SkyWest, Inc. Files Registration Statement With Securities and Exchange Commissiontitle
ST. GEORGE, Utah, Nov. 18 /PRNewswire-FirstCall/ -- SkyWest, Inc.
("SkyWest") (Nasdaq: SKYW) today announced the filing of a registration
statement with the Securities and Exchange Commission for a proposed offering
of 4,000,000 shares of Common Stock by SkyWest. The registration statement
includes an underwriters overallotment option to purchase from SkyWest an
additional 600,000 shares. Merrill Lynch & Co. is the sole bookrunning
manager for the proposed offering, and Raymond James & Associates, Inc. is
acting as a co-manager.
A registration statement relating to these securities has been filed with
the Securities and Exchange Commission but has not yet become effective.
These securities may not be sold nor may offers to buy be accepted prior to
the time the registration statement becomes effective. This news release
shall not constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sale of these securities in any state in which such
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such state.
A copy of the final prospectus for the offering can be obtained from the
offices of either:
Merrill Lynch, Pierce, Fenner & Smith Incorporated
4 World Financial Center, North Tower
New York, NY 10080
or
Raymond James & Associates, Inc.
880 Carillon Parkway
St. Petersburg, FL 33716
Any offering will be made only by means of a final prospectus. This press
release shall not constitute an offer to sell or the solicitation of an offer
to buy, nor shall there be any sale in any state in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state.
SkyWest, Inc., is a holding company that operates two independent
subsidiaries, SkyWest Airlines, based in St. George, Utah, and Atlantic
Southeast Airlines ("ASA"), based in Atlanta, Georgia. SkyWest Airlines
operates as United Express and Delta Connection carriers under contractual
agreements with United Air Lines and Delta Air Lines. ASA operates as a Delta
Connection carrier under a contractual agreement with Delta Air Lines.
System-wide, SkyWest, Inc. serves 212 cities in the United States, Canada,
Mexico and the Caribbean, with over 2,400 daily departures. This press
release and additional information regarding SkyWest, Inc. can be accessed at
http://www.skywest.com.
In addition to historical information, this release contains
forward-looking statements. "SkyWest" may, from time-to-time, make written or
oral forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. Such statements encompass SkyWests beliefs,
expectations, hopes or intentions regarding future events. Words such as
"expects," "intends," "believes," "anticipates," "should," "likely" and
similar expressions identify forward-looking statements. All forward-looking
statements included in this release are made as of the date hereof and are
based on information available to SkyWest as of such date. SkyWest assumes no
obligation to update any forward-looking statement. Actual results will vary,
and may vary materially, from those anticipated, estimated, projected or
expected for a number of reasons, including, among others: Deltas bankruptcy
proceedings; the failure to integrate the operations and employees of SkyWest
and ASA and achieve the anticipated synergies as a result of the acquisition;
the failure to successfully operate as anticipated under the terms of the
Delta Connection Agreements; the impact of negotiations with ASAs organized
labor forces and the impact of the costs of such labor forces on SkyWests
operations and financial condition; the failure to accurately forecast
acquisition-related costs; and the challenges of competing successfully in a
highly competitive and rapidly changing industry. Other factors that may
cause actual results to vary from SkyWests expectations include developments
associated with fluctuations in the economy and the demand for air travel;
bankruptcy proceedings involving United; ongoing negotiations between SkyWest
and its major partners regarding their contractual relationships; variations
in market and economic conditions; employee relations and labor costs; rapidly
escalating fuel costs; the degree and nature of competition; potential fuel
shortages in markets where SkyWest Airlines or ASA operate; the impact of
weather-related or other natural disasters on air travel and airline costs;
the ability of SkyWest Airlines and ASA to expand services in new and existing
markets and to maintain profit margins in the face of pricing pressures;
aircraft deliveries; SkyWests ability to obtain financing; and other
unanticipated factors. Risk factors, cautionary statements and other
conditions which could cause actual results to differ from managements
current expectations are contained in SkyWests filings with the Securities
and Exchange Commission, including the section of SkyWests Annual Report on
form 10-K, entitled "Factors That May Affect Future Results."
