SkyWest, Inc.
inc.skywest.comWhat Do They Do?
Operates scheduled regional passenger flights for major airlines, offers on-demand charter flights, and leases regional aircraft to other operators.
10-K for FY2025, filed Feb 17, 2026Through SkyWest Airlines, our primary operating entity, we offer scheduled passenger service to destinations in the United States, Canada…View ↗
SkyWest Leasing is a reportable segment that includes revenue associated with our financing of new aircraft with debt under our capacity…View ↗
In 2022, we formed a new subsidiary, SWC, which began operations in 2023. SWC offers on-demand charter service using CRJ200 aircraft in a…View ↗
How Do They Make Money?
Major airline partners pay fixed fees for departures and flight time, monthly aircraft payments and performance incentives; they also pay or reimburse certain operating costs. On prorate routes, SkyWest shares ticket fares with its airline partners, while charter customers pay a negotiated fare when a flight is completed.
$4.1B
-
10-K for FY2025, filed Feb 17, 2026
$4.1B ↗
| Segment | Share | Revenue |
|---|---|---|
|
Flying agreements
|
96%
FY2022: 97%
|
Flying agreements, FY2025
$3.9B Sources
|
|
Lease, airport services and other
|
4.3%
FY2022: 3.5%
|
Lease, airport services and other, FY2025
$173M Sources
|
Who Are Their Customers?
United, Delta, American and Alaska contract directly for regional flying; they handle passenger booking and ticketing. Charter customers arrange on-demand flights, and third parties lease aircraft.
10-K for FY2025, filed Feb 17, 2026We generally provide regional flying to our major airline partners under long-term, fixed-fee, code-share agreements. Under these fixed-fee…View ↗
Regional airlines generally enter into code-share agreements with major airlines, pursuant to which the regional airline is authorized to…View ↗
In 2022, we formed a new subsidiary, SWC, which began operations in 2023. SWC offers on-demand charter service using CRJ200 aircraft in a…View ↗
As of December 31, 2025, SkyWest Leasing leased 40 CRJ700 aircraft, five CRJ900 aircraft and regional jet aircraft engines to third parties.View ↗
Do Revenues Turn Into Profits?
Yes. It kept 11 cents of every revenue dollar as net income in FY2025 and turned 22 cents into free cash flow.
10-K for FY2025, filed Feb 17, 2026
$617.8MView ↗
10-K for FY2025, filed Feb 17, 2026
$428.3MView ↗
10-K for FY2025, filed Feb 17, 2026
$908.3MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Jul 24, 2026
$100.7MView ↗
- ▼ −16%
- vs $120.3M in Q2 FY2025
10-Q for Q2 FY2026, filed Jul 24, 2026
Open tableView ↗
Growing. Revenue grew 50% in 4 years, from $2.7B in FY2021 to $4.1B in FY2025, about 11% a year.
Added charter service
The older description centers on scheduled passenger service under code-share arrangements; the latest also describes on-demand charter flights through a separate subsidiary.
10-K for FY2022, filed Feb 16, 2023 10-K for FY2025, filed Feb 17, 2026Through SkyWest Airlines, we offer scheduled passenger service to destinations in the United States, Canada and Mexico. Substantially all…View ↗
In 2022, we formed a new subsidiary, SWC, which began operations in 2023. SWC offers on-demand charter service using CRJ200 aircraft in a…View ↗
Who Do They Compete With?
Competes with CommuteAir, Endeavor, Envoy, PSA, Piedmont, Horizon, GoJet, and Republic
10-K for FY2025, filed Feb 17, 2026The airline industry is highly competitive. We compete principally with other regional airlines. Our operations extend throughout most…View ↗
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