SkyWest Reports Operating Loss for First Quarter
SkyWest announced financial results for the first quarter of 2014. The airline reported an operating loss of $22.9 million, a significant drop in net income from an operating profit of $3.2 million in the first quarter of 2013.
The airline said the operating loss was mainly caused by weather-related flight cancellations in the first quarter.
Total revenue for the first quarter was $772 million, down 3.9% from $803 million in 2013.
The airline reported an increase in traffic of 0.4%, up to 7.275 billion revenue passenger miles, or RPMs, from 7.244 billion in 2013. Meanwhile, the airline’s capacity decreased by 2.2%, to 8.993 billion available seat miles, or ASMs, from 9.194 billion last year.
Passenger load factor was 80.9%, an increase of 2.1 percentage points from 78.8% last year. The airline’s passenger revenue per available seat mile, or Prasm, decreased by 1.1% in the first quarter as compared to the same period in 2013.
SkyWest reports traffic results on a system-wide basis, and does not break down results by subsidiary. The final numbers represent combined data from the parent company’s two subsidiaries, SkyWest Airlines and ExpressJet Airlines.
(Photo: Accura Media Group)