SkyWest, Inc. (SKYW - Free Report) reported 8.6% year-over-year increase in block hours (a measure of aircraft utilization) to 127,415 for June 2019. The carrier stated that the rise in block hours resulted from the addition of E175, CRJ900 and CRJ700 aircraft to its fleet since last June.
This regional airline is focused on streamlining its operations. It aims to reduce the 50-seat jets in its fleet and add new E175 aircraft.
The company’s dual class aircraft (E175, CRJ900 and CRJ700) accounted for approximately 64.8% of the carrier’s total block-hour production for the month compared with approximately 59.7% a year ago.
Additionally, this St. George, UT-based company reported 7% ascent in block hours for the first six months of 2019. Load factor (percentage of seats filled with passengers) improved 170 basis points (bps) to 86% in June. Also, the number of departures and passenger count climbed 7.1% and 10%, respectively, in the month.
Notably, SkyWest completed the sale of ExpressJet Airlines to a third party on Jan 22 this year. Hence, the traffic report did not include ExpressJet for the year-ago period as well.
Zacks Rank & Key Picks
SkyWest carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the same space are Air China (AIRYY - Free Report) , United Airlines Holdings (UAL - Free Report) and Azul (AZUL - Free Report) . While Air China and United Airlines sport a Zacks Rank #1 (Strong Buy), Azul carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Air China, United Airlines and Azul have rallied more than 17%, 6% and 39%, respectively, so far this year.
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SkyWest, Inc. (SKYW - Free Report) reported 8.6% year-over-year increase in block hours (a measure of aircraft utilization) to 127,415 for June 2019. The carrier stated that the rise in block hours resulted from the addition of E175, CRJ900 and CRJ700 aircraft to its fleet since last June.
This regional airline is focused on streamlining its operations. It aims to reduce the 50-seat jets in its fleet and add new E175 aircraft.
The company’s dual class aircraft (E175, CRJ900 and CRJ700) accounted for approximately 64.8% of the carrier’s total block-hour production for the month compared with approximately 59.7% a year ago.
Additionally, this St. George, UT-based company reported 7% ascent in block hours for the first six months of 2019. Load factor (percentage of seats filled with passengers) improved 170 basis points (bps) to 86% in June. Also, the number of departures and passenger count climbed 7.1% and 10%, respectively, in the month.
Notably, SkyWest completed the sale of ExpressJet Airlines to a third party on Jan 22 this year. Hence, the traffic report did not include ExpressJet for the year-ago period as well.
Zacks Rank & Key Picks
SkyWest carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the same space are Air China (AIRYY - Free Report) , United Airlines Holdings (UAL - Free Report) and Azul (AZUL - Free Report) . While Air China and United Airlines sport a Zacks Rank #1 (Strong Buy), Azul carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Air China, United Airlines and Azul have rallied more than 17%, 6% and 39%, respectively, so far this year.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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