SkyWest, Inc. (NASDAQ: SKYW) has reported financial and operating results for Q3 2017, including net income of USD 54 million, or USD 1.01 per diluted share, compared to net income of USD 41 million, or USD 0.79 per diluted share for Q3 2016, the company said.
The Q3 2016 results included early lease return costs of USD 9 million, representing a reduction of USD 0.11 in diluted earnings (previously reported). The Q3 2017 diluted earnings per share increased 28 percent from Q3 2016, or 12 percent after adjusting for the early lease charges included in the Q3 2016 results.
The improvement in net income over Q3 2016 was primarily due to SkyWest´s continued fleet transition, including the addition of 37 new E175s, and the removal of 50 ERJ145s/135s and 22 CRJ200s since Q3 2016.
SkyWest, Inc. is the holding company for two scheduled passenger airline operations and an aircraft leasing company. SkyWest´s airline companies provide commercial air service in cities throughout North America with nearly 3,000 daily flights carrying more than 50 million passengers annually. Based in St. George, Utah, SkyWest continues to set the standard for excellence across the regional industry with unmatched value for customers, shareholders and its more than 17,000 employees.