Skywest profit during a pandemic?

If you haven’t heard Skywest airlines, a regional airline in the US, has posted a profit for Q3 in 2020. Does anyone know how they were able to do this?

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The magic of the world

It truly is I’m shocked especially since there wasn’t a second CARES Act

SkyWest is a regional airline contracted to fly for mainline carriers. I’m pretty sure the mainline airlines they operate for pay SkyWest a set amount of money, regardless of how much money is actually generated on a flight.

Additionally, the mainline carriers are likely the ones paying for fuel, catering, etc., meaning all SkyWest needs is employees and the aircraft so they managed to turn a profit while the mainline carriers are suffering from losses.

I made a meme about this a few months ago:

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I’m thinking either Skywest is getting paid for the flights their doing or there’s a lot of clever accounting done for another purpose. Until there is a proper breakdown of their P&L statement there is not much to talk about when it comes to the reason behind their black numbers over red.

Some regional airlines seem to be doing well in this pandemic, Alliance Airlines in Australia has been doing very well with high profits.

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