SkyWest traverses the skies in every direction -- not just west. The airline operates through two main segments: SkyWest Airlines and ExpressJet. SkyWest has destinations to about 275 cities in the US, Canada, Mexico, and the Caribbean, supporting 4,200 daily departures. Combined, SkyWest's carriers operate a fleet of about 760 aircraft consisting of Canadair regional jets (CRJs, made by Bombardier) and turboprops. SkyWest also has a code-sharing agreement with Delta Air Lines and United Continental's United Airlines. (Code-sharing allows airlines to sell tickets on one another's flights.)
SkyWest operates through two reportable segments: SkyWest Airlines and ExpressJet (which reflects the combined operations of Atlantic Southeast and ExpressJet Delaware). SkyWest Airlines provides regional jet and turboprop service to airports primarily located in the Midwestern and western United States. ExpressJet provides regional jet service principally in the US, primarily from airports located in Atlanta; Cleveland; Chicago (O'Hare); Denver; Houston; Detroit; Memphis; Newark, New Jersey; Minneapolis; and Washington Dulles.
Along with regional passenger transportation, which accounts for nearly all of its sales (98%), SkyWest provides ground handling services -- loading and unloading of aircraft -- for other airlines at several of the airports where it operates.
SkyWest's balance sheet has experienced turbulence over the years. Although it posted revenues of $3.65 billion in 2011 (the highest in its history), it also suffered a net loss of $27 million. During 2012, its revenues declined 3% to $3.53 billion as it was able to post positive net income of $51 million.
The decline in revenue for 2012 was attributed to a 3% decrease in passenger revenue. Its positive net income was attributed to a decrease in operating expenses, which included a reduction in property tax expenses, training costs, and legal and consulting expenses.
Amid growing demand by airline giants to cut costs by outsourcing regional flights, SkyWest is moving to further diversify its operations and marketplace presence. Owning ExpressJet (bought in 2010) positions SkyWest as a strong competitor for more business from Delta and United, as well as for contracts from other carriers. Industry turbulence, however, is growing as air carriers move to consolidate.
To extend its global reach, SkyWest has a 30% stake in Vietnam-based Mekong Aviation (operating as Air Mekong), which flies to eight destinations from the US, including Da Nang, Hanoi, Ho Chi Minh City, and Phu Quoc.