SKYWNasdaqAir Transportation, ScheduledUS GAAP · USD

SkyWest, Inc

SkyWest Inc. is a U.S.-based regional air transportation company that operates scheduled flights for major airline partners under capacity purchase and prorate agreements. Through SkyWest Airlines, SkyWest Leasing, and SkyWest Charter, it also provides aircraft leasing, airport services, and on-demand charter flying, with operations centered in the United States.

Kysy yhtiöstä
Liikevaihto4 058milj. USD
+15,0 %v/v
Liikevoitto (EBIT)618milj. USD
+24,9 %v/v
EBIT-marginaali15,2%
+1,2 %-yks.v/v
Nettotulos428milj. USD
+32,6 %v/v
Vapaa kassavirta908milj. USD
+40,3 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

01 0002 0003 0004 0005 000milj. USD2020: 2 127 milj. USD2020: EBIT 109 milj. USD20202021: 2 713 milj. USD2021: EBIT 276 milj. USD20212022: 3 005 milj. USD2022: EBIT 181 milj. USD20222023: 2 935 milj. USD2023: EBIT 104 milj. USD20232024: 3 528 milj. USD2024: EBIT 495 milj. USD20242025: 4 058 milj. USD2025: EBIT 618 milj. USD20254 058618
LiikevaihtoLiikevoitto (EBIT)
Kysy Clarifolta: SkyWest, Inc

Liiketoiminta

Osuus liikevaihdosta
Flying agreements96 %

Regional passenger flying operated for major airline partners under capacity purchase and prorate agreements.

Lease, airport services and other4 %

Aircraft and engine leasing, airport services, maintenance services, and other ancillary revenue.

SkyWest Leasing0 %

Ownership, financing, and leasing of E175 aircraft, regional jets, and engines.

SkyWest Charter0 %

On-demand charter flights operated with CRJ200 aircraft in a 30-seat configuration.

Tuotteet

Raportoitu · osuus liikevaihdosta
63,8%15,0%10,9%FY2025100 %
  • Capacity Purchase Agreements Flight Operations Revenue Non Lease Component63,8 %
  • Prorate Agreements15,0 %
  • Capacity Purchase Agreements Fixed Aircraft Lease Revenue10,9 %
  • Lease Airport Service and Other4,3 %
  • Lease Airport Services and Other4,3 %
  • Airport Customer Service and Other Revenue1,8 %

Lähde: 10-K FY2025, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.

Asiakkaat

SkyWest primarily serves major U.S. airlines that outsource regional flying to connect hub airports with smaller cities. It also serves third-party lessees of aircraft and engines, and charter customers that need on-demand regional jet service. The business depends on airline partners that value reliable lift, aircraft availability, and lower-cost regional capacity.

Major airline partners

Airlines such as United, Delta, American, and Alaska contract for regional flying capacity and schedule coverage.

Third-party aircraft lessees

Operators that lease CRJ700, CRJ900, and engine assets for fleet flexibility and capacity needs.

Charter customers

Customers using SkyWest Charter for on-demand regional jet service in a 30-seat configuration.

Airport services customers

Airline and airport counterparties purchasing counter, gate, ramp, and related support services.

Strategia

SkyWest’s strategy centers on maintaining long-term capacity purchase relationships with major airlines and matching aircraft types to partner network needs. It also uses SkyWest Leasing and SkyWest Charter to diversify aircraft utilization, monetize fleet assets, and broaden revenue sources beyond scheduled flying. Fleet financing, aircraft certification, and operational reliability are central to its competitive position in regional aviation.

Secure and renew flying agreements with major airline partnersLyhyt aikaväli

The company’s core revenue depends on contracted regional flying capacity.

Optimize fleet mix and aircraft financingKeskipitkä aikaväli

Aircraft ownership, financing, and deployment determine asset utilization and contract economics.

Build optionality through SkyWest CharterKeskipitkä aikaväli

Charter flying provides an additional commercial use for regional aircraft and crew resources.

Maantiede

SkyWest’s operations are concentrated in the United States, where it serves most major geographic markets through regional airline flying. Its aircraft are deployed on domestic routes feeding major airline hubs, while leasing activity can extend to third-party operators outside the core flying network. Geography matters because the business depends on U.S. air travel demand, domestic labor availability, and the route networks of its airline partners.

Riskit

SkyWest is exposed to contract concentration with major airline partners, labor availability, and the economics of regional aviation. Its results also depend on aircraft financing, regulatory requirements, and the performance of leased aircraft and third-party counterparties. Because the business is asset-intensive and highly operational, disruptions in schedules, staffing, or partner demand can quickly affect utilization and cash generation.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Pilot and labor shortages1Major airline partner concentration2Aircraft financing and asset value risk3Regulatory and scope limitation constraints4Third-party lease default risk5
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Pilot and labor shortagesVaikutus: KorkeaTodennäköisyys: Korkea

    Regional flying requires qualified crews to operate contracted schedules reliably.

    KohdistuuCaptainsPilotsOperational staffing
  2. Major airline partner concentrationVaikutus: KorkeaTodennäköisyys: Kohtalainen

    A large share of flying revenue comes from a small number of code-share agreements.

    KohdistuuUnitedDeltaAmericanAlaskaRelated regional flying contracts
  3. Aircraft financing and asset value riskVaikutus: KorkeaTodennäköisyys: Kohtalainen

    The business owns and finances a large fleet, so funding costs and residual values matter.

    KohdistuuE175 aircraftCRJ aircraftSpare engines
  4. Regulatory and scope limitation constraintsVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Aircraft size, crew rules, and partner labor agreements limit route and fleet flexibility.

    Kohdistuu: 76-seat scope limits and commuter carrier regulation

  5. Third-party lease default riskVaikutus: KeskitasoTodennäköisyys: Matala

    Leased aircraft and engines can generate losses if lessees fail to pay or maintain assets.

    KohdistuuCRJ700CRJ900Engine leases
Kysy Clarifolta: SkyWest, Inc

Kirjanpito

Harkinnanvaraiset erät
Revenue recognition under capacity purchase and lease contracts

Different contract types recognize revenue based on service delivery, contract terms, and billing timing.

Vaikutus: Affects quarterly comparability and deferred revenue balances

Long-lived aircraft asset valuation

Aircraft are depreciated using estimated useful lives and residual values, with impairment risk if fair values fall.

Vaikutus: Can materially change depreciation expense and impairment charges

Deferred revenue and unbilled revenue

Some contract consideration is recognized over time and may be recorded before or after billing.

Vaikutus: Can move revenue between periods without changing underlying flying activity

Income tax estimates

Tax positions and estimates require judgment and can vary with profitability and asset transactions.

Vaikutus: Affects net income and effective tax rate

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Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

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Päivitetty: 24.9.2026