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.