8%;
  • Labour: USD286.1 million, +60.3%;
  • Aircraft maintenance, materials and repairs: USD163.2 million, +52.8%;
  • Fuel: USD126.7 million, +72.4%;
• Operating profit: USD227,000, -99.5%;
• Net profit (loss): (USD11.1 million), compared with a profit of USD15.0 million in p-c-p;
• Passenger numbers: 12.6 million, +44.0%;
• Passenger load factor: 74.9%, -2.2 ppts;
• Passenger breakeven load factor: 76.6%, +2.0 ppts;
• Passenger yield: USD 13.1 cents, -8.4%;
• Revenue per ASM: USD 10.1 cents, -9.8%;
• Cost per ASM: USD 10.3 cents, -4.6%. [more]