SkyWest Growing

[WillNotFly4Food]

Don't know if this was posted before, just had it forwarded to me.


ST. GEORGE, Utah, Sept. 10 /PRNewswire-FirstCall/ -- SkyWest Airlines, a
subsidiary of SkyWest, Inc. (Nasdaq: SKYW - News), announces that the
Memorandum of Understanding (MOU) signed with United Airlines on May 30,
2003, has been converted to a definitive agreement which has been approved
by the SkyWest Board of Directors, United Airlines, and the U.S. Bankruptcy
Court.

SkyWest was the first regional airline to sign a MOU for growth aircraft
with United, and SkyWest is now the first regional airline to complete a
court approved agreement.

The agreement between SkyWest and United is a long-term, 11-year contract,
which includes multi-year fixed rate adjustments for SkyWest's United
Express contract flying. The agreement is similar in nature to the previous
agreement and provides for a base margin and performance based incentives.

The agreement calls for SkyWest to more than double its regional jet fleet
over the next five years, which SkyWest management believes will represent
the largest growth opportunity afforded any regional airline currently doing
business with United. Under the terms of the definitive agreement, SkyWest
has agreed to operate a fleet of 140 aircraft, including 55 turbo-prop
aircraft, currently serving the United Express fleet, 50, 50-seat regional
jet aircraft which are scheduled to be in service by the end of 2003, and
30, 70-seat regional jets that are scheduled to be serving United Express
routes by summer 2005. Delivery of the new 70-seat jets is slated to begin
in January of 2004. Additionally, the agreement includes a significant
number of options, which are expected to be a mix of 50 and 70-seat regional
jets and will be determined by United at a later date.

"The agreement represents the culmination of many cooperative efforts
between SkyWest and United since United entered bankruptcy protection in
December 2002," said Bradford R. Rich, Executive Vice President, Chief
Financial Officer and Treasurer of SkyWest. "In addition, we believe this
agreement is unprecedented in our industry and offers us significant
long-term growth opportunities that will greatly benefit SkyWest and our
shareholders. We also believe the agreement will greatly benefit United as
we are offering them a high quality, economic product designed to help them
achieve their financial objectives."

Currently SkyWest operates more than 670 daily flights to 63 cities as
United Express out of hubs in Denver, Los Angeles, Portland, San Francisco,
and Seattle. The contract will provide SkyWest with new opportunities in
United's Chicago hub as well as expanded service in the Denver market.

SkyWest Airlines is the nation's largest independently operated regional
carrier and carried 8.23 million passengers last year. The US Department of
Transportation has recognized SkyWest as the number one on-time airline in
the United States five out of the last six months. SkyWest operates as
United Express, Continental Connection and Delta Connection carriers under
marketing agreements with United Airlines, Continental Airlines and Delta
Air Lines, respectively. SkyWest serves a total of 103 cities in 28 states
and two Canadian provinces and has more than 1,100 daily departures. This
press release and information on SkyWest can be accessed at www.skywest.com

 

[blee256]

I have also heard they have stopped hiring qualified candidates "off the streets" and plan on hiring the american eagle furloughees. Can anyone confirm this?

-brian

 

[ScorpionStinger]

You'd think they would hire United Airlines Furlough's Instead.

I wonder if United Offerd that as part of the Contract. Especially since it's a long term contract..

 

[little_cricket]

They are hiring a few people off the street, if you can get recommendation from current pilot or two, it may still be possible to get an interview. But, mostly they are finishing off the pool of hired, those with interviews previously cancelled, and coex furloughs. Most of the future classes will be made up of UAL furloughs (100-200) from the new jets4jobs deal. I don't think (personel option) that you will see hiring from the internet application alone for a year or so. Good luck.

PS There is no hiring deal with American or Eagle furloughs.

 

[Athena]

Eeeexcellent. My crystal ball on the future of aviation is going right according to plan.