SkyWest narrows Q1 operating profit

Washington DC
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US regional carrier SkyWest Inc narrowed its first quarter operating profit to $15.6 million as operating revenues fell for the three months ended 31 March.

Revenues declined 12.8% year-on-year to $804 million in the quarter, says the carrier. This was due primarily to a $128 million reduction in reimbursed fuel and engine overhaul expenses from SkyWest's partners.

The airline also lost $4.5 million in the quarter because of a series of severe storms that forced 1,900 cancelled flights.

SkyWest's expenses fell 12.5% year-on-year to $788 million in the quarter. The carrier posted a net profit of $3.23 million, reversing from a net loss of $682,000 in the same period a year ago.

The carrier closed the quarter with 752 aircraft, up from 727 aircraft.