ST. GEORGE, Utah, Feb. 24, 2020 /PRNewswire/ --
- SkyWest to operate the aircraft under a multi-year contract with all 25 aircraft expected in service by the end of the first quarter of 2021
- The aircraft are financed by United and will be transitioned from another United Express carrier
SkyWest, Inc. (NASDAQ: SKYW) ("SkyWest") today announced an agreement with United Airlines ("United") to operate 25 E175 aircraft under a multi-year contract. These aircraft are scheduled to be placed into service ratably over a 12-month period beginning in the second quarter of 2020 through the first quarter of 2021. The aircraft are financed by United and are to be sourced from another United Express operator.
Commenting on the agreement, Chip Childs, Chief Executive Officer and President of SkyWest, said, "As their initial E175 launch partner, we are excited to become United's largest E175 operator and the largest operator of the E175 aircraft in the United States. We are pleased to continue strengthening our United partnership through this new agreement."
SkyWest, Inc. is the holding company for SkyWest Airlines and SkyWest Leasing, an aircraft leasing company. SkyWest Airlines operates a fleet of nearly 500 aircraft in scheduled service, connecting millions of passengers each month to over 250 destinations and provides commercial air service in cities throughout North America with up to 2,600 daily flights. SkyWest Airlines operates through partnerships with United Airlines, Delta Air Lines, American Airlines and Alaska Airlines to carry 40 million passengers annually. 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.
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 expected terms, timing and benefits from the new flying agreement with United, 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, 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 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; 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 and Quarterly Reports on Form 10-Q.
SOURCE SkyWest, Inc.