ST. GEORGE -- Regional airline operator SkyWest Inc. posted a $11.1 million loss on Wednesday as bad weather caused a "significant loss" of flying time.
Other contributing factors included higher crew training and inspection costs.
The loss was 21 cents per share.
A year earlier it had earned $15 million, or 26 cents per share. Revenue rose 37 percent to $866 million, from $632.2 million a year earlier because SkyWest bought ExpressJet Holdings in November, which added revenue of $211 million.
Analysts surveyed by FactSet expected a loss of 25 cents per share on revenue of $868.2 million.
SkyWest flies under contract for other airlines, including Delta Air Lines Inc. and United Continental Holdings Inc.
Many of its fuel and engine overhaul expenses are reimbursed by SkyWest's airline customers.
Even so, its expenses rose $14.1 million, or 2.8 percent, during the quarter because of required in-depth inspections of aircraft, which ended up costing more than SkyWest expected.
It also had higher training costs for flight crews.
Fuel costs rose $6.1 million for the portion of its fuel bill that is not reimbursed by airline customers.
SkyWest shares rose 13 cents to $16.89 in morning trading.
Comments