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Nature of Operations and Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2023
Nature of Operations and Summary of Significant Accounting Policies [Line Items] |
Schedule of number of aircraft held by entity | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | E175 |  | CRJ900 |  | CRJ700 |  | CRJ200 |  | Total
United |  | 90 | ​ | — | ​ | 19 | ​ | 89 | ​ | 198
Delta | ​ | 85 | ​ | 41 | ​ | 9 | ​ | — | ​ | 135
American |  | 20 | ​ | — | ​ | 90 | ​ | — | ​ | 110
Alaska |  | 42 | ​ | — | ​ | — | ​ | — | ​ | 42
Aircraft in scheduled service or under contract | ​ | 237 | ​ | 41 | ​ | 118 | ​ | 89 | ​ | 485
SWC | ​ | — | ​ | — | ​ | — | ​ | 16 | ​ | 16
Leased to third parties |  | — | ​ | 5 | ​ | 35 | ​ | — | ​ | 40
Other (1) |  | — | ​ | 3 | ​ | 14 | ​ | 45 | ​ | 62
Total Fleet |  | 237 | ​ | 49 | ​ | 167 | ​ | 150 | ​ | 603
(1) | As of December 31, 2023, other aircraft included: supplemental spare aircraft supporting the Company’s code-share agreements that may be placed under future code-share or leasing arrangements, aircraft transitioning between code-share agreements with the Company’s major airline partners, aircraft held-for-sale or aircraft that are scheduled to be disassembled for use as spare parts.
Schedule of marketable securities |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Gross unrealized | ​ | Gross unrealized | ​ | ​ | ​ | ​
At December 31, 2023 |  | Amortized Cost |  | holding gains |  | holding losses |  | Fair market value |
Marketable securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Bond and bond funds | ​ | $ | 676,644 | ​ | $ | 430 | ​ | $ | — | ​ | $ | 677,074 | ​
Commercial Paper | ​ |  | 9,872 | ​ |  | — | ​ |  | — | ​ |  | 9,872 | ​
Total marketable securities | ​ | $ | 686,516 | ​ | $ | 430 | ​ | $ | — | ​ | $ | 686,946 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Gross unrealized | ​ | ​ | Gross unrealized | ​ | ​ | ​ | ​
At December 31, 2022 |  | Amortized Cost |  | holding gains |  | holding losses |  | Fair market value |
Marketable securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Bond and bond funds | ​ | $ | 629,280 | ​ | $ | — | ​ | $ | (5,026) | ​ | $ | 624,254 | ​
Commercial Paper | ​ |  | 319,977 | ​ |  | — | ​ |  | — | ​ |  | 319,977 | ​
Total marketable securities | ​ | $ | 949,257 | ​ | $ | — | ​ | $ | (5,026) | ​ | $ | 944,231 | ​
Schedule of property and equipment | ​
​ ​ ​ | ​ |  |  |  |
Assets | ​ | Depreciable Life | ​ | Current Residual Value
Aircraft, rotable spares, and spare engines | ​ | up to 22 years |  | up to 20 | %
Ground equipment | ​ | up to 10 years |  | 0 | %
Office equipment | ​ | up to 5 years | ​ | 0 | %
Leasehold improvements | ​ | Shorter of 15 years or lease term |  | 0 | %
Buildings | ​ | 20 - 39.5 years |  | 0 | %
Schedule of aircraft and agreements with major airline partners | United Express Agreements
Agreement |  | Aircraft type |  | Number of Aircraft |  | Term / Termination Dates
United Express Agreements (capacity purchase agreement) | ​ | · E175 · CRJ 700 · CRJ 200 | ​ | 90 19 70 | ​ | · Individual aircraft have scheduled removal dates under the agreement between 2024 and 2029 · The average remaining term of the aircraft under contract is 2.7 years
United Express Prorate Agreement (prorate agreement) | ​ | · CRJ 200 | ​ | *19 | ​ | · Terminable with 120-day notice
Total under United Express Agreements | ​ | ​ | ​ | 198 | ​ | ​
​ Delta Connection Agreements
Agreement |  | Aircraft type |  | Number of Aircraft |  | Term / Termination Dates
Delta Connection Agreement (capacity purchase agreement) | ​ | · E175 · CRJ 900 · CRJ 700 | ​ | 85 35 5 | ​ | · Individual aircraft have scheduled removal dates from 2024 to 2034 · The average remaining term of the aircraft under contract is 4.8 years
Delta Connection Prorate Agreement (prorate agreement) | ​ | · CRJ 900 · CRJ 700 | ​ | 6* 4* | ​ | · Terminable with 30-day notice
Total under Delta Connection Agreements | ​ | ​ | ​ | 135 | ​ | ​
​ American Capacity Purchase Agreement
Agreement |  | Aircraft type |  | Number of Aircraft |  | Term / Termination Dates
American Agreement (capacity purchase agreement) | ​ | · E175 · CRJ 700 | ​ | 20 90 | ​ | · Individual aircraft have scheduled removal dates from 2024 to 2032 · The average remaining term of the aircraft under contract is 3.1 years
Total under American Agreement | ​ | ​ | ​ | 110 | ​ | ​
​ Alaska Capacity Purchase Agreement
Agreement |  | Aircraft type |  | Number of Aircraft |  | Term / Termination Dates
Alaska Agreement (capacity purchase agreement) | ​ | · E175 | ​ | 42 | ​ | · Individual aircraft have scheduled removal dates from 2030 to 2034 · The average remaining term of the aircraft under contract is 7.5 years
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2025 |  | 2026 | ​ | Total
Delta Air Lines |  | 1 |  | — |  | — | ​ | 1
United Airlines |  | 4 |  | 7 |  | 8 | ​ | 19
Alaska Airlines |  | — |  | 1 |  | — | ​ | 1
Total |  | 5 |  | 8 |  | 8 | ​ | 21
Schedule of future minimum rental payments for operating leases | The following table summarizes future minimum rental payments required under operating leases that had initial or remaining non-cancelable lease terms as of December 31, 2023 (in thousands): ​
​ | ​ | ​ | ​
2024 |  | $ | 19,924
2025 | ​ |  | 17,503
2026 | ​ |  | 13,752
2027 | ​ |  | 12,554
2028 | ​ |  | 9,762
Thereafter | ​ |  | 55,568
Total future minimum operating lease payments | ​ | $ | 129,063
​
Schedule of allowance for credit losses | The following table summarizes the changes in allowance for credit losses: ​
​ | ​ | ​ | ​
​ |  | Allowance for Credit Losses
Balance at December 31, 2020 | ​ | $ | 46,225
Adjustments to credit loss reserves | ​ | ​ | (4,249)
Write-offs charged against allowance | ​ | ​ | —
Balance at December 31, 2021 | ​ | $ | 41,976
Adjustments to credit loss reserves | ​ | ​ | (4,591)
Write-offs charged against allowance | ​ | ​ | —
Balance at December 31, 2022 | ​ | $ | 37,385
Adjustments to credit loss reserves | ​ |  | (185)
Write-offs charged against allowance | ​ |  | (18,501)
Balance at December 31, 2023 | ​ | $ | 18,699
Schedule of net income (loss) per common share | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ | ​ | 2023 | ​ | 2022 | ​ | 2021
Numerator: |  | ​ |  |  | ​ |  | ​ | ​ |
Net income | ​ | $ | 34,342 | ​ | $ | 72,953 | ​ | $ | 111,910
Denominator: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic earnings per share weighted average shares | ​ |  | 43,940 | ​ |  | 50,548 | ​ |  | 50,348
Dilution due to employee equity awards and warrants | ​ |  | 659 | ​ |  | 96 | ​ |  | 405
Diluted earnings per share weighted average shares | ​ |  | 44,599 | ​ |  | 50,644 | ​ |  | 50,753
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic earnings per share | ​ | $ | 0.78 | ​ | $ | 1.44 | ​ | $ | 2.22
Diluted earnings per share | ​ | $ | 0.77 | ​ | $ | 1.44 | ​ | $ | 2.20
Schedule of antidilutive securities excluded from calculation of diluted EPS |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ | ​ | 2023 | ​ | 2022 | ​ | 2021
Treasury Warrants (1) | ​ | ​ | 286 | ​ | ​ | 640 | ​ | ​ | 78
Employee Stock Awards | ​ | ​ | 15 | ​ | ​ | 219 | ​ | ​ | —
Total antidilutive securities | ​ | ​ | 301 | ​ | ​ | 859 | ​ | ​ | 78
(1) | U.S. Department of the Treasury (“Treasury”) warrants to purchase shares of SkyWest common stock issued pursuant to the three Payroll Support Program Agreements and a loan agreement. See Note 10, “Payroll Support Programs” and Note 11, “Capital Transactions” for further discussion on the warrants issued to Treasury.
Flying agreements |
Nature of Operations and Summary of Significant Accounting Policies [Line Items] |
Schedule of revenue by type | The following table represents the Company’s flying agreements revenue by type for the years ended December 31, 2023, 2022 and 2021 (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the year ended December 31,
​ |  | 2023 |  | 2022 | ​ | 2021
Capacity purchase agreements flight operations revenue (non-lease component) | ​ | $ | 1,976,743 | ​ | $ | 2,028,308 | ​ | $ | 1,678,219
Capacity purchase agreements fixed aircraft lease revenue | ​ | ​ | 296,047 | ​ | ​ | 504,529 | ​ | ​ | 527,173
Capacity purchase agreements variable aircraft lease revenue | ​ |  | 180,218 | ​ | ​ | 17,664 | ​ | ​ | —
Prorate agreements and SWC revenue | ​ |  | 381,389 | ​ | ​ | 349,336 | ​ | ​ | 409,684
Flying agreements revenue | ​ | $ | 2,834,397 |  | $ | 2,899,837 | ​ | $ | 2,615,076
Airport customer service and other revenue |
Nature of Operations and Summary of Significant Accounting Policies [Line Items] |
Schedule of revenue by type | represents the Company’s lease, airport services and other revenues for the years ended December 31, 2023, 2022 and 2021 (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the year ended December 31,
​ |  | 2023 |  | 2022 | ​ | 2021
Operating lease revenue | ​ | $ | 47,554 | ​ | $ | 48,714 | ​ | $ | 46,532
Operating lease revenue relating to variable lease payments | ​ | ​ | 18,420 | ​ | ​ | 17,050 | ​ | ​ | 19,998
Airport customer service and other revenue | ​ | ​ | 35,061 | ​ | ​ | 39,324 | ​ | ​ | 31,885
Lease, airport services and other | ​ | $ | 101,035 | ​ | $ | 105,088 | ​ | $ | 98,415
Aircraft |
Nature of Operations and Summary of Significant Accounting Policies [Line Items] |
Schedule of future minimum rental payments for operating leases |
​ | ​ | ​ | ​
2024 |  | $ | 46,119
2025 | ​ |  | 41,172
2026 | ​ |  | 35,630
2027 | ​ |  | 35,586
2028 | ​ |  | 35,024
Thereafter | ​ |  | 53,122
Total future minimum rental income under operating leases | ​ | $ | 246,653

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