Utah-based regional carrier SkyWest Inc reports a slight increase in its operating profits to $56.2 million during the third quarter compared to a year earlier, on declining revenues and costs.
Operating revenues fell 1.7% to $850.7 million and operating expenses were down 1.9% to $794.6 million during the quarter. Operating income was up 2.1%.
Net profit rose more than a quarter to $26.4 million in the period.
Traffic rose 5.2% on a 5.8% increase in capacity, which resulted in a 0.5 percentage point decrease in load factor to 81.7%.
SkyWest owns ExpressJet Airlines and SkyWest Airlines, which operate contract regional services for Alaska Airlines, American Airlines, Delta Air Lines, United Airlines and US Airways.