SkyWest reports Q2 2016 net income of USD40m

SkyWest, Inc. (NASDAQ: SKYW) has reported second quarter 2016 net income of USD40 million, up from net income of USD31 million in the second quarter 2015, the company said.

The company reported pre-tax income of USD66 million in the second quarter 2016, compared to USD53 million in the second quarter 2015.

Operating income was USD84 million for the second quarter of 2016, compared to USD70 million in Q2 2015.

Revenue was USD801 million in second quarter 2016, up USD13 million from Q2 2015. The increase in revenue included the net impact of adding 18 new E175 aircraft since Q2 2015 and economic
improvements in certain existing flying arrangements, partially offset by the removal of 46 CRJ200 and ERJ145 aircraft from unprofitable or less-profitable flying agreements over the same period.

Operating expenses were USD717 million in Q2 2016, down by USD1.0 million from Q2 2015.

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 more than 3,300 daily flights carrying nearly 57 million passengers annually.