SkyWest Airlines 2009 Annual Report Download - page 33

reserved for issuance, both of which may dilute the ownership interest of our shareholders. Our
Restated Articles also authorize the issuance of up to 5,000,000 shares of preferred stock. Our board of
directors has the authority to issue preferred stock with the rights and preferences, and at the price,
which it determines. Any shares of preferred stock issued would likely be senior to shares of our
common stock in various regards, including dividends, payments upon liquidation and voting. The value
of our common stock could be negatively affected by the issuance of any shares of preferred stock.
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, 2009, our fleet consisted of the following types of owned and leased 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 ............. 84 166 50 1,500 530 8.3
CRJ700s ............. 61 56 70 1,600 530 4.8
CRJ900s ............. 11 20 90 1,500 530 2.1
Brasilia Turboprops ..... 9 42 30 300 300 12.5
SkyWest Airlines has firm orders to acquire four new CRJ700s. In addition, gross committed
expenditures for these four aircraft and related equipment, including estimated amounts for contractual
price escalations will be approximately $98.0 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
composition of our combined fleet following the receipt of these aircraft. The projected fleet size
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