SkyWest Airlines 2008 Annual Report Download - page 31

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The amount of dividends we pay may decrease or we may not pay dividends.
Historically, we have paid dividends in varying amounts on our common stock. The future payment
and amount of cash dividends will depend upon our financial condition and results of operations, loan
covenants and other factors deemed relevant by our board of directors. There can be no assurance that
we will continue our practice of paying dividends on our common stock or that we will have the
financial resources to pay such dividends.
Provisions of our charter documents and code-share agreements may limit the ability or desire of others to
gain control of our company.
Our ability to issue preferred and common shares without shareholder approval may have the
effect of delaying or preventing a change in control and may adversely affect the voting and other
rights of the holders of our common stock, even in circumstances where such a change in control would
be viewed as desirable by most investors. The provisions of the Utah Control Shares Acquisitions Act
may also discourage the acquisition of a significant interest in or control of our company. Additionally,
our code-share agreements contain termination and extension trigger provisions related to change in
control type transactions that may have the effect of deterring a change in control of our company.
ITEM 1B. UNRESOLVED STAFF COMMENTS
None
ITEM 2. PROPERTIES
Flight Equipment
As of December 31, 2008, we owned or leased a fleet of aircraft, consisting of the following types
of aircraft:
Number of Number of Passenger Scheduled Flight Average Cruising Average Age
Aircraft Type Owned Aircraft Leased Aircraft Capacity Range (miles) Speed (mph) (years)
CRJ200s ........... 86 164 50 1,500 530 7.3
CRJ700s ........... 48 56 70 1,600 530 4.4
CRJ900s ........... 10 10 90 1,500 530 1.8
Brasilia Turboprops . . . 11 45 30 300 300 11.7
ATR-72 Turboprops(1) . — 12 66 300 300 15.2
(1) As of December 31, 2008, the 12 ATR-72 turboprops were no longer in revenue service, and ASA
expects to return the aircraft to the lessor by February 28, 2009.
SkyWest Airlines has firm orders to acquire 18 new CRJ700s and one new CRJ900. On January 9,
2009, we announced that ASA has reached an agreement with Delta to operate an additional ten
CRJ900 regional jet aircraft. The aircraft were previously ordered by Delta and are now being
contracted for flying with ASA. ASA expects to take delivery of these aircraft between February and
May 2009. The aircraft will serve as replacements for 20 CRJ200s that are scheduled for removal from
contract service between April 2010 and August 2010, which is earlier than the existing scheduled
termination dates as contained in the Delta Connection Agreement. In addition, gross committed
expenditures for these 29 aircraft and related equipment, including estimated amounts for contractual
price escalations will be approximately $459.7 million through the first quarter of 2010. SkyWest
Airlines and ASA have also obtained combined options for another 22 Bombardier Regional Jets that
can be delivered in either 70 or 90-seat configurations.
The following table outlines the number of Bombardier Regional Jets that SkyWest Airlines and
ASA are scheduled to receive during each of the periods set forth below and the expected size and
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