SkyWest operating profit almost doubles in 1Q2016

SkyWest revenue stable - financial highlights for three months ended 31-Mar-2016:

• Total operating revenue: USD762.1 million, +0.2% year-on-year;
• Total operating costs: USD700.3 million, -3.6%;
• • Labour: USD305.6 million, +0.9%;
  • Aircraft maintenance, materials and repairs: USD138.9 million, -12.3%;
• Operating profit: USD61.8 million, +81.4%;
• Net profit: USD27.1 million, +182%;
• Passenger numbers: 12.7 million, -4.0%;
• Passenger load factor: 79.0%, +1.2 ppt;
• Yield: USD 11.1 cents, +3.7%;
• Revenue per ASM: USD 9.0 cents, +3.4%;
• Cost per ASM: USD 8.4 cents, -2.3%;
• Average passenger trip length: 531 miles, +0.6%;
• Total assets: USD4813 million;
• Cash, restricted cash and marketable securities: USD442.3 million;
• Total liabilities: USD3277 million). [more - original PR]

SkyWest: "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," Chip Childs, CEO. Source: Company statement, 28-Apr-2016.