SkyWest, Inc. Announces First Quarter 2016 Profit

Pretax income for the first quarter of 2016 was $45 million compared to $16 million in Q1 2015. Operating income was $62 million, or 8.1% in operating margin, for the first quarter of 2016, compared to $34 million, or 4.5% in operating margin, in Q1 2015. The improvement in operating margin was primarily due to new aircraft added to profitable flying contracts, economic improvements from fleet transition and certain existing flying contracts, additional financial incentives earned through improved operating performance and a reduction in the number of aircraft operating under unprofitable or less-profitable flying contracts.

Commenting on the results, Chip Childs, SkyWest, Inc. Chief Executive Officer, said "The quarter's strong results reflect the value SkyWest has been able to generate for our partners through solid, reliable operating performance. The demand for our service and aircraft is strong and we remain focused on continuing to drive incremental improvement in fleet economics to create long-term value for our stakeholders. The quarter's performance is a huge credit to our 20,000 professionals who deliver a quality product to our passengers and major airline partners."

Refer to full documentation in attachments box, located at the top left, below the headline.