SkyWest to Receive $250 million through Payroll Support Program 3 Under the American Rescue Plan Act of 2021
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ST. GEORGE, Utah, April 23, 2021 /PRNewswire/ SkyWest, Inc. (NASDAQ: SKYW) ( SkyWest ) today announced that its wholly-owned subsidiary SkyWest Airlines has entered into a Payroll Support Program 3 Agreement with the U.S. Treasury Department to receive a total of approximately $250 million under the American Rescue Plan Act of 2021. SkyWest received half of the $250 million on April 23, 2021 and expects to receive the remaining funding during the second quarter of 2021. In consideration for the funding, approximately $45 million will be in the form of a ten-year, low interest unsecured term loan, and SkyWest will issue to the U.S. Treasury Department ( Treasury ) warrants to purchase approximately 78,317 shares of SkyWest common stock at a strike price of $57.47.
Alaska Air (ALK) Q1 Loss Narrower than Expected, Revenues Beat Zacks.com 8 hrs ago
Alaska Air Group ALK, the parent company of Alaska Airlines, incurred a loss (excluding $2.46 from non-recurring items) of $3.51 per share, narrower than the Zacks Consensus Estimate of a loss of $3.71. In the year-ago quarter, the company incurred a loss of 82 cents. Results were hurt by significant decline in passenger revenues as coronavirus keeps air-travel demand suppressed.
Revenues at Alaska Air came in at $797 million, surpassing the Zacks Consensus Estimate of $787.1 million. The top line, however, declined 51.3% year over year. Passenger revenues contributing 82.7% to the top line were down 56% year over year to $659 million due to weak travel demand.
Flying in the face of the law: United Airlines seems to be violating the spirit of the CARES Act nydailynews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nydailynews.com Daily Mail and Mail on Sunday newspapers.
2 Airline Stocks to Buy for a Post Coronavirus Rebound
SKYW – The aviation sector has been recovering gradually from COVID-19-pandemic-led business disruption thanks to accelerated mass vaccinations and rising consumer spending. With increasing demand for leisure travel, SkyWest (SKYW) and Mesa Air Group (MESA) are expected to generate big returns in the near- to mid-term. Let’s look closer.
Apr 7, 2021
The airline industry suffered a severe blow last year as air travel practically came to a halt at the beginning of the COVID-19 pandemic. However, thanks to an accelerating pace of vaccinations and $1,400 federal recovery checks that have been disbursed to countless U.S. households, the demand for leisure travel is on the rise.
Hawaiian Holdings Reports 2020 Fourth Quarter and Full Year Financial Results
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HONOLULU, Jan. 26, 2021 /PRNewswire/ Hawaiian Holdings, Inc. (NASDAQ: HA) (the Company ), parent company of Hawaiian Airlines, Inc. ( Hawaiian ), today reported its financial results for the fourth quarter and full year 2020.
Fourth Quarter 2020 - Key Financial Metrics
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(97.7) pts. While 2020 has been the most challenging year the airline industry has experienced, we are encouraged that the re-opening of Hawai i to tourism through the State s pre-travel testing program and Hawaiian s successful testing partnerships have allowed us to begin the journey to recovery said Peter Ingram, Hawaiian Airlines President and CEO. My colleagues inspire me every day with their resolve to persevere and emerge from the pandemic strongly as they navigate through challenges and create innovative solutions to position Hawaiian for long-term succ