SkyWest Airlines 2008 Annual Report Download - page 35

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On March 24, 2008, Delta also filed a Motion to Dismiss the Complaint. A hearing on the Motion
was held June 5, 2008. In an order entered June 13, 2008, the Court granted in part and denied in part
the Motion to Dismiss. The Court denied the Motion to Dismiss with respect to the breach of contract
claim contained in the Complaint. The Court denied in part the Motion to Dismiss with respect to the
action for declaratory judgment contained in the Complaint, and granted in part the Motion to Dismiss
to the extent the Complaint seeks to read alternative or supplemental obligations created by prior
conduct into the Connection Agreements. The Court granted the Motion to Dismiss with respect to
claims for estoppel, unilateral mistake, and mutual mistake contained in the Complaint. SkyWest
Airlines and ASA currently intend to vigorously pursue their claims set forth in the Complaint, to the
extent permitted by the Court’s ruling on the Motion to Dismiss, and their defenses to Delta’s
counterclaims.
We have evaluated the Delta dispute in accordance with the provisions of Statement of Financial
Accounting Standard (‘‘SFAS No.5’’), Accounting for Contingencies. Based on the provisions of SFAS
No. 5, an estimated loss is accrued if the loss is probable and reasonably estimable. Because these
conditions have not been satisfied, we have not recorded a loss in our condensed consolidated financial
statements as of December 31, 2008.
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
No matters were submitted to a vote of security holders during the fourth quarter of the year
ended December 31, 2008.
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