olivLaw · US equity research
SkyWest, Inc. SKYW
Air Transportation, Scheduled · SIC 4512 · Vertical: Air Transportation, Scheduled (SIC 4512)
SkyWest is the largest regional airline operator in the United States, flying under code-share agreements with United, Delta, American and Alaska, mostly through fixed-fee contracts. As major partners renew fleets and seek capacity, the company is expanding its E175 fleet, which could support long-term revenue growth if block hour production stays stable.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, SkyWest, Inc. (SKYW) stock was 82.41 USD (+6.06% on the day), with market capitalisation 3.1 bn USD, P/E 8.0 on diluted EPS of 10.33 USD over the last 12 months, dividend yield 0.17%, beta 1.38, 52-week range 77.70–115.94 USD. Latest reported quarter (Q3 2026): revenue of 1.1 bn USD (+6.4% YoY), net income of 119.5 m USD (+2.7% YoY), diluted EPS 3.08 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 35.4
- weak (30–45)
- Bollinger (20, 2)
- 80.35 – 102.96
- in the lower half of the band · %B 0.09 · band width 24.7%
- SMA 50 / 200
- 95.34 / 95.72
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -3.66 / -2.25
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −14.2% | −1.1% | −13.1 pp | — |
| 3 months | −28.9% | −0.5% | −28.5 pp | — |
| 6 months | −6.2% | +4.4% | −10.6 pp | — |
| Year to date | −17.9% | +12.3% | −30.2 pp | — |
| 1 year | −13.3% | +13.5% | −26.8 pp | +4.8% |
| 3 years | +85.1% | +76.4% | +8.7 pp | +57.5% |
| 5 years | +67.0% | +63.7% | +3.3 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 944.4 m | 948.5 m | 1.0 bn | 1.1 bn | 1.0 bn | 1.0 bn | 1.1 bn | 1.1 bn |
| Operating income | 144.1 m | 139.4 m | 170.1 m | 174.1 m | 134.2 m | 123.7 m | 155.8 m | 176.0 m |
| Depreciation & amortisation | 94.5 m | 89.4 m | 90.2 m | 92.5 m | 92.4 m | 90.2 m | 92.5 m | 76.3 m |
| Interest expense | 27.7 m | 27.1 m | 26.6 m | 25.6 m | 25.2 m | 24.5 m | 24.9 m | 24.6 m |
| Pre-tax income | 133.6 m | 120.7 m | 163.1 m | 157.2 m | 124.6 m | 107.8 m | 138.9 m | 159.5 m |
| Income tax | 36.2 m | 20.2 m | 42.8 m | 40.8 m | 33.4 m | 6.1 m | 38.2 m | 40.0 m |
| Net income | 97.4 m | 100.6 m | 120.3 m | 116.4 m | 91.2 m | 101.7 m | 100.7 m | 119.5 m |
| Diluted EPS | 2.34 ≈ | 2.42 | 2.91 | 2.81 | 2.21 ≈ | 2.50 | 2.54 | 3.08 |
| Operating cash flow | 185.9 m | 171.0 m | 257.1 m ≈ | 280.8 m ≈ | 231.5 m | 144.5 m | 291.9 m ≈ | 131.3 m ≈ |
| Capex | 23.2 m | 8.5 m | 139.5 m | 55.4 m | 7.2 m | 14.0 m | 8.0 m ≈ | 6.5 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 23 percentile of its own 22-quarter history (min 4.7, median 9.7, max 41.5; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3.2 bn | 3.0 bn | 2.1 bn | 2.7 bn | 3.0 bn | 2.9 bn | 3.5 bn | 4.1 bn |
| Revenue YoY | +3.2% | −7.8% | −28.4% | +27.6% | +10.7% | −2.3% | +20.2% | +15.0% |
| Net income | 280.4 m | 340.1 m | -8.5 m | 111.9 m | 73.0 m | 34.3 m | 323.0 m | 428.3 m |
| Net income YoY | −34.6% | +21.3% | −102.5% | unavailable | −34.8% | −52.9% | +840.4% | +32.6% |
| Diluted EPS | 5.30 | 6.62 | -0.17 | 2.20 | 1.44 | 0.77 | 7.77 | 10.35 |
| Diluted EPS YoY | −34.4% | +24.9% | −102.6% | unavailable | −34.5% | −46.5% | +909.1% | +33.2% |
| net % | 8.7% | 11.4% | -0.4% | 4.1% | 2.4% | 1.2% | 9.2% | 10.6% |
| Free cash flow | 768.1 m | 640.4 m | 620.9 m | 813.7 m | 467.3 m | 723.1 m | 647.6 m | 908.3 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 122.7 m USD
- Financial debt
- 2.4 bn USD
- Net debt
- 2.3 bn USD
- Equity
- 2.7 bn USD
- Total assets
- 7.4 bn USD
- Debt / equity
- 0.87x
- Current ratio
- 0.65x
- ROE
- 16.6%
- ROA
- 5.9%
- FCF margin
- 22.4%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 2.1 bn | 2.7 bn | 3.0 bn | 2.9 bn | 3.5 bn | 4.1 bn | SEC (XBRL)· 17 Feb 2026verified |
| Cost of revenue | 2.0 bn | — | — | — | — | — | SEC (XBRL)· 22 Feb 2021verified |
| Gross profit | 108.8 m ≈ | — | — | — | — | — | SEC (XBRL)· 22 Feb 2021derived |
| Operating income | 108.8 m | 275.9 m | 181.2 m | 104.1 m | 494.7 m | 617.8 m | SEC (XBRL)· 17 Feb 2026verified |
| Depreciation & amortisation | 475.0 m | 440.2 m | 394.6 m | 383.1 m | 383.9 m | 364.5 m | SEC (XBRL)· 17 Feb 2026verified |
| EBITDA | 583.8 m ≈ | 716.1 m ≈ | 575.7 m ≈ | 487.2 m ≈ | 878.5 m ≈ | 982.3 m ≈ | SEC (XBRL)· 17 Feb 2026derived |
| Interest expense | 123.2 m | 123.1 m | 127.1 m | 130.9 m | 114.3 m | 104.4 m | SEC (XBRL)· 17 Feb 2026verified |
| Pre-tax income | -7.3 m | 150.6 m | 92.6 m | 40.3 m | 432.1 m | 565.6 m | SEC (XBRL)· 17 Feb 2026verified |
| Income tax | 1.2 m | 38.7 m | 19.6 m | 6.0 m | 109.2 m | 137.3 m | SEC (XBRL)· 17 Feb 2026verified |
| Net income | -8.5 m | 111.9 m | 73.0 m | 34.3 m | 323.0 m | 428.3 m | SEC (XBRL)· 17 Feb 2026verified |
| Diluted EPS | -0.17 | 2.20 | 1.44 | 0.77 | 7.77 | 10.35 | SEC (XBRL)· 17 Feb 2026verified |
| Weighted average diluted shares | 50.2 m | 50.8 m | 50.6 m | 44.6 m | 41.5 m | 41.4 m | SEC (XBRL)· 17 Feb 2026verified |
| Dividend per share | 0.14 | — | — | — | — | — | SEC (XBRL)· 22 Feb 2021verified |
≈ computed by olivLaw from the reported lines of the same year: Revenue − Cost of revenue; Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 215.7 m | 258.4 m | 103.0 m | 148.3 m | 227.4 m | 122.7 m | SEC (XBRL)· 17 Feb 2026verified |
| Current assets | 982.8 m | 1.1 bn | 1.4 bn | 1.1 bn | 1.1 bn | 1.1 bn | SEC (XBRL)· 17 Feb 2026verified |
| Property, plant & equipment, net | 5.4 bn | 5.5 bn | 5.5 bn | 5.5 bn | 5.6 bn | 5.8 bn | SEC (XBRL)· 17 Feb 2026verified |
| Total assets | 6.9 bn | 7.1 bn | 7.4 bn | 7.0 bn | 7.1 bn | 7.4 bn | SEC (XBRL)· 17 Feb 2026verified |
| Accounts payable | 278.7 m | 496.3 m | 422.0 m | 470.3 m | 527.4 m | 633.6 m | SEC (XBRL)· 17 Feb 2026verified |
| Short-term debt | 402.2 m | 391.8 m | 438.5 m | 443.9 m | 535.6 m | 546.8 m | SEC (XBRL)· 17 Feb 2026verified |
| Long-term debt | 2.8 bn | 2.7 bn | 2.9 bn | 2.6 bn | 2.1 bn | 1.8 bn | SEC (XBRL)· 17 Feb 2026verified |
| Current liabilities | 941.7 m | 1.2 bn | 1.2 bn | 1.3 bn | 1.4 bn | 1.7 bn | SEC (XBRL)· 17 Feb 2026verified |
| Equity | 2.1 bn † | 2.3 bn † | 2.3 bn † | 2.1 bn † | 2.4 bn † | 2.7 bn † | SEC (XBRL)· 17 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 633.6 m | 831.8 m | 480.4 m | 736.3 m | 692.5 m | 940.4 m | SEC (XBRL)· 17 Feb 2026verified |
| Capex | 12.7 m | 18.1 m | 13.0 m | 13.3 m | 44.9 m | 32.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Free cash flow | 620.9 m ≈ | 813.7 m ≈ | 467.3 m ≈ | 723.1 m ≈ | 647.6 m ≈ | 908.3 m ≈ | SEC (XBRL)· 17 Feb 2026derived |
| Investing cash flow | -683.5 m | -698.5 m | -904.9 m | -23.2 m | -228.6 m | -651.8 m | SEC (XBRL)· 17 Feb 2026verified |
| Financing cash flow | 178.4 m | -90.6 m | 269.1 m | -667.8 m | -384.8 m | -393.2 m | SEC (XBRL)· 17 Feb 2026verified |
| Dividends paid | 13.1 m | — | — | — | — | — | SEC (XBRL)· 22 Feb 2021verified |
| Share repurchases | 20.0 m | — | — | — | — | — | SEC (XBRL)· 22 Feb 2021verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 75 / 100
A scoring methodology on indicators and valuation, not investment advice.
score >= 65 · margin_of_safety >= 0.15 · agreement in ['high', 'medium']
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 3.1 bn USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet41
- Growth94
- Valuation92
- Quality70
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 1.84 – 748.54 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)376.99 – 748.54 (Mid 505.02)WACC 7.3% · starting FCFF 840.6 m USD · terminal value share of EV 80%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: no growth between −30% and +40% justifies the price
- Peers: EV/EBITDA84.30 – 224.73 (Mid 134.12)8 companies used · median multiple 7.9x · quartiles 5.8x – 11.5xAAL, ALGT, ALK, CPA, DAL, LUV, RJET, UAL
- Peers: P/E104.45 – 327.81 (Mid 184.14)7 companies used · median multiple 17.8x · quartiles 10.1x – 31.7xALGT, CPA, DAL, LUV, RJET, RYAAY, UAL
- Dividend discount (DDM)1.84 – 2.47 (Mid 2.11)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Attractive profile · Score 75/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 9.1% | 44 (vs peers) | 12% |
| Net margin · Quality | 9.7% | 83 (vs peers) | 7% |
| FCF conversion · Quality | 184.8% | 100 (on a fixed band) | 7% |
| Revenue CAGR 3Y · Growth | 10.5% | 88 (on a fixed band) | 9% |
| EPS CAGR 3Y · Growth | 93.0% | 100 (on a fixed band) | 9% |
| Net debt / EBITDA · Balance sheet | 2.4x | 40 (vs peers) | 12% |
| Interest coverage · Balance sheet | 5.9x | 68 (on a fixed band) | 7% |
| Current ratio · Balance sheet | 0.6x | 0 (on a fixed band) | 5% |
| P/E (TTM) · Valuation | 8.0x | 100 (vs peers) | 12% |
| EV/EBITDA · Valuation | 5.8x | 78 (vs peers) | 12% |
| FCF yield · Valuation | 24.4% | 100 (on a fixed band) | 9% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet41/100 · 3/3 factors with a value
- Growth94/100 · 2/2 factors with a value
- Quality70/100 · 3/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation92/100 · 3/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
SKYWEST INC (SKYW). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 4.1 bn USD in 2025; YoY growth 15.0%; net margin 9.7%; ROE 15.1%; net debt/EBITDA 2.4x.
The estimated value range is 94.37–276.27 USD per share (median of 4 methods, agreement: medium); assumptions are illustrative. Against the central value of 159.13 USD, the price of 82.41 USD leaves a potential of 93.1% (value / price − 1) and a margin of safety of 48.2% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 75/100, methodological classification: attractive profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 9.7%
- FCF conversion: 184.8%
- Revenue CAGR 3Y: 10.5%
- EPS CAGR 3Y: 93.0%
- P/E (TTM): 8.0x
- EV/EBITDA: 5.8x
- FCF yield: 24.4%
- The price is below the estimated value range
What contradicts it
- Current ratio: 0.6x
Not assessed (insufficient data or a ratio without meaning): Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Air Transportation, Scheduled (SIC 4512) · same industry (4-digit SIC) · compared with 14 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| LTMLATAM Airlines Group S.A. | 27,436.0 bn | 19,289.5 | 141.1% | 10.2% | +11.2% | −1% / unavailable |
| RYAAYRyanair Holdings plc | 61.6 bn | 40.6 | — | — | +3.8% | −13% / +25% |
| DALDelta Air Lines, Inc. | 58.7 bn | 17.8 | 15.9% | 4.6% | +2.8% | +39% / +142% |
| UALUnited Airlines Holdings, Inc. | 37.6 bn | 10.6 | 22.3% | 5.5% | +3.5% | +14% / +194% |
| LUVSouthwest Airlines Co | 22.7 bn | 22.9 | 13.9% | 3.3% | +2.1% | +33% / +82% |
| AALAmerican Airlines Group Inc. | 9.0 bn | — | — | -0.8% | +0.8% | −3% / +10% |
| CPACopa Holdings, S.A. | 6.0 bn | 9.0 | 26.1% | 18.6% | +5.0% | +20% / +57% |
| ALKAlaska Air Group, Inc. | 4.5 bn | — | -4.6% | -1.2% | +21.3% | −7% / +6% |
| SKYWSkywest Inc | 3.1 bn | 8.0 | 15.1% | 9.7% | +15.0% | −13% / +85% |
| ALGTAllegiant Travel Co | 2.2 bn | 56.7 | 1.8% | 0.9% | +3.7% | +7% / +19% |
| ULCCFrontier Group Holdings, Inc. | 1.6 bn | — | -175.4% | -8.9% | −1.4% | +55% / +81% |
| JBLUJetblue Airways Corp | 1.3 bn | — | -55.4% | -10.0% | −2.3% | −22% / −19% |
| RJETRepublic Airways Holdings Inc. | 958.4 m | 9.6 | 7.5% | 4.6% | +13.7% | +2% / +90% |
| FJETStarfighters Space, Inc. | 46.8 m | — | -94.2% | — | unavailable | unavailable / unavailable |
| AZULAzul SA | — | — | — | 0.6% | +10.8% | unavailable / unavailable |
1- and 3-year price returns: for SKYW from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 54.33 Total return -34% · Per year -34% | 95.78 Total return 16% · Per year 16% | 143.92 Total return 75% · Per year 75% |
| 3 years | 59.32 Total return -28% · Per year -10% | 117.03 Total return 42% · Per year 12% | 192.10 Total return 133% · Per year 33% |
| 5 years | 64.76 Total return -21% · Per year -5% | 142.98 Total return 74% · Per year 12% | 256.43 Total return 211% · Per year 25% |
- Exit P/E± 29.26
- Net margin± 20.48
- Annual revenue growth± 15.89
- Annual dilution± 1.72
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 24 Jul 2026; since then the company filed 10-Q (30 Oct 2026), 8-K (29 Oct 2026 · results).
In brief
SkyWest is the largest regional airline operator in the United States, flying under code-share agreements with United, Delta, American and Alaska, mostly through fixed-fee contracts. As major partners renew fleets and seek capacity, the company is expanding its E175 fleet, which could support long-term revenue growth if block hour production stays stable 13.
SWOT
Strengths
Weaknesses
Opportunities
Risks
- Dependence on major partnershigh
Most flying runs under agreements with a few companies, and a partner cutting schedules could significantly affect revenue.
- Pilot shortagehigh
If attrition returns, the company could be forced to reduce flight schedules, which could bring contractual penalties.
- Cyber incidentsmedium
The company no longer carries cybersecurity insurance, and an incident could affect operations and reputation.
- Fuel prices on prorate routesmedium
On prorate routes the company bears fuel costs, which could reduce profit if prices rise.
- Supplier delayslow
Delays in parts delivery or outsourced maintenance could slow the return of stored aircraft to service.
Investment thesis
What would need to be true (bull case)
- Long-term contracts and the E175 fleet renewal could support revenue and cash flow growth in the coming years 13.
- Leadership in regional flying and the ability to finance new aircraft give an edge over smaller competitors 1.
- The recently expanded repurchase program signals management's confidence in cash generation 3.
What to watch
- Block hour production and quarterly revenue trendQ3 2026
- E175 deliveries to United, Delta and American2026
- Pilot attrition levels and effect on schedulesnext 10-K
- Prorate fuel costs and quarterly marginQ3 2026
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 24 Jul 2026; since then the company filed 10-Q (30 Oct 2026), 8-K (29 Oct 2026 · results).
The business
Through its operating subsidiary SkyWest Airlines, the company offers scheduled passenger service to destinations in the United States, Canada and Mexico, with nearly all flights operated under partner brands such as United Express or Delta Connection 1. Revenue comes mainly from capacity purchase agreements, in which the partner pays a fixed fee per flight and block hour, so passenger fare and fuel volatility are largely borne by the partner 1. The fleet includes Embraer E175 and Bombardier CRJ aircraft, and SkyWest Leasing finances new aircraft and leases them to third parties 1.
Segments
Capacity purchase agreements
These agreements make up most revenue, about 84.3% of flying agreements revenue in 2025, paid by major partners per flight, block hour and aircraft in service 1.
Prorate agreements and SkyWest Charter
Under prorate agreements the company receives a share of ticket fares and bears fuel costs, so results can vary more; prorate and charter revenue rose 33.5% in 2025, and in Q2 2026 higher prorate fuel costs weighed on profit 13.
SkyWest Leasing
This segment finances new aircraft, mainly E175s, and leases aircraft and engines to third parties, linking the fleet to leasing revenue 1.
Market context
The US regional airline market is dominated by SkyWest and a few subsidiaries of major airlines, and demand depends on partners' flight plans 1. By the end of June 2026 the company operated about 2510 daily departures with 642 aircraft in its fleet, showing the scale of its operation 2.
Quarterly revenue reached about 1.1 billion dollars in Q2 2026 and net income was 101 million dollars 3. These figures suggest demand remains solid, although margins can be hit by fuel costs.
Trends
- E175 fleet renewaltailwind
The company is replacing older aircraft with new E175s to lower maintenance costs and raise fleet utilization, which could improve long-term profitability 13.
- Fuel costs on prorate routesheadwind
Rising fuel prices hit prorate flying directly, since the company bears that cost, which weighed on profit in Q2 2026 3.
- Pilot shortagemixed
Captain availability limited flying in earlier years, but lower attrition in 2024 and 2025 allowed full schedules, with the risk that future attrition could constrain capacity again 1.
- Dependence on a few partnersmixed
Concentration on United, Delta, American and Alaska brings predictability through long-term contracts, but exposes the company to schedule cuts if a partner reduces flying for cost reasons 1.
Competitive position
The company competes mainly with other regional carriers such as CommuteAir, Endeavor Air, Envoy, PSA, Piedmont, Horizon, GoJet and Republic, and contract awards depend on schedule reliability, pilot availability and operating cost 1. Regional subsidiaries of major airlines may have access to greater resources through their parent companies 1.
Capacity agreements are awarded on operational performance, cost and the carrier's image, and scope limits can restrict which aircraft types partners may use 1. These rules make competition for contracts more about trust than price.
- Endeavor Air
Delta-owned carrier operating as Delta Connection, with resources of its parent company 1.
- Envoy Air
American-owned carrier competing for regional flying within the American network 1.
- Horizon Air
Alaska Air Group subsidiary competing directly on the Alaska network 1.
- Republic Airways
Independent regional carrier competing for the same major-partner contracts 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Quarterly report30 Oct 2026
- Current report29 Oct 2026Results of operations · Financial statements and exhibits
- Quarterly report24 Jul 2026
- Current report23 Jul 2026Results of operations · Other events · Financial statements and exhibits
- Current report07 May 2026Shareholder vote
- Quarterly report24 Apr 2026
- Current report23 Apr 2026Results of operations · Financial statements and exhibits
- Proxy statement25 Mar 2026
- Annual report17 Feb 2026
- Current report29 Jan 2026Results of operations · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / SkyWest, Inc. · 17 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / SkyWest, Inc. · 24 Jul 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / SkyWest, Inc. · 23 Jul 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.