SKYW - XJT earnings

[Newpilot2b]

Mickey your a bigot. Leave religion out of it.

 

[pilotnbr1]

Forgive me. Allow me to draw a better analogy. The faucet has been leaking for years, but its not leaking as much these days.

Still not accurate... Asa was VERY profitable for many years- it has only been in the last few years we started to lose money. Yes there is waste as there is everywhere (Skywest included) ie your "leaking faucet". Well over half of ExpressJet is enjoying the best labor contracts (pilots, mechanics, fas) AND Delta is putting the screws on the CRJ side with rate resets (pretty hard to compete with the likes of GoJets and Pinnacle) .

Maybe a more accurate analogy would be that we are in a race and someone popped our tires. You can still floor it but we aren't going to win even with the best engine and driver.

 

[fastback]

The link to the transcript of the earnings call can be found here.

You can read it for yourself. But here are a few nuggets for you:



Also, in this transcript you will notice that the company sold all of its stake in Air Mekong which was recorded as a $5M profit on top of SkyWest's $18.75M. They went on to say that they have received payments from TRIP which were relfected in the overall profit but that the amount of those payments can not be discussed until the final payment has been received, which will happen in the third quarter of 2014.

Thanks, but still not seeing actual numbers showing Express losing money. Certainly not losing money like a "stuck" pig.

 

[XPOO]

Thanks, but still not seeing actual numbers showing Express losing money. Certainly not losing money like a "stuck" pig.

I couldn't care less, but if you are truly interested to find out just how much money ExpressJet lost, all you have to do is wait for the 10-Q filing due out by the end of the week. You'll find anything and everything you want to know in that document. Nevets can help you find it, he reads it all the time.

 

[Freebrd]

Couldnt care less! Thats rich. You're always the first to post earnings every quarter and flame the Xjt side. So, you're basically admitting you're nothing but a flame bait turd when your're between eBay viewing and maybe dispatching flights. Got it.

ps any relation to Jenny Leigh?

 

[Nevets]

Bottom line, Skywest pilots, shut the fk up and get in line. XJT is running the show now. We are not a part of your stupid student council- in-house sissy party. We don't care how much you love being dominated and subjugated. We don't play like that. Call it East Coast, Call it West Coast. Call that TA dead on arrival. The combined XJT pilot group is the majority economic engine behind Skywest Incorporated. If you want to live in the land of make believe and think that your little 30% pilot group drives the prosperity, then you are woefully mistaken. Keep dreaming your Joseph Smith dreams and wearing your special under garments, and we'll keep demanding a working man's wage appropriate for the work.

I think it's you who needs to STFU. Hopefully I missed the sarcasm. But let's be clear. SGU runs the show at both airlines. Neither pilot group runs anything. We all just show up to work and do our jobs safely in order to go home after our trips. No one is better than anyone else in that respect. Which side being profitable is solely management's responsibility.

No, that isn't what he said. He said that XJT made a small operational profit, which isn't the same as, you know, actual profit.

The rest is interest expense, which only SGU controls.

The Skywest Airlines contracts with mainline partners is structured differently from the agreements of ExpressJet. Each has different financial incentives and penalties.

To compare one group to another by strictly looking at profits is a huge uninformed generalization...

Skywest Airlines is reaping the rewards of great contracts they negotiated with their partners. For the previous quarter their pro-rate flying did particularly well. Thus their management can afford to properly compensate their pilot group, adequately staff, hire talented leadership, and otherwise financially motivate their work force.

The Expressjet CRJ side lost much of their profit margin with the last rate reset and will have another rate reset coming when they once again have to provide the second lowest Delta lift. I cannot speak for the ERJ, but I do know the ERJ pilots, FAs, and mechanics have superior contracts, which are being targeted by management as low hanging fruit. Both sides of the Expressjet operation are hitched to the same operational and management wagon. All sides of the Expressjet operation are going to continue to be squeezed for profitability.

In my opinion the Expressjet Crj side has more of an income problem rather than a cost problem.

A specific number was not put on the Expressjet loss and the loss was made to sound marginal. To post that Expressjet "is losing money like a stuck pig" is inflammatory, spiteful, and inaccurate.

Keep in mind that all the different contracts that XJT has with their mainline partners were ALL negotiated by the same people that negotiated Skywest's great contracts. This is not a labor problem whatsoever!

 

[Mickey Mouse]

Nevets, you're so gay

 

[Mickey Mouse]

SKYW Inc. is actually very upset with the XJT management team for unsuccessfully bringing about an expeditious resolution to the Joint contract. The St George group is also very disappointed that the XJT management team was unable to circumvent more work rules in order to increase the bottom line. I have obtained a video of the board meeting, which followed the financial results announcement from last quarter. You can clearly see all the major players from SKYW inc., and how they deal with such substandard performance.

http://www.youtube.com/watch?v=qdFLPn30dvQ

 

[Freebrd]

Mickey could you point out Xpoo in that video as she's probally low level management. :beer:

 

[Nevets]

According to the Q for the 3 months ended 9/30/13 Skywest had an operational profit of $59,197,000 and XJT had an operational loss of $834,000. And for the 9 months ended 9/30/13, Skywest had an operational profit of $147,927,000 and XJT had an operational loss of $19,672,000.

As a comparison, for the 3 months ended 9/30/12 Skywest had an operational profit of $49,151,000 and XJT had an operational profit of $4,292,000. And for the 9 months ended 9/30/12, Skywest had an operational profit of $122,794,000 and XJT had an operational profit of $5,174,000.