Live Breaking News & Updates on Payroll Support Program Extension Agreement

SkyWest to Receive $233 million through a Payroll Support Program Extension Under 2021 Appropriations Act
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ST. GEORGE, Utah, Jan. 15, 2021 /PRNewswire/ SkyWest, Inc. (NASDAQ: SKYW) ( SkyWest ) today announced that its wholly-owned subsidiary SkyWest Airlines has entered into a Payroll Support Program Extension Agreement with the U.S. Treasury Department to receive a total of approximately $233 million under the Consolidated Appropriations Act of 2021. SkyWest received half of the $233 million today and expects to receive the second half in February 2021. In consideration for the funding, approximately $40 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 warrants to purchase approximately 98,815 shares of SkyWest common stock at a strike price of $40.41. ....

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