SkyWest posts full year 2016 net loss of US$162m

SkyWest reported financial and operating results for the fourth quarter of 2016, including a net loss of US$270m, compared to net income of US$41m for Q4 2015. Adjusted net income for Q4 2016 was US$29m, compared to adjusted net income of US$25m for Q4 2015. The adjusted results for Q4 2016 exclude (pre-tax) a US$466m non-cash impairment charge and US$7m of early lease return charges, both previously announced. The improvement in adjusted net incom was primarily due to SkyWest’s continued execution on its ongoing fleet transition and strong operating performance. Net loss for the 2016 year was US$162m, compared to net income of US$118m for the 2015 year. Adjusted net income was US$143m for the 2016 year, compared to adjusted net income of US$103m for the 2015 year.