SkyWest Airlines 2010 Annual Report Download - page 87
Download and view the complete annual report
Please find page 87 of the 2010 SkyWest Airlines annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77 -
78 -
79 -
80 -
81 -
82 -
83 -
84 -
85 -
86 -
87 -
88 -
89 -
90 -
91 -
92 -
93 -
94 -
95 -
96 -
97 -
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
 |
 |
SKYWEST, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
DECEMBER 31, 2010
(3) Long-term Debt
Long-term debt consisted of the following as of December 31, 2010 and 2009 (in thousands):
December 31, December 31,
2010 2009
Notes payable to banks, due in semi-annual installments, variable interest
based on LIBOR, or with interest rates ranging from 1.10% to 3.81%
through 2012 to 2020, secured by aircraft ........................ $ 418,109 $ 469,663
Notes payable to a financing company, due in semi-annual installments,
variable interest based on LIBOR, or with interest rates ranging from
0.74% to 7.52% through 2011 to 2021, secured by aircraft ............ 518,070 557,293
Notes payable to banks, due in semi-annual installments plus interest at
6.06% to 7.18% through 2021, secured by aircraft .................. 212,504 231,002
Notes payable to a financing company, due in semi-annual installments plus
interest at 5.78% to 6.23% through 2019, secured by aircraft .......... 61,087 67,963
Notes payable to banks, due in monthly installments plus interest of 3.15%
to 8.18% through 2025, secured by aircraft ....................... 663,487 611,829
Notes payable to banks, due in semi-annual installments, plus interest at
6.05% through 2020, secured by aircraft ......................... 21,969 23,939
Notes payable to banks, due in semi-annual installments, plus interest at
3.72% to 3.86%, net of the benefits of interest rate subsidies through the
Brazilian Export financing program, through 2011, secured by aircraft .... 360 3,200
Notes payable to a financing company, due in semi-annual installments
interest based on LIBOR secured by flight simulator equipment ........ 2,389 —
Long-term debt ............................................. 1,897,975 $1,964,889
Less current maturities ....................................... (159,039) (148,571)
Long-term debt, net of current maturities .......................... 1,738,936 $1,816,318
At December 31, 2010, the three-month and six-month LIBOR rates were 0.30% and 0.46%,
respectively.
The aggregate amounts of principal maturities of long-term debt as of December 31, 2010 were as
follows (in thousands):
2011 .................................................. $ 159,039
2012 .................................................. 202,991
2013 .................................................. 157,413
2014 .................................................. 163,256
2015 .................................................. 170,283
Thereafter ............................................. 1,044,993
$1,897,975
83