SkyWest Reports 19.4% Revenue Growth to $1.035 Billion in Latest Quarter

SkyWest, Inc. reported significant financial growth in its latest quarterly results, with total operating revenues reaching $1.035 billion for the three months ended June 30, 2025, marking a 19.4% increase from $867.1 million in the same period last year. The company’s net income also saw a substantial rise, climbing to $120.3 million, or $2.91 per diluted share, compared to $75.6 million, or $1.82 per diluted share, in the prior year. For the first half of 2025, total operating revenues increased by 18.7% to $1.984 billion, up from $1.671 billion in the first half of 2024, while net income for the period was $220.8 million, or $5.32 per diluted share, compared to $135.9 million, or $3.28 per diluted share, in the previous year.

The company attributed its revenue growth to an increase in the number of aircraft in scheduled service, which rose from 475 to 502 year-over-year, and a corresponding increase in block hours flown, which increased by 18.5% to 376,269 hours in the second quarter. The capacity purchase agreements, which accounted for approximately 85.5% of the company’s flying agreements revenue, saw a revenue increase of $111 million, or 15.2%, primarily due to higher completed block hours. Additionally, revenue from prorate agreements and SkyWest Charter (SWC) increased by 35.8%, reflecting a rise in passenger numbers and flight operations.

Operationally, SkyWest Airlines and SWC reported a segment profit of $90.3 million for the second quarter, a significant increase from $32.0 million in the same quarter of 2024. The increase in operational efficiency was supported by a higher number of available captains, which allowed for improved aircraft utilization. The total number of departures also increased by 17.7% to 222,874, and the number of passengers carried rose by 13.1% to over 12 million.

On the balance sheet, SkyWest's total assets increased slightly to $7.174 billion as of June 30, 2025, compared to $7.140 billion at the end of 2024. The company’s cash and cash equivalents decreased significantly to $48.3 million from $227.4 million, while marketable securities rose to $678.7 million from $574.3 million. The company’s long-term debt decreased to $2.5 billion, down from $2.7 billion, reflecting a reduction in outstanding debt obligations. Looking ahead, SkyWest plans to continue expanding its fleet, with commitments for 74 new E175 aircraft and additional used CRJ900 airframes, which are expected to enhance operational capacity and profitability.