SkyWest Airlines 2014 Annual Report Download - page 51

Results of Operations
2014 Compared to 2013
Operational Statistics. The following table sets forth our major operational statistics and the
associated percentages-of-change for the periods identified below.
Year Ended December 31,
2014 2013 % Change
Revenue passenger miles (000) ........... 31,499,397 31,834,735 (1.1)%
Available seat miles (‘‘ASMs’’) (000) ....... 38,220,150 39,207,910 (2.5)%
Block hours ......................... 2,275,562 2,380,118 (4.4)%
Departures ......................... 1,357,454 1,453,601 (6.6)%
Passengers carried .................... 58,962,010 60,581,948 (2.7)%
Passenger load factor .................. 82.4% 81.2% 1.2pts
Revenue per available seat mile .......... 8.5¢ 8.4¢ 1.2%
Cost per available seat mile ............. 8.6¢ 8.2¢ 4.9%
Fuel cost per available seat mile .......... 0.5¢ 0.5¢ 0.0%
Average passenger trip length (miles) ...... 534 525 1.7%
Revenues. Total operating revenues decreased $60.3 million, or 1.8%, during the year ended
December 31, 2014, compared to the year ended December 31, 2013. Under certain of our flying
contracts, certain expenses are subject to direct reimbursement from our major partners and we record
such reimbursements as passenger revenue. These reimbursed expenses include fuel, landing fees,
station rents and certain engine maintenance expenses. Our fuel expense, landing fees, station rents and
directly-reimbursed engine expense decreased by $79.1 million during the year ended December 31,
2014, as compared to the year ended December 31, 2013, due primarily to (i) our major partners
purchasing an increased volume of fuel, landing fees and station rents directly from vendors on flights
we operated under our code-share agreements and (ii) a reduction in the number of engine
maintenance events. The following table summarizes the amount of fuel, landing fees, station rents,
de-ice and engine overhaul reimbursements included in our passenger revenues for the periods
indicated (dollar amounts in thousands).
For the year ended December 31,
2014 2013 $ Change % Change
Passenger revenues ........................... $3,168,000 $3,239,525 $(71,525) (2.2)%
Less: Fuel reimbursement from major partners ....... 76,675 91,925 (15,250) (16.6)%
Less: Landing fee and station rent reimbursements
from major partners ........................ 23,800 95,175 (71,375) (75.0)%
Less: Engine overhaul reimbursement from major
partners ................................. 130,505 123,024 7,481 6.1%
Passenger revenue excluding fuel, landing fee, station
rent and engine overhaul reimbursements ......... $2,937,020 $2,929,401 $ 7,619 0.3%
Passenger revenues. Passenger revenues decreased $71.5 million, or 2.2%, during year ended
December 31, 2014, compared to the year ended December 31, 2013. Our passenger revenues,
excluding fuel, landing fees, station rents and engine overhaul reimbursements from major partners,
increased $7.6 million, or 0.3%, during the year ended December 31, 2014, compared to the year ended
December 31, 2013. The increase in passenger revenues, excluding fuel, landing fees, station rents and
engine overhaul reimbursements, was primarily due to the additional E175 operations that began in
2014, improvements in the provisions in certain of our flying contracts and additional revenue sharing
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