We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
SkyWest (SKYW) November Block Hours Fall, Load Factor Rises
Read MoreHide Full Article
SkyWest, Inc. (SKYW - Free Report) reported year-over-year decline of 2.9% (4,200) in block hours (a measure of aircraft utilization) to 140,000 in November.
The regional carrier, focused on streamlining operations, stated that the fall in the metric was in sync with fleet transition plans.
Notably, SkyWest’s dual class aircraft (E175, CRJ900 and CRJ700) accounted for approximately 54% of the carrier’s total block-hour production in the month compared with approximately 52.9% a year ago. In terms of airlines, SkyWest Airlines and Express Jet Airlines contributed 80.5% and 19.5% of the carrier’s total block-hour production in November, respectively.
Load factor (percentage of seats filled with passengers) expanded 90 basis points (bps) to 82.9%. While the number of departures in the month fell 6.3% year over year, passenger count declined 5.6%. Also, this St. George, UT-based company reported 4.7% decline in block hours for the first 11 months of 2018.
SkyWest undertakes constant efforts to modernize its fleet and streamline operations. The company aims to reduce the 50-seat jets in its fleet and add new E175 aircraft. Moreover, the carrier is set to take delivery of eight E175 aircraft during the fourth quarter of 2018. By the end of the current year, SkyWest’s fleet is expected to consist of 146 E175 aircraft. We expect these efforts to boost the company’s results in the final quarter of 2018.
Shares of Air France, Spirit Airlines and Frontline have gained 26.7%, 49.7% and 12.2% in the past six months, respectively.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
Image: Bigstock
SkyWest (SKYW) November Block Hours Fall, Load Factor Rises
SkyWest, Inc. (SKYW - Free Report) reported year-over-year decline of 2.9% (4,200) in block hours (a measure of aircraft utilization) to 140,000 in November.
The regional carrier, focused on streamlining operations, stated that the fall in the metric was in sync with fleet transition plans.
Notably, SkyWest’s dual class aircraft (E175, CRJ900 and CRJ700) accounted for approximately 54% of the carrier’s total block-hour production in the month compared with approximately 52.9% a year ago. In terms of airlines, SkyWest Airlines and Express Jet Airlines contributed 80.5% and 19.5% of the carrier’s total block-hour production in November, respectively.
Load factor (percentage of seats filled with passengers) expanded 90 basis points (bps) to 82.9%. While the number of departures in the month fell 6.3% year over year, passenger count declined 5.6%. Also, this St. George, UT-based company reported 4.7% decline in block hours for the first 11 months of 2018.
SkyWest, Inc. Price
SkyWest, Inc. Price | SkyWest, Inc. Quote
SkyWest undertakes constant efforts to modernize its fleet and streamline operations. The company aims to reduce the 50-seat jets in its fleet and add new E175 aircraft. Moreover, the carrier is set to take delivery of eight E175 aircraft during the fourth quarter of 2018. By the end of the current year, SkyWest’s fleet is expected to consist of 146 E175 aircraft. We expect these efforts to boost the company’s results in the final quarter of 2018.
Zacks Rank & Other Stocks to Consider
SkyWest carries a Zacks Rank #2 (Buy).
Investors interested in the Zacks Transportation sector may also consider Air France-KLM SA (AFLYY - Free Report) , Spirit Airlines, Inc. (SAVE - Free Report) and Frontline Ltd. (FRO - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Air France, Spirit Airlines and Frontline have gained 26.7%, 49.7% and 12.2% in the past six months, respectively.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>