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Segment Reporting

9 Months Ended

Sep. 30, 2025

Segment Reporting

Segment Reporting

(6) Segment Reporting

GAAP requires disclosures related to components of a company for which separate financial information is available to, and regularly evaluated by, the Company’s chief operating decision maker when deciding how to allocate resources and in assessing performance.

The Company’s two reportable segments consist of (1) the operations of SkyWest Airlines and SWC (collectively, “SkyWest Airlines and SWC”) and (2) SkyWest Leasing activities.

The Company’s chief operating decision maker analyzes the profitability of operating new aircraft financed through the issuance of debt, including the Company’s E175 fleet, separately from the profitability of the Company’s capital deployed for ownership and financing of such aircraft. The SkyWest Airlines and SWC segment includes revenue earned under the applicable capacity purchase agreements attributed to operating such aircraft and the respective operating costs, and revenue and operating expenses attributed to prorate agreements and airport services agreements. The SkyWest Leasing segment includes applicable revenue earned under the applicable capacity purchase agreements attributed to the ownership of new aircraft acquired through the issuance of debt and the respective depreciation and interest expense of such aircraft. The SkyWest Leasing segment also includes the activity of leasing regional jet aircraft and spare engines to third parties and other activities. The SkyWest Leasing segment’s total assets and capital expenditures include new aircraft acquired through the issuance of debt and assets leased to third parties. Additionally, aircraft removed from SkyWest Airlines’ operations and held for sale are included in the SkyWest Leasing segment.

The chief operating decision maker assesses performance for each segment and decides how to allocate resources based on income before income taxes. The chief operating decision maker uses the segment profit or loss measure when assessing performance of the segment and monitors budget versus actual results to allocate resources for each segment predominantly in the annual budget and forecasting process.

The following represents the Company’s segment data for the three-month periods ended September 30, 2025 and 2024 (in thousands). As required by the adoption of ASC 2023-07, “Segment Reporting (ASC Topic 280) – Improvements to Reportable Segment Disclosures,” the Company recast the segment disclosures for the three and nine months ended September 30, 2024 to conform to the current year presentation.

​	​	​	​	​	​	​	​	​	​
​	​	Three months ended September 30, 2025
​	​	SkyWest Airlines		​	SkyWest		​	​
​		and SWC			Leasing			Consolidated
Operating revenues	​	$	892,618	​	$	157,411	​	$	1,050,029
​	​	​	​	​	​	​	​	​	​
Salaries, wages and benefits	​		390,969	​		665	​		391,634
Aircraft maintenance, materials and repairs	​		236,745	​		11,233	​		247,978
Depreciation and amortization	​		40,778	​		51,696	​		92,474
Interest expense	​		2,662	​		22,949	​		25,611
Other segment expense (income) items(1)	​	​	144,963	​	​	(9,800)	​	​	135,163
Segment profit(2)	​	$	76,501	​	$	80,668	​	$	157,169
​	​	​	​	​	​	​	​	​	​
Total assets (as of September 30, 2025)	​	$	3,160,752	​	$	4,053,444	​	$	7,214,196
Capital expenditures (including non-cash)	​	$	39,836	​	$	15,559	​	$	55,395

​

​	​	​	​	​	​	​	​	​	​
​	​	Three months ended September 30, 2024
​	​	SkyWest Airlines		​	SkyWest		​	​
​		and SWC			Leasing			Consolidated
Operating revenues	​	$	758,425	​	$	154,361	​	$	912,786
​	​	​	​	​	​	​	​	​	​
Salaries, wages and benefits	​	​	376,770	​		665	​	​	377,435
Aircraft maintenance, materials and repairs	​	​	173,745	​		7,907	​	​	181,652
Depreciation and amortization	​	​	37,105	​		59,557	​	​	96,662
Interest expense	​	​	2,864	​		24,944	​	​	27,808
Other segment expense (income) items(1)	​	​	123,356	​	​	(10,323)	​	​	113,033
Segment profit(2)	​	$	44,585	​	$	71,611	​	$	116,196
​	​	​	​	​	​	​	​	​	​
Total assets (as of September 30, 2024)	​	$	2,673,084	​	$	4,283,516	​	$	6,956,600
Capital expenditures (including non-cash)	​	$	59,331	​	$	24,956	​	$	84,287

(1) Other segment items include aircraft fuel; airport related expenses; other operating expenses consisting primarily of property taxes, hull and liability insurance, simulator costs, crew per diem and crew hotel costs; aircraft rentals; interest income and other income (expense), net.

(2) Segment profit is equal to income before income taxes. As a result of adopting ASC 2023-07 in 2024, the Company included interest income and other income (expense), net in the recast segment profit for each segment for the three months ended September 30, 2024, consistent with the presentation for the three months ended September 30, 2025.

​	​	​	​	​	​	​	​	​	​
​	​	Nine months ended September 30, 2025
​	​	SkyWest Airlines		​	SkyWest		​	​
​		and SWC			Leasing			Consolidated
Operating revenues	​	$	2,563,605	​	$	470,106	​	$	3,033,711
​	​	​	​	​	​	​	​	​	​
Salaries, wages and benefits	​	​	1,157,193	​	​	1,995	​	​	1,159,188
Aircraft maintenance, materials and repairs	​	​	654,830	​	​	41,133	​	​	695,963
Depreciation and amortization	​	​	117,531	​	​	154,539	​	​	272,070
Interest expense	​	​	8,830	​	​	70,465	​	​	79,295
Other segment expense (income) items(1)	​	​	404,189	​	​	(17,997)	​	​	386,192
Segment profit(2)	​	$	221,032	​	$	219,971	​	$	441,003
​	​	​	​	​	​	​	​	​	​
Total assets (as of September 30, 2025)	​	$	3,160,752	​	$	4,053,444	​	$	7,214,196
Capital expenditures (including non-cash)	​	$	233,067	​	$	80,717	​	$	313,784

​

​	​	​	​	​	​	​	​	​	​
​	​	Nine months ended September 30, 2024
​	​	SkyWest Airlines		​	SkyWest		​	​
​		and SWC			Leasing			Consolidated
Operating revenues	​	$	2,117,018	​	$	466,500	​	$	2,583,518
​	​	​	​	​	​	​	​	​	​
Salaries, wages and benefits	​	​	1,081,444	​	​	1,995	​	​	1,083,439
Aircraft maintenance, materials and repairs	​	​	490,397	​	​	19,937	​	​	510,334
Depreciation and amortization	​	​	110,217	​	​	179,129	​	​	289,346
Interest expense	​	​	9,595	​	​	77,008	​	​	86,603
Other segment expense (income) items(1)	​	​	343,807	​	​	(28,548)	​	​	315,259
Segment profit(2)	​	$	81,558	​	$	216,979	​	$	298,537
​	​	​	​	​	​	​	​	​	​
Total assets (as of September 30, 2024)	​	$	2,673,084	​	$	4,283,516	​	$	6,956,600
Capital expenditures (including non-cash)	​	$	144,588	​	$	24,956	​	$	169,544

(1) Other segment items include aircraft fuel; airport related expenses; other operating expenses consisting primarily of property taxes, hull and liability insurance, simulator costs, crew per diem and crew hotel costs; aircraft rentals; interest income and other income (expense), net.

(2) Segment profit is equal to income before income taxes. As a result of adopting ASC 2023-07 in 2024, the Company included interest income and other income (expense), net in the recast segment profit for each segment for the nine months ended September 30, 2024, consistent with the presentation for the nine months ended September 30, 2025.

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The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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