Company Announcements

SkyWest, Inc. Announces First Quarter 2020 Results Call Date and Other Matters

ST. GEORGE, Utah, April 13, 2020 /PRNewswire/ -- SkyWest, Inc. (NASDAQ: SKYW) ("SkyWest") today announced that it will host a conference call after the market closes on Thursday, May 7, 2020 to discuss first quarter 2020 results. The format will include an overview of the quarterly results followed by a Q&A session. Details for the call can be found below.

SkyWest today also indicated that its April scheduled block-hour production is expected to be down approximately 50% from plan with completed flights well off historic norms relative to schedule as a result of the demand disruption in the airline industry related to the COVID-19 outbreak and related travel restrictions. May is expected to be down slightly more than April.

SkyWest also confirmed today that it applied on April 3, 2020 for payroll support grants under the Coronavirus Aid, Relief and Economic Security (CARES) Act. SkyWest has suspended future dividends and share repurchase activity until further notice.

Thursday, May 7, 2020
2:30 p.m. Mountain Time

The call-in number for US callers is 1-877-418-5293
The call-in number for international callers is 1-412-717-9593
The call-in number for Canada callers is 1-866-605-3852

Please call ten minutes before the scheduled hour to ensure a prompt starting time. If you have any questions, please contact Investor Relations at 435-634-3200.

Interested parties can also access the call live via PR Newswire Webcast at:

https://www.webcaster4.com/Webcast/Page/1088/34193

In addition, a digital rebroadcast of the conference call will be available after 4:30 p.m., MT on May 7, 2020 through May 21, 2020 at 11:59 p.m. MT. US callers can access the rebroadcast by dialing 1-877-344-7529; international callers can access the rebroadcast by dialing 1-412-317-0088. The conference ID for the rebroadcast is 10142468. Your participation is welcomed and appreciated.

About SkyWest

SkyWest, Inc. is the holding company for SkyWest Airlines and SkyWest Leasing, an aircraft leasing company. SkyWest Airlines has a fleet of nearly 500 aircraft connecting passengers to over 250 destinations throughout North America. SkyWest Airlines operates through partnerships with United Airlines, Delta Air Lines, American Airlines and Alaska Airlines carrying more than 43 million passengers in 2019. Based in St. George, Utah, SkyWest continues to set the standard for excellence across the regional industry with exceptional value for customers, shareholders and its more than 14,000 employees.

Forward Looking-Statements

In addition to historical information, this release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "forecasts," "expects," "intends," "believes," "anticipates," "estimates," "should," "likely" and similar expressions identify forward-looking statements. Such statements include, but are not limited to, statements about the impact of the COVID-19 outbreak on SkyWest's business, financial condition and results of operations, continued demand for our product, as well as SkyWest's future financial and operating results, plans, objectives, expectations, estimates, intentions and outlook, and other statements that are not historical facts. All forward-looking statements included in this release are made as of the date hereof and are based on information available to SkyWest as of such date. SkyWest assumes no obligation to update any forward-looking statements for any reason. Readers should note that many factors could affect the future operating and financial results of SkyWest and could cause actual results to vary materially from those expressed in forward-looking statements set forth in this release. These factors include, but are not limited to, uncertainties regarding the consequences of the COVID-19 outbreak to economic conditions, the travel industry and our major partners in general and the financial condition and operating results of SkyWest in particular, the prospects of entering into agreements with existing or other carriers to fly new aircraft, ongoing negotiations between SkyWest and its major partners regarding their contractual obligations, uncertainties regarding operation of new aircraft, the ability to attract and retain qualified pilots, the impact of regulatory issues such as pilot rest rules and qualification requirements, and the ability to obtain aircraft financing.

Actual operational and financial results of SkyWest will likely also vary, and may vary materially, from those anticipated, estimated, projected or expected for a number of other reasons, including, in addition to those identified above: the existing global COVID-19 pandemic and the outbreak of any other disease or similar public health threat that affects travel demand or travel behavior; the challenges of competing successfully in a highly competitive and rapidly changing industry; developments associated with fluctuations in the economy and the demand for air travel, including related to the duration and impact of the COVID-19 pandemic, and related decreases in customer demand and spending; the financial stability of SkyWest's major partners and any potential impact of their financial condition on the operations of SkyWest; fluctuations in flight schedules, which are determined by the major partners for whom SkyWest conducts flight operations; variations in market and economic conditions; significant aircraft lease and debt commitments; residual aircraft values and related impairment charges; labor relations and costs; the impact of global instability; rapidly fluctuating fuel costs, and potential fuel shortages; the impact of weather-related or other natural disasters on air travel and airline costs; aircraft deliveries; the ability to attract and retain qualified pilots and other unanticipated factors. Risk factors, cautionary statements and other conditions which could cause SkyWest's actual results to differ materially from management's current expectations are contained in SkyWest's filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.

 

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SOURCE SkyWest, Inc.