Weather Expected to Hit SkyWest Fiscal Results

SkyWest said it now anticipates its fourth quarter 2006 net income will be approximately $28.5 million to $32.3 million when actual results are announced on February 7. The airline cited massive storms which closed Denver last month, forcing the airline to cancel virtually all of its flights for two days and experience additional downstream cancellations. It estimated it cancelled 2,850 flights during the weather siege at the airport. In addition, the airline cited preparations to launch its new service for Midwest Airlines at Milwaukee and Kansas City, as well as its new Delta Connection service at Cincinnati. The preparation included accelerated pilot training charges which will ultimately be reimbursed by the partner carriers. Finally, SkyWest also cited additional maintenance charges related to the timing of maintenance events for aircraft transitioned between Atlantic Southeast and SkyWest that are not reimbursable.