SkyWest, Inc. (SKYW) experienced a decrease of 8.32% in premarket after the company announced fourth-quarter 2021 results. However, the last trading session closed at $37.96 with a decrease of 2.09%.
Fourth Quarter 2021 results by SKYW – How was the quarter?
SKYW announced fourth-quarter 2021 results on 3rd February 2022. The company reported a net income of $4 million and adjusted net income to be $176 million. Moreover, revenue came out to be $777 million more than that of $590 million in Q4 2020. Not only this but operating expenses totaled $744 million with a 21% incline. Last but not the least, the rise in operational expenses was mostly attributable to a higher number of flights conducted in Q4 2021 than in the same quarter in 2020.
What’s Next?
During the fourth quarter, the company saw continued robust demand for the product. While the company faces new challenges as the sector prepares to operate in a post-pandemic climate and SKYW rebalances the workforce, the team remains committed to providing an amazing product. As the team navigates this very unpredictable era, the company wants to congratulate the colleagues for their continued flexibility and hard work.
Partnership of SKYW to Develop Regional Operator Network – What’s up?
SKYW announced on 21st December 2021 that the company has signed a Memorandum of Understanding and a non-binding Letter of Intent to buy 100 electric vertical takeoffs and landing aircraft from Eve. Moreover, the cooperation will concentrate on establishing a nationwide deployment network.
Eve’s cooperation with SkyWest ensures that every passenger served by this alliance receives the finest possible service. SkyWest and Eve’s combined experience and operational knowledge will bring a solid and mature operation to SkyWest’s broad reach. Lastly, SKYW is very excited to provide the company with a fantastic experience that will help to improve accessibility.
Now what?
The company is excited to collaborate with Eve on the launch of this ground-breaking product as part of the ongoing focus on environmental stewardship. Moreover, Eve’s all-electric eVTOL aircraft will bring zero-carbon emissions, improved urban quality of life, and better connectivity. Lastly, Eve, Embraer, and SkyWest will work together to support types of aviation with this cooperation.
