Agreement |
Number of aircraft under contract |
Term / Termination Dates |
Pass through costs or costs paid directly by major partner |
Performance Incentive Structure |
Payment Structure | |||||
---|---|---|---|---|---|---|---|---|---|---|
SkyWest Airlines Delta Connection Agreement |
• CRJ 200 - 41
• CRJ700 - 19
• CRJ 900 - 32 |
• The contract expires on an individual aircraft basis beginning in 2014
• The final aircraft expires in 2022
• The average remaining term of the aircraft under contract is 5.8 years
• Upon expiration, aircraft may be renewed or extended |
• Fuel
• Engine Maintenance
• Landing fees, Station Rents, Deice
• Insurance |
• No financial performance based incentives |
• Rate per block hour, per departure and per aircraft under contract | |||||
ExpressJet Delta Connection Agreement |
• CRJ 200 - 76
• CRJ700 - 41
• CRJ 900 - 28 |
• The contract expires on an individual aircraft basis beginning in 2014
• The final aircraft expires in 2022
• The average remaining term of the aircraft under contract is 4.4 years
• Upon expiration, aircraft may be renewed or extended |
• Fuel
• Engine Maintenance
• Landing fees, Station Rents, Deice Insurance |
• Performance based financial incentives |
• Rate per block hour, per departure and per aircraft under contract | |||||
SkyWest Airlines Prorate Agreement |
• EMB 120 - 9
• CRJ200 - 8 |
• Terminate with 120 days notice |
• None |
• None |
• Pro-rata sharing of the passenger fare revenue |
Agreement |
Number of aircraft under contract |
Term / Termination Dates |
Pass through costs or costs paid directly by major partner |
Performance Incentive Structure |
Payment Structure | |||||
---|---|---|---|---|---|---|---|---|---|---|
SkyWest Airlines United Express Agreement |
• CRJ 200 - 61
• CRJ700 - 70
• EMB 120 - 9 |
• The contract expires on an individual aircraft basis beginning in 2014
• The final aircraft expires in 2024
• The average remaining term of the aircraft under contract is 3.8 years
• Upon expiration, aircraft may be renewed or extended |
• Fuel
• Landing fees, Station Rents, Deice
• Insurance |
• Performance based incentives |
• Rate per block hour, per departure and per aircraft under contract | |||||
Atlantic Southeast United Express Agreement |
• CRJ 200 - 14 |
• Terminates 2015
• Upon expiration, aircraft may be renewed or extended |
• Fuel
• Landing fees, Station Rents, Deice
• Insurance |
• Performance based incentives |
• Rate per block hour, per departure and per aircraft under contract | |||||
ExpressJet Delaware United Express Agreement |
• EMB 145 - 22 |
• Terminates 2015
• Upon expiration, aircraft may be renewed or extended |
• Fuel
• Landing fees, Station Rents, Deice
• Insurance |
• Performance based incentives |
• Rate per block hour, per departure and per aircraft under contract | |||||
ExpressJet Delaware United Express Agreement |
• EMB 135 - 9
• EMB 145 - 220 |
• The contract expires on an individual aircraft basis beginning in 2014
• The final aircraft expires in 2020
• The average remaining term of the aircraft under contract is 4.3 years
• Upon expiration, aircraft may be renewed or extended |
• Fuel
• Engine Maintenance
• Landing fees, Station Rents, Deice
• Insurance |
• Performance based incentives or penalties |
• Rate per block hour, per departure and per aircraft under contract | |||||
SkyWest Airlines United Express Prorate Agreement |
• CRJ200 - 17
• EMB 120 - 27 |
• Terminate with 120 days notice |
• None |
• None |
• Pro-rata sharing of the passenger fare revenue |
Agreement |
Number of aircraft under contract |
Term / Termination Dates |
Pass through costs or costs paid directly by major partner |
Incentive Structure | Payment Structure | |||||
---|---|---|---|---|---|---|---|---|---|---|
SkyWest Airlines US Airways Express Agreement |
• CRJ200 - 10
• CRJ900 - 4 |
• Terminates 2015
• Upon expiration, aircraft may be renewed or extended |
• Fuel
• Landing fees, Station Rents, Deice
• Insurance |
• Performance based incentives |
• Rate per block hour, per departure and per aircraft under contract | |||||
SkyWest Airlines US Airways Express Prorate Agreement |
• CRJ200 - 1 |
• Terminate with 120 days notice |
• None |
• None |
• Pro-rata sharing of the passenger fare revenue |
Agreement |
Number of aircraft under contract |
Term / Termination Dates |
Pass through costs or costs paid directly by major partner |
Incentive Structure | Payment Structure | |||||
---|---|---|---|---|---|---|---|---|---|---|
SkyWest Airlines American Capacity Purchase Agreement |
• CRJ200 - 12 |
• Terminate 2016
• Upon expiration, aircraft may be renewed or extended |
• Fuel
• Landing fees, Station Rents, Deice
• Insurance |
• Performance based incentives |
• Rate per block hour, per departure and per aircraft under contract | |||||
ExpressJet American Capacity Purchase Agreement |
• CRJ200 - 11 |
• Terminates 2017
• Upon expiration, aircraft may be renewed or extended |
• Fuel
• Landing fees, Station Rents, Deice
• Insurance |
• Performance based incentives |
• Rate per block hour, per departure and per aircraft under contract |
Agreement |
Number of aircraft under contract |
Term / Termination Dates |
Pass through costs or costs paid directly by major partner |
Incentive Structure | Payment Structure | |||||
---|---|---|---|---|---|---|---|---|---|---|
SkyWest Airlines Capacity Purchase Agreement |
• CRJ 700 - 7 |
• Terminates 2018
• Upon expiration, aircraft may be renewed or extended |
• Fuel
• Landing fees, Station Rents, Deice
• Insurance |
• Performance based incentives |
• Rate per block hour, per departure and per aircraft under contract |
Also, comprehensive income (loss) consisted of net income (loss) plus changes in unrealized appreciation (depreciation) on marketable securities and unrealized gain (loss) on foreign currency translation adjustment related to the Company's equity investment in Trip Linhas Aereas, a regional airline operating in Brazil ("Trip") and Mekong Aviation Joint Stock Company, an airline operating in Vietnam ("Air Mekong") (see note 8), net of tax, for the periods indicated (in thousands):
|
Year Ended December 31, | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
|
2013 | 2012 | 2011 | |||||||
Net Income (Loss) |
$ | 58,956 | 51,157 | $ | (27,335 | ) | ||||
Proportionate share of other companies foreign currency translation adjustment, net of tax |
66 | (251 | ) | (295 | ) | |||||
Unrealized appreciation (depreciation) on marketable securities, net of tax |
(13 | ) | 316 | 534 | ||||||
| | | | | | | | | | |
Comprehensive income (loss) |
$ | 59,009 | $ | 51,222 | $ | (27,096 | ) | |||
| | | | | | | | | | |
| | | | | | | | | | |
The calculation of the weighted average number of common shares outstanding for Basic EPS and Diluted EPS are as follows for the years ended December 31, 2013, 2012and 2011 (in thousands):
|
Year Ended December 31, | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
|
2013 | 2012 | 2011 | |||||||
Numerator: |
||||||||||
Net Income (Loss) |
$ | 58,956 | $ | 51,157 | $ | (27,335 | ) | |||
Denominator: |
||||||||||
Denominator for basic earnings per-share weighted average shares |
51,688 | 51,090 | 52,201 | |||||||
Dilution due to stock options and restricted stock |
734 | 656 | — | |||||||
| | | | | | | | | | |
Denominator for diluted earnings per-share weighted average shares |
52,422 | 51,746 | 52,201 | |||||||
Basic earnings (loss) per-share |
$ | 1.14 | $ | 1.00 | $ | (0.52 | ) | |||
Diluted earnings (loss) per-share |
$ | 1.12 | $ | 0.99 | $ | (0.52 | ) |