Lately, one of the first questions analysts ask during quarterly financial conference calls is whether or not they will institute a stock repurchase program. SkyWest joined Mesa in such an effort today when it said it would repurchase up to five million shares of outstanding common stock either on the open market or in privately negotiated transactions deemed appropriate by management. Both airlines are consistently on analyst buy lists.
“We believe that initiating a stock repurchase program at this time is a good use of financial resources and that it will further the advancement of certain corporate objectives” said Bradford R. Rich, executive vice president and CFO. He continued, “We also believe it will be in the best interest of both the company and our shareholders.”