Apex Trader Funding - News
Here's Why You Should Retain SkyWest Stock Now
SkyWest's (NASDAQ: SKYW) top line is boosted by an uptick in air travel demand. The company's proactive measures to expand and upgrade its fleet are commendable. Shareholder-friendly actions also bode well for SkyWest. However, high operating expenses are a major headwind.
Factors Favoring SKYW
SKYW is being well-served by the increase in flight volume and passenger loads, which is boosting charter revenues. Currently, SkyWest operates 16 aircraft at SkyWest Charter or SWC and anticipates robust expansion in on-demand charters through sports teams and various corporate opportunities, which are expected to boost the company's top line.
In the second quarter of 2024, pro-rate and charter revenues reached $107 million, reflecting a 6% increase from the first quarter of 2024 and a 30% rise from the second quarter of 2023, driven by higher flight volume and passenger loads.
SkyWest's fleet modernization and expansion efforts are commendable. In the second quarter of 2024, the company launched its first CRJ550 and Delta prorate operation. It received eight of the 20 United Finance E175s during the quarter and plans to continue enhancing its partnerships and increasing its regional market share.
By the end of ...