UPDATE 1-Regional carrier SkyWest profit edges higher - News

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UPDATE 1-Regional carrier SkyWest profit edges higher

By: AFX | 05 Nov 2009 | 07:50 AM ET

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NEW YORK, Nov 5 (Reuters) - Regional airline SkyWest Inc posted higher third-quarter earnings on Thursday helped by a 34 percent drop in expenses as fuel costs fell. The airline's net income rose 9.2 percent to $28.6 million, or 50 cents per share, from $26.2 million, or 45 cents per share, a year earlier. Quarterly revenue slumped 32 percent to $637.8 million. The airline, whose jets fly for Delta Air Lines and UAL Corp's United, pinned the drop in revenue to lower reimbursements for fuel costs paid by the major airlines. SkyWest includes fuel reimbursements as part of its operating revenue. (Reporting by Deepa Seetharaman; Editing by Derek Caney) Keywords: SKYWEST (deepa.seetharaman@thomsonreuters.com; +1 646 223-6125; Reuters Messaging: deepa.seetharaman.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

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