EmailSkyWest (SKYW $12.25 -2.47) announced that it expects its financial
results for the quarter ended June 30, 2011, to be lower than it previously
anticipated.
Due primarily to the reasons discussed below, SkyWest currently estimates that
its financial performance will be breakeven for the quarter ended June 30, 2011.
First, the company's operating airlines have experienced additional crew costs
during the quarter ended June 30, 2011. The company currently anticipates that
the aggregate impact of the additional crew costs for the quarter ended June 30,
2011 will be approx. $14.5 million (pre-tax).
Second, SkyWest incurred merger related costs attributable to the integration of
ExpressJet's operations into Atlantic Southeast's operations, and other cost
increases, such as health care, in the aggregate amount of approx. $7.0 million.
Lastly, co estimates that it will recognize a loss attributable to the
operations of such entities in the aggregate amount of ~$3.0 million (pre-tax)
for the quarter ended June 30, 2011. In connection with these the items outlined
and as a result co's financial results for the third and fourth quarters of 2011
will be significantly lower than SkyWest management previously anticipated.
than one year.
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