SkyWest 3Q net income jumps to $20.9M

SkyWest Inc. said Wednesday that its third-quarter net income jumped to $20.9 million, helped by a steep drop in fuel costs and performance-based incentive payments.

The St. George, Utah-based company, which operates regional jets for United Continental Holdings Inc. and Delta Air Lines Inc., said its profit for the quarter ended Sept. 30 amounted to 40 cents per share and compared with earnings of $116,000, or break-even per share, in the same quarter last year.

SkyWest said its better-than-expected quarterly profit partially stemmed from incentive payments under its contracts with airline partners related to better on-time and completion factor performance.

SkyWest continues to hire pilots through the Airline Pilot Hiring Partnership between ATP and SkyWest. SkyWest also brings selected ATP pilots to Salt Lake City to be inducted as Cadets into their Enhanced Internship Program which allows the Cadets to return to ATP to build quality flight experience until they reach ATP minimums. Once the Cadets reach that level of experience they are hired as First Officers and enter training with SkyWest.

Those Cadets will have gone from beginning flight students with zero flight time to an ATP Instructor and then to the cockpit of an airliner in 18 months. That is the most direct path to the airlines available. They will appreciate the seniority they have gained by being hired well ahead of other pilots who have taken a much more circuitous route.

Seniority is everything in the airline industry. Get there first by training with ATP.