SKYW - Earnings call transcript Q1 2024

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Operator

Good afternoon. My name is Brianna and I will be your conference operator today. At this time, I would like to welcome everyone to the SkyWest Inc.

First Quarter 2024 Results Call. [Operator Instructions]I would now like to turn the conference over to Rob Simmons, Chief Financial Officer. ahead. go Please

Robert Simmons

thanks, today. and joining on us Thanks, everyone, call the Brianna, for

As SkyWest's Rob is she this indicated, Simmons, Chief Officer. Financial

Chip Executive call Officer.I'd Accounting the today President Commercial time with today and Officer; the Chief Officer; are Chief Wade to to Woodward, like asking to the will On safe turn Eric for Steel, harbor. Eric comments. Chip I me by some and Chief Childs, read start over Then

results. Then take and will Chip, financial the through Following will us fleet Wade the related I discuss arrangements. flying

have Wade, we customary Following our with sell-side Eric? will the Q&A session analysts.

Eric Woodward

Today's any those number future our will events represent statement, vary result a forward-looking discussion no information, and current regarding subject may materially are and from assume to whether or of risks for events, reasons. results as estimated, assumptions statements Actual contains new or and otherwise. forward-looking of likely uncertainties. update a beliefs, future and projected to that vary anticipated, We expectations, obligation

Some with of XX-K and to the may reports over are differences Exchange other and XXXX such filings in call cause our Securities now, included I'll Form and Chip. Commission.And turn the the factors that

Russell A. Childs

of the improvements reflection compared quarter recent increase for availability. to quarter X% with Eric. on Rob million SkyWest Good Thank you, hour our joining per everyone. what diluted on is production team us $X.XX or last and captain Thank same net income for first the of the quarter year XXXX.Our can block you Today today. in $XX the call afternoon, reported the of share achieve for

our was In our are America's with aircraft optimistic to flexibility fleet, quarter, partnerships and workplaces in the SkyWest and by was block partners.We're of the reflecting and diversity was our of the addition improved.I'm staffing and for last our remain Finance list. value of has begin of year ERJ-XXX we at we the increasing month, well-positioned production America's provides in ahead the partnerships one outlook year. our pleased improvements measurable to continue XX our the hour regional also the to We to enhancing proud about very fleet on regional Overall, market for strong XX% these the and our slightly during class share. from greatest XXXX. United dual new the that Newsweek quarter.As for be our of aircraft, our named either first will this greatest workplaces end only receiving women airline company recognized share XX SkyWest received announced very in aircraft demand, X

but continue the a model product, in SkyWest winter same our work XX also adjusted are years and this quarter, and continued unique also help to weather captain We I to our to us continue attrition product.During this through each the season. nearly benefits that forward.During work our last completion the a the proud even and operated together our than challenging day delivering collaborative consistent, industry our our only continue our up improve. for fundamental who improved flights people people people usual XX.XX% to of will lead with the to and the reliable, the regional and our more of team part industry.We XX,XXX attracting than enables not quarter, unique showed later quarter thank believe year want to exceptional that approach been first success best it's over

minority our Pathway And the disciplined first growth plans major was to same about what through half we this being continue and fleet staffing monetize continued Program. our balance time in to unexpected for is and assets in Contour, XXXX, working quarter as to improvement good existing fully gears, with CRJ remained ago. The of will crew operator, while pilot a it planned it first our deliveries. and see pipeline attrition for establish small is that captain we understand balance year to in And restore another strategies.We We production.Shifting quarter's progress our some expect to stake the in some officer be a our due XXX supply. our availability pause

SWC evaluate to continued flying. accretively capital.SkyWest smartly charter We and to our continue to complete has on-demand opportunities deploy successfully Charter or

and service Department commuter authority demand believe Transportation the at commuter to DOT, Act for continue very are of with flying and on status future. possible through pleased small small business is overall answer remaining its will of community about and on is our primary our contract said, application of federal a relationships. and strong are remain our SWC the the for We optimistic for have application of pending That best authority we our the air our requested portion court.Regardless SWC's partner with focus it major product

several partners. four positioning. us our the have people. solid Two, fleet the in will ensure best work ensure us the our of data. best well future.Rob from strong we elements successful disciplined our take pilot extremely remain deployed summary, core the with our are to fleet possible in will our spent to effectively are most positioned of improving pleased we the we and our benefits These profitably.In following fleet situation to our we years and are investing through in for demands.Looking the business demand make that to the now in business heavily us importantly, we industry and see strategies. beginning to capital is always, to the ability the financial in availability. last our future. Three, long-term forward, believe respond One, As and We ongoing people market continue to And

Robert Simmons

$X.XX GAAP reported we QX million. earnings net of Today or income per income a share. $XX $XX pretax first million was quarter

count rate share average was million XX.X and XX.X%. effective weighted was our QX Our for tax

up million revenue XXXX. fluctuations from million up from XXXX both and $X and this our revenue charter and $XXX airport deferred XXXX X% quarter down by other up $XXX QX service is million down compared with under QX QX sequentially seasonality QX in charter sequentially previously from down up volume breaks and to First, QX GAAP XXXX.Prorate QX $X contract revenue in higher and of due QX, revenue million $XXX QX million from revenue by XXXX. let's demand million was reflecting QX from million revenue from in effect $XX and new Total and deferred QX to in contracts.These was million prorate the operations.Leasing $XXX in revenue. XX% XX% up QX of $X XX% recognizing customer X% XX% talk results up about of from include and year-over-year,

As million of recognized deferred revenue of QX, that we the of end be future have periods. will in $XXX cumulative

previously flow million, from to expect in the full me of last The repaying during share.During the and SkyWest of debt down $XX.XX deferred $XX shares move revenue million of from free accretive we quarter also we million. cash with per year-end for repurchased cash free XXXX.Let shares plus quarter. million indicated, investment cash roughly included $XXX in ended down quarter. buying the average $XX of the $XX at to million share.Our price for of million we benefits XXX,XXX of in $XXX the the have balance million to of per the the debt XXXX. $XX.XX quarter QX year QX first quarter during million prior These XXXX, stock an XXXX cash-related billion price approximately at the XX.X But previously important back over lower As tell from outstanding $X $XXX QX of an CapEx continue ended generate a $XXX actions was million with an of sheet. production XX% recognize despite $XX We CapEx numbers from in million $X.X decrease in or flow $X shares in company billion, positive years. We average of constraints.Our than strong story as about operations cash

specific generated from and Wade to X% XXXX. block quarter of you a to hours captains up will allow execute last balance From XXXX, to color, our more anticipate X% X% over to primarily future be policy ago. million expect on we let of value. in net create a on will me from minute, XXXX that continuing practice, But our continue liquidity that help not are XXXX, the time. be the QX.As expected and ease program.Consistent us This versus even improvement share XXXX fact our guidance QX's debt this opportunities Our by tools expectations profitable we Tools with continue driven in over us sheet each discuss shareholder to to now repay growth expectation in giving now expect little $XXX new higher take advantage color we solid a to attrition quarter's our give to is EPS and month and be any we up repurchase we production. at X% quarter up ago to pilot a in powerful

operations we hours a cash catalyst better and anticipate sheet, income block demand where solid partners.We production XXXX in year following. stronger our improving improving Our for XX% rate our our reflecting expectation And last our fleet from EPS our now expectation provide were the including expect growth a tax strong for production $X availability, GAAP than quarter's and reliable invested the ongoing in area, for XX%. between strong on XXXX we the high demand by outlook.Our pre-COVID, will utilization, for above balance capital, product for pilot is in increasing from our driven and and be to return our flow range XXXX

and XXXX. had million million shares As as a during shares outstanding QX XX.X XXXX XX, we March of result repurchasing of of XXXX, XX.X

opportunistic As over at authorization. $XX although continuing We capital million our significantly deployment debt. in repaying repurchase of included remaining slower our in a million cadence forward, anticipate share March repurchasing had likely than current shares XXXX.Over to of we under XXXX, be balanced XX, $XXX going

repay on track in are similar to XXXX number. a We

be continue of decade.The point over Our their by fully CapEx future are in X fleet today, to lower in these utilized in in million, important of Wade a block leverage growth be also cash and possible a of EXXXs debt $XXX deliveries The than we ratios to at including underutilized close place million both metrics this represents XXXX, of of around approximately that minute.We end XXXX color XXXX. total pre-pandemic and hours By could continue fleet will will more $XXX anticipate new could ERJ of the levels the give meaningful end plus XXXX. to XXXX optimistic year. be our to the CRJ purchase our the net remaining lowest economics. in be the

the taking to in underserved engines another and that CRJXXX sheet investment Contour deploy fleet to incremental shareholder XX% our strong aircraft and prepare monetize announced monetizing returns. our quarter to preserve been opportunities shortage and communities.We Wade? in total time over captain that for drive way Our balance utilization optionality work to represents us and demand important of last the the will our actions believe we've excess through of to channel well strong our position

Wade Steel

you, Thank Rob.

XX had a order, March X replace transitioned for EXXXs XX are these aircraft. These United During United addition the XX on United-owned XX Alaska. we from flying for CRJXXXs XX, currently EXXXs and carrier. to SkyWest announced X X are be United, to quarter, that during in These under for XX EXXX XXXX.As Delta, to coming of the XX of another our for transitioned we all Express We agreement new anticipate will aircrafts contract.

large more solidify end the total SkyWest X delivery and expect the Embraer has XXXX, fleet X in from share market At to XXX, EXXX XXXX, XXXX. XX% aircraft continuing our largest be in X dual-class of We fleet, the XX% increased addition of as to in XXXX, the to the of dual-class will aircraft in our our world.With in the regional operator of XXXX. large

is our to year to on will receive our for anticipate months.With CRJXXX paid. this be each the We us contract flying from transition aircraft. EXXXs of and first CRJXXXs replacement American share finance CRJXXXs. these they shift CRJXXXs newest place the of in value as partners for asset one become single for We CRJXXXs our which flying our class during the we XX and our a fully the to excited the CRJXXX review the working some CRJXXX be These to The of will new to on time about major worldwide.Let me these expires XX actively our fleet. contracts XX contract our their an models simultaneously. market ideal are valuable United, agreements, under next-gen fleet, expiring focus We're aircrafts conclude, improvement.Let CRJXXXs By dual-class debt a represent production. recognizing summer partners the

since X% block due fourth first on first XXXX XXXX. fourth approximately our have captain by reduction compared our regard seen before will hours remind will primarily quarter.With X% compared that any were our weather to adding block schedules down I block that by partners to hours XXXX. quarter to The to quarter completed hours our XXXX. the block This in of of staffing, scheduled for aircraft. add hours have our first fleet approximately more anticipate completion more quarter block also increase X% that is anticipate of trends and improving less to the second increase hours cancellations you for the the we XX% X% than compared would can we ERJ to attrition we quarter QX, had to than current major Based we quarter the

including full makes This additional is block by to our CRJ new number over for We expect near XX% be EXXX on financed United and the fleet our same hour aircraft to model. fleet, the utilization year-end. accretive each

remain debt. first with in at them very engaged partners over is partners and cycles aircrafts. to Our have assets approximately And value fly XXX aircrafts Airlines supporting contract book engine our production.I we our still little to very in under our these monetize.Our have also plans monetize monetize We to to X CRJXXX to million want assets. own restore our no remaining or business. CRJXXX review efforts These prorate to SkyWest priority our

also in have asset currently operating announced engines XX% will Contour. quarter, commuter an DOT we aircraft the SWC, we ownership Contour. at Charter to a provisioning is under to which priority application.Last that CRJ acquired on-demand for our flying or We includes charters next we these airframes while at SWC. stake SkyWest arrangement This XX agreement, aircraft SkyWest Our to provide wait also approve and operate

to X and sold leased we quarter, XX airframes the During engines Contour.

leasing We see these assets. continue demand very to good selling for and

of million For XXXX sold QX the we SWC. and update over brief example, of about give during XXXX.Let me $XX CRJ of assets a status

And And in contributed charter SWC extremely to business, over This the seasonal. anticipated. in positively progress. And at we than SWC's QX earnings. business assets were originally with $XX higher bookings summer.As ways our prorate spring the looking are the significantly We revenue pleased demand the are this during did as is these deploy very and We sports quarter. winter remains strong. to for we creative million far

the Just support. we industry, like rest of seeing are and strong very yields the great community

continued on We to each our We work service. will best continue provide to to with our enhance the and communities to continue reduce way major the good about for continuing flexibility partners work and financing of committed ongoing to remain serve the and our demand with creative fleet feel we efforts solutions products. exceptional our to risk our

Robert Simmons

we're Briana, Okay. Q&A for ready now. our

Operator

first James. Your [Operator with Instructions] Savi question comes Raymond from Syth

Savanthi Syth

well kind curious some captain get guessing those on on there full to the question to level demand are that kind a to utilization. are color of side the on appreciate pilot, was CRJ as for factor -- and pilot governor, XXXs. some I I supply? governing the utilization I kind of of now I'm the of utilization. pilot because going that was XXXs, of fleet. of seeing CRJXXX the be that you're is increasing the the what's of the as to curious Or cost Is on and what kind the the

Wade Steel

Savi, Yes, is Wade. this

captain back as continuing talked full have utilization continue get the we're that primarily improve. as is attrition utilization constraint is work to seeing still CRJXXXs. up to the utilization about yes, to that in we script, are So CRJ we every the But through that based pilot the issue The you the that, to that that is we continuing at increasing.Like is And fleet day said, to increasing. SkyWest. of is

very And a utilization We nice will CRJXXX imbalance over the CRJXXXs, be captain of We have it there still mix. to large to fleet the XXX fleet. improvement a those. continue yes, get to our going right. see as operate But continues XX we're and

Russell A. Childs

is as well. this Chip Savi,

see We is continue demand question demand. part for those I products. to do other your X all of think the also of strong

that is that strong. getting a matter exceptionally to perspective. to continuing a not X The attrition this it's of measuring those demand something in And just we're capture from is conservative like Wade So for improve the said, the future. demand

Savanthi Syth

to contract And if that other I look any this as contract. we CRJXXXs are next kind that Are should just might, of be commentary mindful? coming the or on off coming year XX are that we off there others year

Wade Steel

off the coming The only some. are that are are XX XXXX. CRJXXXs There in ones

major year and partners. extensions renewals them that. with in every of we're and dialogue all like constant expirations and things contract And all with replacements our of about have fleet We always kinds

additional. in There's in there's of But extend years. -- So opportunities plenty the to future there's the renew no nothing significant or and unusual there's contracts those future.

Operator

Becker comes Helane Your TD question from next Cowen. with

Helane Becker

and a retirements normally I the tell change through tell and scheduled think this long? release, the You a coming in you fleet like 'XX how press mentioned is us Could coming from see it. -- that service. too some 'XX, or -- aircraft maybe of aircraft didn't out XXXX about couple us you you to include Can in net XXXX the are few

Wade Steel

Yes.

fleet. we a the end bit have So fleet color we're you around our of on we Helane, going give fleet. in as of our our EXXXs little of XXX have XXX forward. I'll EXXXs will Today, XXXX, By in

that is XX coming far fleet, us then The on our well in that owned some still So are and anticipate talked of have orders a has fleet. fleet, on will United we grow as out XXX be CRJ said, demand We growth the have it that legs And there ahead the we that XX lot in still are will very it. some so of XXXX. we in slightly. overall 'XX, the as 'XX.And high Chip coming still 'XX, as as and about

to the we continue fleet. ERJ are to CRJ fleet And operate going so, and the

And of demand for major both so with all of great those our partners. there's types aircraft

Helane Becker

know I helpful. think ERJs? aircraft? Are the those just the do on That's through they you then CRJs different types, apologize pilots I on should moving them? Or this And about that fleet pilots dedicated Okay. do How and really cross-train I X you don't. and

Russell A. Childs

pilots ERJ is pilots train an based is X of So keep availability, they're the essentially Helane, the keep over years the to And that we'll interesting for training to those. utilization, for.And have these up the do the based which another. or fleet bring separate interest perspective, bit captain we've X why each more we cross over there's are those a them. our on extremely But question. of We utilization That's paid one from higher is the X Chip. accretive, aircrafts. pilot so of We want on had that assets to fly focused back upon that we've pandemic. product past We since a now one majority fleets. this start the excellent And both ironically, fantastic upon bit much separate domicile.And very for not but

fill fleet Sometimes they to what both And through one to will types. that. from transition -- be for it we up able big coming but event. optimistic requires the we're to very pipeline But they about have a the we're to demand training able through sometimes fly from another, manage

Helane Becker

when classes classes excess going large pilot you so get pilots? those to who keep kind for sneak quite that. keep or could You've you said pilot guys their just about pilots. didn't question training. you you because going back are I excess have I seen thinner, Because back don't I the the on talked Or Because -- about going issues, in more Are new don't airlines the cut if training comment of of just of pilots forward. pilot And the get track? pilot and know right? on -- hiring, run to the made the run one major on

Russell A. Childs

ways I long would last from the a say, like very we're particularly given pilots, we mentioned quarter, excess away demand.

what Last demand, quarter we a quarter gave top pilots that. were pilots of we pre-pandemic. need last that think given X,XXX couple I X,XXX And of numbers. another we short were we on of

just probably look, up -- we're probably We're with attrition. quarter that pilots So very with ironically, have are short.So close to we to X,XXX later. busy been programs our training attrition keeping going even and a

at is.But priority right big about can We and way. utilization busy is perspective to not disciplined I #X we we're and how the in do way that you're do to get the Our the back back. good to demand we're what grow largely be we're class it. we people care back back the are process, mostly up. the as about we back not that's we're is comfortable fulfilling take full-bore numbers can the we're in have this we least sure of our with getting excited, take component right beyond.But and where And of equally be are sizes can training honestly, only the programs the be to going that where going time make to to trying going say it full a getting keep safety. to and as And very Helane, have opportunity to think discipline the from We were to train not overworking strategy long our people what also we

fill demand think of lot I got pilots. can we with a we've still

Operator

Mike question next Your Bank. Deutsche Linenberg from with comes

Michael Linenberg

of I are, respect what X or point they out starting take we the as to that paid over we paid meaningful to maybe a point where where years are did With part years, or are small now talk there a at be a paid XXX you today? airplanes aircraft we're fully fleet and we they're think -- your if out you are move Like costs? can Can as about And off.Where ownership at a get And long-term has because none I'm was off next period where at today you go over debt. you about we maybe XXXX, to fully sure, guess, if fully they have of a years XX got or XXXX these them the off. ERJXXXs, to size next be the see a lot plus start, We by think few just are if to we that that about out we where little XXXX. decent you airplanes. where of to got

Wade Steel

Yes, is Mike, this Wade.

So the shot if at I'll Rob chime take can in would he first as then and like well. this

XXXX. So that delivery most said, fully our amortizing -- aircraft first as was in XXXs note. took in And we the all with XX-year almost of you under of of a those are all are those

And period will -- paid lot we of so starts our in a a couple to of We for period, time aircraft off first small in United there's a year aircraft it right? that in be And delivery in of took XXXX. of period. took very XX --

a operate long first airplanes those and a XX those forward to in for and asset feel still We to be operating, we good out continue And so. fly very with to paid that so will partners and our be those 'XX time. it's off will 'XX.And very look working there we still

Robert Simmons

this that Yes. improve cash I reads The those those. of they would for into characteristics add, Mike, characteristics is the flow of our planes cash become the flow way results through on fully paid only thing the is that as sort

XXXX, we in again, so, starting set how things are up. like And

Michael Linenberg

could this as of story really start that pick starting 'XX, is of many Yes. airplanes we're an took earnings a to to you now up for us, And cash could and/or element it well, I the to there's getting on. flow I just early we how like the because decade feel be to and some guess, pretty promise land ago leverage significant. model saw

big EAS with on reason too that economics seen to thinking they seaters, maybe haven't is bigger evolved question, And Are once what something as or and curious, of changed. really bid excited.But EAS? it start XXX they're I'm asking are or to which starting know the I'm program were as some see is the your what I'm So XXX -- second on has And airlines prorate are we're airplanes, aloud economics before. I just getting -- is here. better? like I Maybe the XXX percent my just for markets, just the I'm seaters, good markets, interesting the

maybe And going better I get just about on want others I'm to what's mean economics that the so so there. curious much are involved.

Wade Steel

is Wade. I'll this briefly about Mike, talk just Yes, that.

for system, flying, them far the prorate hooking like flying percentage service the XX% programs, there? right? they've or they're to them a striving our So economics, that consistent SkyWest probably well service a of this prorate about time.We Airlines over are really Is great And for the is very the XX% these in as are where DOT in right? get to get with time. hubs air this.As has communities, value is flying these essential with prorate feel that's very And the the goal and the to of for adding doing we national of we air is to communities to think The bring to essential been I suited long connecting been what connectivity. I think transportation

position connect transportation to small system. greater I good. both are SkyWest they're But communities the to and So Charter SkyWest think

Russell A. Childs

XXX fill value would done XX I that this operation, and bit little found seats. to on that at X the talk look you well cities subsidies There's filling service as who's Chip. air in starting it some of involved. forward outside to they're well has of Mike, a state ought works essential as seats a tremendous add. been air There's and and service. lot be cities.But today.There's like service why subsidies in a lot local that But airplanes that work obviously is seats. in and there's, SWC when seats evaluate I and air with a this this it, perspective, Yes, essential for these well. for also lot were that And all that though very get cities, interested see that's XX-seat is that analysis an It looked our seems when of as demand we we out EAS, we that we years applying of are about cities able we mean, we and from subsidy if flying at airplane air confusing a very lot a maybe have this. to even are essential cities studies service XX getting ago, we we've moving honesty, that look for essential of XX for of charter

little So more perspective. that's bit a

Operator

comes with ISI. next from Your Evercore question Duane Pfennigwerth

Duane Pfennigwerth

that any trending maintenance on expense versus expectations? are you remind touch you timing how us; there How differences reimbursed is generally? between and you're trends? incur Can maintenance for just maybe expenses your And

Wade Steel

Yes. Wade. this Duane, is

maintenance for our expense couple the vast under has that's a call maintenance what with predictable.And of #X would a very hour fairly that's predictable we revenue the -- well. And our in utilization And that major with on that's you biggest majority engines very and our is that's that's our agreement. world consistent reasons. by models our reason have the is and that have. So as based power so we of been become partners

has C enough line with as then biggest checks. almost models rid historically quite item maintenance And have so, there's engines. right while or think obviously But hope And predictable.We and become now, with MROs to models had over next hour. for all the and times. investments turnaround our that. years. the have would continue a in benefits that starting mismatch world we of our very airframes the is to And their very is are predictable we're large we've made and in the ago.And powered from staffing that question everything of we're that's some our engines their a far deal see improve or could the world now X doing it's improve And heavy by your checks been lot to maintenance us good. I on of X And like we as past We got and capacity

Duane Pfennigwerth

talk just that the release, And And can million in -- kind number? the quarter revenue, quarter? is revenue you clear. the it that very there net period? the That's that about deferred on June for So of expectation then previously March is your is that offsetting the in $X deferred revenue deferred you recognized of just recognition in in a

Robert Simmons

had March out.But had again, we we should we we said And was And the a bit had Sure. the than I be just to few today, of because $X we that quarter of deferred revenue and year QX is reversed the have recognize production over have deferred. revenue script, revenue a to as for about that end contracts. we going million $XX full last $XXX a sort been yet few on indicated million had of for the million $X lower we that Duane. Yes, that sort of been That years that changes and previously as some of recognized. to deferred previously million of of just my about was little think pushes come. up the

Operator

follow-up Your from next question comes as Raymond a James. Savi with Syth

Savanthi Syth

end so are low thinking. little question. to 'XX, you comes? on bit year 'XX, go still as And in curious Question does thoughts the reversal on, this kind for up were that in of up, and the comes Duane's of Rob, kind this a of actually earnings that kind I on go just revenue how was impressive is the what recognition that what is for of seem itself. of just following It deferred your you recognition your that's or

Robert Simmons

Yes. at It on whatever. or depend to Again, with too much this going contracts depend will extended some of these in tough if point. happens to it's that production what It's little on they're a levels. dial

in we've again, as years to our likely that fully So take $XXX sitting right know.But that will past, many now, it's reverse. sheet there to on a that's little the million balance tough said

beyond $XX production then on depend the million probably this that. year So will cadence and

Savanthi Syth

year least a way to it? fair next about million is think But at $XX

Robert Simmons

it possible be. mean, That's I the one of on depending of and sort could outcomes, again, production. contracts

Operator

seeing over the for I'm Chip back further Childs time. I no remarks. now turn any at to will questions this call closing

Russell A. Childs

most at, entire well.And how operation pleasure you represent to you, them where And for in the next a a fantastic have as with thank and operated be our the conclude industry. your the partners, We them we thank has to talk I professional have in months work as and over all want that we again, we well very well for winter Thank fantastic and employees in we as feel are done Thank you SkyWest. it's Brianna. quarter. they've position that, shareholders fortunate best interest where to personally will -- to our the you.

Operator

conference. today's concludes This your Thank participation. for you

disconnect. now may You

SkyWest (SKYW) 25 Apr 242024 Q1 Earnings call transcript