Regional carrier SkyWest had the highest involuntary denied-boardings rate last year, 2.32 per 10, 000 passengers.
Regional carrier SkyWest had the highest involuntary denied boardings rate last year, 2.32 per 10, 000 passengers.
Skywest ( NASDAQ:SKYW) This airline company is selling at about a 40% discount to its book value.
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Raymond Neidl, senior analyst at Calyon Securities in New York, thinks that both Mesa and SkyWest are attractive.
Neidl calls SkyWest the powerhouse of the regional carriers and likes its steady earnings stream and cash flow generation.
Shares of SkyWest and Mesa sell for a respective 10 and eight times their Thomson IBES consensus earnings forecast for 2007.
United hires SkyWest Airlines flying a Bombardier CRJ700 with 66 seats and a 6-foot-tall cabin that's a few inches taller than Bombardier's original 50-seat CRJ.
The airlines covered in the report are Air Tran, Alaska, American, American Eagle, Delta, ExpressJet, Frontier, Hawaiian, JetBlue, SkyWest, Southwest, United, US Airways and Virgin America.
"We see several near-term concerns that are likely to weigh on regional share prices, " Linenberg says, leading to a hold rating for Republic Airways Holdings and SkyWest.
Houston-based ExpressJet, he thinks, made a mistake in spurning takeover inquiries from SkyWest, especially now that Continental Airlines has declined to renew its flying agreements for the bulk of ExpressJet's 50-seat jets.
ExpressJet, a unit of SkyWest Airlines, said it has so many flights on the chronically delayed list simply because it is flying in and out of Newark so much in the most congested airspace in the country.
The smaller carriers that do have a significant percentage of hub-and-spoke routes, such as Mesa Air Group and SkyWest, do so as contract carriers for the Big Six: AMR, Delta Air Lines , UAL, Continental Airlines, Northwest Airlines and U.S. Airways.
Atlantic Southeast, which was sold to Skywest Airlines by Delta in 2005 but continues as Delta's connector partner, tends to get short shrift during weather delays by an Air Traffic Control system that would always rather delay flights with relatively fewer people on them.
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