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SkyWest, Inc. Announces Amendment of Registration Statement for Proposed Offering of 4,000,000 Shares of Common Stock

Posted on: Tuesday, 4 April 2006, 12:00 CDT

ST. GEORGE, Utah, April 4 /PRNewswire-FirstCall/ -- SkyWest, Inc. , announced today that it has filed with the Securities and Exchange Commission an amendment to its registration statement for a proposed underwritten public offering of four million shares, all of which are being sold by the company. In addition, SkyWest proposes to grant to the underwriters an option to purchase an additional 600,000 shares to cover over-allotments, if any.

Proceeds from the offering are intended to be used to repay certain existing indebtedness, for working capital and for other general corporate purposes.

When available, a copy of the final prospectus for the offering can be obtained from the offices of either:

Merrill Lynch, Pierce, Fenner & Smith Incorporated 4 World Financial Center, North Tower New York, NY 10080 or Raymond James & Associates, Inc. 880 Carillon Parkway St. Petersburg, FL 33716

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.

SkyWest is a holding company that operates two independent subsidiaries, SkyWest Airlines, based in St. George, Utah, and Atlantic Southeast Airlines ("ASA"), based in Atlanta, Georgia. SkyWest Airlines operates as United Express and Delta Connection carriers under contractual agreements with United Air Lines and Delta Air Lines. ASA operates as a Delta Connection carrier under a contractual agreement with Delta Air Lines. System-wide, SkyWest serves 218 destinations in the United States, Canada, Mexico and the Caribbean, with approximately 2,350 daily departures. This press release and additional information regarding SkyWest can be accessed at http://www.skywest.com/ .

In addition to historical information, this release contains forward-looking statements. SkyWest may, from time-to-time, make written or oral forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements encompass SkyWest's beliefs, expectations, hopes or intentions regarding future events. Words such as "expects,""intends,""believes,""anticipates,""should,""likely" and similar expressions identify forward-looking statements. All forward-looking statements included in this release are made as of the date hereof and are based on information available to SkyWest as of such date. SkyWest assumes no obligation to update any forward-looking statement. Actual results will vary, and may vary materially, from those anticipated, estimated, projected or expected for a number of reasons, including, among others: the failure to integrate the operations and employees of SkyWest and ASA and achieve the anticipated synergies associated with SkyWest's acquisition of ASA; the failure to successfully operate as anticipated under the terms of the Delta Connection Agreements; the impact of negotiations with ASA's organized labor forces and the impact of the costs of such labor forces on SkyWest's operations and financial condition; the failure to accurately forecast acquisition-related costs; and the challenges of competing successfully in a highly competitive and rapidly changing industry. Other factors that may cause actual results to vary from SkyWest's expectations include developments associated with fluctuations in the economy and the demand for air travel; bankruptcy proceedings involving Delta and United; ongoing negotiations between SkyWest and its major partners regarding their contractual relationships; variations in market and economic conditions; employee relations and labor costs; rapidly escalating fuel costs; the degree and nature of competition; potential fuel shortages in markets where SkyWest Airlines or ASA operate; the impact of weather-related or other natural disasters on air travel and airline costs; the ability of SkyWest Airlines and ASA to expand services in new and existing markets and to maintain profit margins in the face of pricing pressures; aircraft deliveries; SkyWest's ability to obtain financing; and other unanticipated factors. Risk factors, cautionary statements and other conditions which could cause actual results to differ from management's current expectations are contained in SkyWest's filings with the Securities and Exchange Commission, including the section of SkyWest's Annual Report on Form 10-K entitled "Risk Factors."

SkyWest, Inc.

CONTACT: Michael J. Kraupp, Vice President, Finance and AssistantTreasurer of SkyWest, Inc., +1-435-634-3212, Fax: +1-435-634-3205

Web site: http://www.skywest.com/

Source: PRNewswire-FirstCall

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