SKYW - Earnings call transcript Q4 2024

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Operator

Ladies and gentlemen, thank you for standing by. My name is Abby, and I'll be your conference operator today. At this time, I would like to welcome everyone to the SkyWest Inc. Fourth Quarter and Full Year 2024 Results Call. [Operator Instructions] Thank you. like the now Mr. over would I to conference turn to And Simmons, Financial Rob Officer. Chief

begin. may You

Robert Simmons

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

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

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

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

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

Eric Woodward

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

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

Russell A. Childs

tragedy a on all to colleagues everyone. affected aviation on lives the support involved by board. SkyWest aircraft been you, This our and Aviation, our to aircraft and and of event. deepest call those when National joining tragic today. have industry the us collided all Thank start night, Eagle colleagues to throughout Thank our offered at I for with our in Reagan a American who approach PSA and extended to ones. military Good and resources their is this loved and military the has American, and Rob us Airport condolences support we and Eric. happen of afternoon, unthinkable want for an you on the Washington's acknowledge claiming last

enable onboard needed technology, systems hundreds and flights management invest investigation The the safely training investment adaptation and safe support system to extensive, fly will ready of millions of fleet, we offer to thousands an our of industry's challenges. programs That rigorous that day. dynamic in each As airline, dollars safety across and ensure ongoing we undoubtedly to nation. airspace NTSB safe stand be to includes

was more for on week, not X this airline XXXX. Companies of of humbled this remotely than and Just X airlines teamwork -- the Admired part SkyWest and honor This professionals, U.S. named most list. team. SkyWest XX,XXX be and outstanding is our integrity World's is possible of X only only I'm the Fortune's regional of the without to

quarter, completed XX.X% the delivering XX,XXX our the adjusted same more last During nearly people quarter completion. fourth year, than flights together,

new restore bring As to we our to service growth plan execute continue first on to or underserved communities. work our

diluted share utilize existing income credibility of net SkyWest. Today, new prepared fully next, $X.XX and between this for operating third, a EXXXs for our strong million our our fleet XXXX. per and XX or fourth SkyWest and $XX of to redeploy maintain to receive ability differentiator of reported Second, upcoming key quarter remains the deliveries year

SkyWest's of a CRJXXXs our income all We nearly fourth of XX CRJ-XXXs and United a current new with along for Delta XXX $XXX also agreement. CRJXXX of under and under Airlines announce extends that to We're total for allows that This also or $X.XX flying, long-term American net we multiyear XXXX SkyWest during the agreement reported per agreements. year. diluted places quarter, share pleased reached American extension million the with contract

will have the XXX Additionally, of end the as we couple over XXXX. by of receive another next XX we EXXXs total years,

become to December. in Aspen the to proud operate first carrier into are We the EXXX

delivery and quarter fourth our aircraft regional XX% strong generated position book for continues us block and to hour production the dual-class during the of market demand Our increased ongoing share.

overall place pipeline. hiring very our are a now pilot improve. in matched to believe continues with we staffing, and a balance and pilot robust outlook production through We staffing Our are well

confident the staffing is be measures place progress, past we fully hour into long will production expect this have to ensure years over We put compared XXXX. X the term. With this XX% we block the stabilized are about up continued to over year

our places discussed As our we'll we strategy, pre-covid this on smart and long-term execute remain investments utilization fleet levels. to the we utilization disciplined and as redeploy last our pathways. and quarter, in us in make people near and continue restore We growth

will in with a spend fleet, increase our about made compared optimistic with minute. aircraft ahead. As remain we speak and year investments year more strong part partnerships operation last the will our our and Overall, and those to it Wade demand, of ongoing that about well-positioned

We take respond now have continue demands. Rob to people in the market and financial our play in strong to possible long data. to game we the investing will spent several in us are years the best the and fleet our situation last heavily through ensure to

Robert Simmons

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

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

XXXX GAAP we per reported or year, earnings net the share. income million Before $XXX of $X.XX

XXXX, million QX X% XXXX. million million $XXX First, $XXX is up talk about Total in from revenue let's sequentially revenue. up QX and XX% QX $XXX in of from

down QX at recognized a $XXX X% was in and QX up of include previously QX, XXXX with XXXX effect QX similar revenue million QX results QX up in million $XX from XXXX. million XXXX. Leasing million, rate recognizing deferred from QX quarter XX% XX% recognizing million and QX These contract and charter this $XXX XXXX. Pro from breaks $XX XXXX. the in to QX revenue revenue deferred in $XX from QX X% million XX% up QX, revenue from other of up of the and X% up and revenue was year revenue GAAP We up ago. from $XX

we $XXX be had QX, expect in XXXX, of QX cumulative continue million subject to this will to that run revenue rate periods end we in the production levels. As future deferred of of recognized

from results equity our investments GAAP income also and million gains of of mark-to-market on below-the-line to gains the Our equipment. reflect sale $X other related

and included Let to of We EXXXs down cash The the shares the million move the the two, million $XXX last in XXXX. $X accretive slightly buying stock new during before actions from in and the the me at one, sheet. million QX back cash ended in of $XXX repaying decrease quarter in million, $XXX X QX; million debt $XXX quarter of: with financing quarter XX,XXX on QX for SkyWest additional delivered XX.X or approximately three, $XXX per shares beginning construction with shares other CapEx. EXXX the including engines [indiscernible] the of investing purchased in of from at new price share. Since United, EXXX spare X CapEx, have share; the toward and aircraft, company outstanding of price of the average Tucson, an at payments per repurchased a $XXX new CRJ-XXXs of $XX.XX $XXX million XXXX, for we hanger along million million in a balance

is cash million CapEx $X calculus. an XXXX. Cash flow important our up derisk sheet is over our from We employees and generated to free shareholder and our benefit component in as to $XX the Our QX CapEx and year-end flow million creation our an of is shareholders. delever value primarily balance from ended partners, the in of to $X.X achieving billion of tour and our catalyst QX in investment billion, growth important in debt We down in of initiatives. $XXX

on Our opportunistically are as continuing a including and strong and growth balance EXXXs, over program. our pursue XXXX financing we well-grounded variety in sheet and opportunities, execute to additional repurchase liquidity tools million repaying acquiring of XX powerful $XXX share

to like decade. and As point we we the debt leverage on our of improving over a at remain our focused would net on are their highlight lowest returns following: ratios capital, cash in

repurchasing million start shares beginning outstanding to shares since of had As a of XX.X of XXXX. million of XXXX, shares XX, as the we XXXX, as result XX.X the and million XX of December compared over

this in had color remaining was CapEx million. Consistent supporting approximately any you As and and a opportunity. of we guidance funding under XXXX. our EXXXs XX, giving with million, will give at $XXX the not but We me additional anticipate engines our including XXXX are aircraft $XXX specific be time, new EPS $XX of and current policy million CRJXXX our on practice, repurchase authorization. little Total XXXX let CapEx and our share X growth initiatives we total purchase our December

be discuss As production. Wade we approximately XXXX our in XX% to will in XXXX. The strong utilization outlook for a improving primarily up our availability over demand minute, improved is hours by and XXXX driven our and ongoing now fleet hours block anticipate block

could expect executing in successful the area us. our and $X opportunities front of if we XXXX share in per GAAP be in EPS We are on the

slightly our For depreciation XXXX modeling flat from purposes, expense expect down XXXX. to will we be

lives service few the older on depreciation our the place by to opportunities expense out and expansion fleet contract investment the new useful CRJXXX are years, into pushing CRJXXX CapEx. in estimated CRJXXX incremental a aircraft expected offsetting from Our our

'XX. going our CRJ placing the of service on possibilities and utilization X following and partially communities, and about ERJ and driven in over us: by in XXXX, underserved growth optimistic fleets; additional improved growth aircraft availability into into XX including aircraft; XX are deployment XXXX We XXXX second, CRJXXX our first, and the new third, EXXXs

and returns. believe and us growth of well sheet Wade? balance variety will drive total actions will that liquidity taking strong opportunities shareholder the a our to we position We be

Wade Steel

American including flying fly United new option agreement the also operate for an this total this decade. Last XX of CRJXXXs a a additional quarter, to aircraft allow bringing to with CRJXXXs United, add from quarter, of During CRJXXXs for most multiyear with through This these reached agreement, total to we that to will agreement under had American revenue new we purchase agreements. announced agreement allow XX. fourth total the a to of XX committed for we extension an of United. that multiyear to SkyWest a would XX XX for

XXXX. I had end operate aircraft, at this As XX existing rest X of of this will along expect agreement modified million last operating the from of that with the be EXXXs of with aircraft additional by year, our purchase new of want these XX point end by XXXX to fleet. and the during net and arriving XX Of XX the to CRJXXXs, were out we the XX by expect purchased this XXXX. growth service quarter. We represents to year-end entering year-end, aircraft the CRJXXX end X the of

Delta our Delta quarter. first dual-class successfully CRJXXX bringing our extension American, strong the partnership with and CRJXXXs CRJ We and are we transitioning July, end digits. agreements, excited down United XXX, our of last fleet unassigned about and single anticipate by of with XXXs We Delta the number to flying our CRJXXX to United. with along this These new CRJXXXs launched XX continued

will assigned We be soon. expect partners our to major these aircraft few X of

our under XXXX, earlier EXXXs that contract. a replace CRJXXXs, flying for announced agreement another to recall United we United-owned carrier from in United You'll Express XX XX

all of of transitioned operating December. As they as were aircraft year-end, we and of these

also X We delivery for EXXX took of new during QX. United

X have EXXXs order, XX currently new We United on for for and Alaska. XX

of in end the in position world. XXX, delivery the expect in continuing XXXX, XXXX. At be Embraer as the our XXXX total and X largest will We EXXX operator X enhance SkyWest fleet to of

production. more anticipate QX similar compared QX. Let me hours block hours our to review schedules our current Based for the from QX block than XXXX. X% we up major to partners on completed were QX,

As a compared reference, XXXX, our in anticipate levels. to increased XXXX XX% block point We by XXXX. increase hours to of approaching XXXX our a compared approximately XX% XXXX

aircraft seasonality will hour to CRJ months. XXXX. in be that We aircraft currently utilization returned parked are model and and under agreements operating improves We the have [indiscernible] approximately XX to flying strong during XXXX summer service, expect be will block still the dual-class as to return

CRJs flying parts our As quickly challenges. in and challenges MRO experiencing place and we service, into third-party returns network, we including labor continue

average million to we We expect current to a long-term service storage as out aircraft as $XXX fleet increase. during production maintenance bring and expense XXXX, of the quarter continues

goes happen aircraft you would into service. back expense the will expect, As maintenance before the

X little CRJXXX partners supporting very restore [indiscernible] to own associated our our very in to and cycles CRJXXX also plans million over efforts review engaged production. I debt, value have and book approximately remain aircraft, Our assets. monetize. remaining have XXX monetize want we no our still to to We

SkyWest Our fly Airlines is under with contract them or priority at our prorate partners in to business. our

XX is operate have SWC on-demand priority currently service. charter aircraft next at Our these or aircraft SkyWest to flying Charter SWC. We

asset SkyWest provide also to under our Contour. You'll agreement airframes that engines an CRJ in ownership recall includes Contour which stake will and minority provisioning

as far remains support. extremely demand prorate strong As great community with our business

communities several opportunities We CRJ service to restore are seeing return production. to SkyWest as we

communities continue will we We the way with our service. to to serve the on work expand best

our As seasonality we see increase business, our we prorate will reintroduced more into model.

are QX remain our QX work provide are airlines, typical with continued our the QX We our softer. ongoing risk and As to and and quarters fleet each products. to QX our financing demand strong enhance flexibility and to committed creative to all revenue and effort feel with and major partners continuing about solutions good reduce of for

Robert Simmons

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

Operator

Instructions] first your the [Operator James. And Savi from of question Syth Raymond line comes with

Savanthi Syth

we off notice reengaged aircraft the then that with SkyWest small this Maybe it's that curious, where kind of of that I kind any the that did you're summer? Charter, back still more you this start service early. expecting has SkyWest quarter. if summer? Or end specifically back up I you've or was a of just had come FA authority X kind if post this can getting kind was bringing pro per too about commuter lot ability there bring changed to I administration I rate, communities curious and think Charter of to just back differently as to of And is more on the to a related now of rate just kind of if on

Wade Steel

this Savi, rate the is Yes. about side. pro

as strong But on the rate So our will there and be for have added pro a of and very basis what is summertime. rate, fourth quarters. markets in as the very, the the and in majority pro a first we're quarter, second existing we is few couple seeing a contract far

side. and end or we're lot And the to so a -- more to of looking additional additional at add markets QX on the prorate QX other of QX .

Russell A. Childs

question. the Charter very strategic forward And extraordinarily the commute understatement. to this this priorities night an we relative the events X.X-year a sensitive look of authority. We reengaging to in do think the is We your last better second incredibly of with but have is answer at see are I'll Savi, we SkyWest Transportation, opportunity being Department that that Chip. optimism to reengaged serve opportunity term I half use you that this Yes. certainly important challenges and to at get the certainly to happened communities. the good

are yes, process. we so And definitely that in reengaging

Savanthi Syth

just pro if lines, impacting curious a EAS. lot you're may just and I the a if lot contract Air American about rate And along as too seeing opportunities that. your recently and early? doing Appreciate those And lost Wisconsin or talked still of that

Russell A. Childs

we deep have built going It's to communities. all what is. exception don't a ago. XX how we impact it's difficult that's of that of No, And sense tremendous I to model with with integrated we what communities. were on strategy our roots to be Again, think these deliver mostly going to compete very an years we because these with and our passion are we

So calculated manner. press in forward do and a this going continue safe to to very we're

Operator

of And your line from the Linenberg question comes Michael next Deutsche Bank. of

Richa Talwar

on Mike. Harnain for Richa is This

Just my first question.

to the the some contract extension On American, with us you extension how that give on made color terms has compared can previous of contract? the

Wade Steel

Wade. This is Yes.

the to economics what we we to and decade, today. end the The the extended through very said, are aircraft. as have we So up to term of goes XX similar

Richa Talwar

and EAS that markets Any eliminates there on focused transition administration know conversations be any on governance that the updates service. Is the growing under any issues changes a [indiscernible] with your or Got this And perhaps would the policy maybe the risk from helpful. just I Trump DOGE flying under it. line. ES touching other certain on you're

Russell A. Childs

federal to Transportation positive the some week confirmation they're hearings you government, States. it of about We Chip. that is which the extraordinarily There's Secretary. very carefully. the throughout political a obviously, to understand prevalent which monitor a has communities. small investment or of Air what we these in because this back is. that wasteful I deep ways Not throughout to things was aggressive I air would United to the This as is for the comments, because there's the of economy gives of locations of mostly nature Essential And for X something last service be back that lot new of Look, X also going commitment this DOGE mean, we support circular this you spending, times it There a take the this. of it. I lot direction the service. deem and been We is mostly a think roots his about monitor in Yes. of very lot lot program. know essential

various time good aspects plans term job look, is serve sure right to for to So making and faced long we're lot successful in to communities small find I some small make think systems got for through our doing are that a the communities. of and been the make And we've challenges sure this that long served. sure approaches a we tools and these we've of this. that And have

Operator

of question O'Brien the Your with from comes next Goldman Catherine line Sachs.

Catherine O'Brien

Good afternoon, the thanks time. and for

about delivery we into continues U.S. continue pilots. head some to more need to the count delays larger cases, workforces to industry pilot their So grow reductions in seeing airlines aircraft we're hear given face. In the

last helpful. levels How get if X versus do You another demand, pipeline? color year still 'XX today based and demand. and you it out more called the to X,XXX grow? you're this X,XXX, to about saying just to on then is ago pilots Any meet in a like back need you need demand to And pilots just pilots still then you continues what another have had another more there X,XXX -- even would do be many perhaps

Russell A. Childs

to year some was, aircraft because Katy, worked in what it's back still flown XX twist into carriers I'm levels for utilization very in are our put been bit have our more is changes slightly ago strategic -- little a we we good how been probably SkyWest. very Chip. said to what XXXX. And for being to certainly a down be major minor are out us. schedules the Yes. this obviously, well months our compared going a of both to it have think -- I But and with disciplined there's

good aircraft with our I and -- of perspective, us. than we've at, probably, XX year levels a that were months is looking yet. ago, think not from maintained with the being got got mentioned we growth pace we think challenges But at Wade which and to what with supply slow coming, some pilots disciplined So today, certainly, sure. for another better coming at some a out what initially helps We've have XXXX We're a very approach. I consistent

a We manner be which come so extremely way we of a as on it's we the pace are hiring out, very, very not needed. candid in we are of And stable, to strong good low. we as that many as and it's think pipeline. our our it's have predictable, a But growth. and like attrition pilots very, very levels today, anticipated I And

a So going good from very, place good a growth think to very, I we're consistent in future. basis that consistent us, with to enable in do things on plan strong, perspective, us for very a the that's very

Richa Talwar

just block maybe the the in production on this X then hour uptick for And year. Thanks.

someone know was aircraft quarter partner it growth possible, property the perhaps drive plus block could what Like provide XX% stable that to to move Ember in around pro away a a XX% where pace further thought refine would upside was further XX would is don't aircraft increase than edges the or going Like that else? now at back what I what that's -- you the it that or year or looks up? little coming ago? a year that ago, Now more a more aircraft come new turf in Is so to from upside plus hours? XX% at incremental and your

Wade Steel

Wade. Yes. question. that's great a is No, This

X it fleet probably as drive I in a really a where there's XXXX. is mentioned, couple of continue That's little Chip that than still up. is Number things utilization that bit thing the biggest utilization would could number say. to So our lower was

additional then I talked more system, a labor aircraft some our through that could our is to block availability, from standpoint. about, expectations, If we as utilization for and The during more challenges, start second both of get hours we additional into drive say and just the we thing fleet XXXX. MRO as the chain supply parts as become would exceed available

Richa Talwar

third sense. makes maybe squeeze X And I'll in. one That

at the the waterfall a the they you go you that like would still third sounds outside those preferences not get -- XXXs, walked of should it with part that would on think a and waterfall, like also rounding or kind contract agreement front CRJXXX And to terms partner Charter. in long-term XXXs sell entity? like I CRJ dual-class you question, we straight to or third to we have then to That So what's we I be for prorate of demand that Contour, be look secondarily, the the about or this point? of Contour. If sales. offtake a of And if on the know through not asset sale a your some so they was CRJXXX? of I another a it's quick Is to where what's guess, apologize. go also market how mentioned more choice

Wade Steel

one good though. a That's

with So as records getting airframes of the of engines. the lot with waterfall well interest just strong they and and it of Contour. last very they've assets, The sell lease there. combination very that. a Generally, things part just We're because great have our patient as been a we in still of out is like There's we the there, is actually rid the maintained fleet. demand the some far and assets our

demand. And some still there the mentioned is good value. there So Rob in quarter sales added his script, some as during was that

So looking do continue our actively we'll fleet, to still that. to we're and monetize

Operator

comes And from line next question of Cowen. the Fitzgerald with Tom your TD

Thomas Fitzgerald

year. on Congrats really a incredible

deurbanization get modeling the but service beyond how getting 'XX to that's of too could beyond, a upside with to if just restoring XXXX. just occurred even should together seems wondering communities, just lot of how frame of about just us you help to Just and there's as start kind post I'm It -- not the about back think thinking and theme then term, of ahead small about this long like I'm the we pandemic. trying fleet? And talk we myself, people

help you should investors of if the secular love just you have? frame long-term the guys tailwinds I'd how some So could think about

Wade Steel

Yes.

-- those still question. in out XXX portion can strong we there. other talk about, very help Chip 'XX XXXs deliveries contracts. some the and is have I'll ones so it, have the So 'XX. of XXXX, under But end with Embraer we Wade. we'll answer great This fleet and of By of long-term as

We will long-term the then also transitioned and all up have airplanes CRJXXs, have on flying. dual-class our still And we and side. fully under that are contracts still CRJ

have have getting operate XXXs that on will that those can we'll great we into of XXXX. into continued think well we there's a that that come fleet XXXX a then up to very and growth we will continue will stable time the XXX frame So fleet, lot that in

Russell A. Childs

Yes, kind would the playing you Tom, how our we've for across good will X And book reiterate of an I I'll this CRJ be that XXX look tackle I still term and been likely playbook at Chip. that tell is X redeployment would that's into XX a I long it. well to partners. of to fleet say would future. extraordinarily that, just been amazing And alive probably is

for care strategic assets with XXX about talked length a more within to to of the of more continue amount coming biggest term. how off Wade XXXs in an that state mature contract next to a utilization our probably to we're partners getting couple earlier of to We're taking long flexibility. do X flexibility terms. We're the in our I And of order things XXX. bit of a strategic years. of think some impact But little fleet on reiterate, the we these would fleet tremendous potentially make sure of and and fleet all of very us the gives contracts question still that I conversion

the our tell have very to but robust with certain aircraft the strong, well. anything getting really announce to I strong I know without that has we to would continue partners maybe really, about flying got don't with market we've you Aspen good, that do specifics, But the reiterate playbook. proven leader have being to the how today, conversations just we a of wanted into EXXX, that things We

credibility incredible marketplace. have within We the

is everything. long with team are professional dispatch, attendants, in Our well. combined fleet for credibility flexibility, our term industry. we That as the best mechanics, optimistic the from flight the long,

Thomas Fitzgerald

Okay. expense the maybe as a that nonoperating That's Great. ton tailwind a sense. just makes debt helpful, believe XXX follow-up, from with the in to the start and of fleet, next all I associated incredibly year. And kick

you maybe if you the be just Congrats. think Thanks it time. again. aspect about would everybody that So for again helpful remind

Robert Simmons

With Tom, -- it's here. Rob respect

run I that should the rate of nonoperating to the expect on of there So with -- nonoperating that that fourth basis. something say portion worth But items. respect other you benefit the quarter, and asset a a this from going not $X forward, can about in quarter, was sales came combination won't that that's yes,

Operator

question Evercore line with Duane And your of from the comes ISI. next Pfenningwerth

Unknown Analyst

the [indiscernible] any target Do paid Jay that the have could its a up, kind To Duane. of levels EXXX on Leverage Tom's is delevering is to? decade, you This mentioned lowest occurring fully to you as level at starts follow get for fleet off. in speak question. leverage second just

Robert Simmons

Jake. here It's again. Rob

we've respect been building again, sort sheet. with balance So we've -- been to derisking last been our the leverage, years towards deleveraging, we've we've target of waiting as been several this for been moment we've

our will point fully where way. like those we taking to with have to of fleet. continue the now X XX-year again, a the the usual we the expect in bulk the be we'll order mortgage 'XX, XXXs finance and XXXX as in style we that debt amortizing book So to for we're strong have

we several able increase leverage may because past we've we the release been that take obviously we growth liquidity. an to years may we've advantage engines, and -- of liquidity keep us as and I the these the see And said, or deleveraging able CapEx or to see being those think in spare those. opportunities been front of So we've that I to for opportunities continue preparing this been of our for choose to do. to as We in other similarly, want again, related to strong not those opportunities

capacity billion flexibility balance we've we're growing on over So we've $X.X of debt that of got the our that collateral proud got now. the been unpledged sheet, the that we've right

We us. front a the growth of in on of nature the have lot opportunities of depending flexibility

Duane Pfennigwerth

And XXXX a give color growth, contract charter follow-up, block flying? the on any Okay. rate That's between can helpful. and just guess the per just XX% mix you line I hour

Wade Steel

Wade. contract. We is of is that is majority This flying. contract vast vast the Yes. flying The of our majority --

so X And side. have long-term contracts, airplanes into one. Number it's are been service is up number that that just utilized on contract really too. getting getting under just airplanes That's the bringing parked, better them

So majority of the increase contract is side. the vast on that

Operator

there are this at further no questions And time.

like Mr. Chip So closing back I to conference over would Childs for remarks. the now turn to

Russell A. Childs

end I'll evening. hearts minds started. the to Again, and our those affected we go that last out were where with by unfortunate of Yes. event

to amazing continue buy our how with in continue that to our support to that appreciate in it. model most and the good which with in to that's shareholders we about have we to humbled team effort. We're integrated support do they off appreciate colleagues hats interested associated term. We the because long grow to and very We We to be into which people continue industry things that we're and call. the in passionate opportunity very, the from we do humbled have everyone our support the our

the to call and Thank quarter. So you. with talk that, next you end we'll

Operator

and thank concludes your we you gentlemen, for and And call, ladies participation. today's this

may now disconnect. You

SkyWest (SKYW) 30 Jan 252024 Q4 Earnings call transcript