
SkyWest Inc.'s net income barely budged in the first quarter as on-time and baggage delivery problems, rising operating expenses and training costs outweighed higher revenue.
"There's no doubt about it. From our perspective it was a difficult quarter for us," Michael Kraupp, vice president of finance at the St. George-based regional airline holding company, said Wednesday.
SkyWest owns SkyWest Airlines and Atlantic Southeast Airlines. It is a contract flier for Delta Air Lines, United Airlines and Midwest Airlines.
SkyWest earned $34.8 million for the quarter ended March 31, less than 1 percent more than what it made in the same three months of last year.
Earnings per share fell to 53 cents from 57 cents last year. Wall Street was expecting 59 cents, according to a survey of analysts by Thomson Financial.
Operating revenue reached $789 million during the quarter, a 6.2 percent increase from the first quarter of 2006. Revenue went up mainly because of a sharp increase in available seat miles - a measure of airline capacity.
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