Press Release

10/30/05
SkyWest reports third quarter profit

SkyWest Inc. last week reported operating revenues of $497.3 million for the quarter ended September 30, 2005, a 61.3-percent increase, compared to $308.3 million for the same period last year. SkyWest reported net income of $30.1 million for the quarter ended September 30, 2005, compared to $21.3 million of net income for the same period last year.

The operating results reported above include 23 days (Sept. 8, 2005 to Sept. 30, 2005) of combined operating results of SkyWest Airlines and Atlantic Southeast Airlines subsequent to SkyWest's acquisition of ASA. On September 7, 2005, SkyWest completed the acquisition of ASA from Delta Air Lines Inc. for a purchase price of $425 million. Total ASMs for the third quarter of 2005 increased 59.2 percent from the third quarter of 2004, primarily as a result of the Company increasing its fleet size to a combined total of 376 aircraft. This combined total of 376 aircraft is inclusive of 151 aircraft operating for 23 days related to the ASA acquisition. At September 30, 2005, the Company's fleet consisted of a combined total of 301 regional jets (102 United, 195 Delta, and 4 SkyWest), 63 EMB-120 aircraft (50 United, and 13 Delta) and 12 ATR-72 aircraft (all Delta).

During the third quarter of 2005, the Company generated a combined total 3.23 billion ASMs, compared to 2.03 billion ASMs (SkyWest only) during the same period of 2004. During the quarter ended September 30, 2005, SkyWest Airlines entered into long-term permanent leveraged lease facilities for ten previously delivered CRJ200 regional jet aircraft and 27 previously delivered CRJ700 regional jet aircraft with two different parties. All of these aircraft deliveries were previously financed under interim facility arrangements with various parties.