Skywest Airlines Share Discussion Threads

[liarspoker] 20/10/2009 18:53

Hi GHF,

Glad that you are taking a look.

To be honest I haven't even looked at the notes that I made for SKYW last time I invested here. I read the results though and worked out a valuation from the balance sheet. It's a strong balance sheet too.

I note that 2010 eps is 4.8p which on a P/E of only 8 still leaves this massively cheap currently. I doubt that 4.8p will be reached though unless the following occurs:

'LONDON (SHARECAST) - Western Australian airline Skywest said it expects a huge gas production project in the state to result in a sharp rise in passenger numbers.

The project, whose participants US oil firms Exxon Mobil and Chevron and the Anglo-Dutch firm Shell are expected to make a final investment decision next month, would be worth $50bn, the biggest ever trade deal in Australia�s history. '

But even if they do half that and do 2.4p that still leaves plenty of upside from current levels.

So what we have here is a low multiple stock, low PEG, strong balance sheet, cheapish valuation re net tangible assets vs market cap, good sized divi which is always nice, good management although I must check that the same team is aboard.

I'd say a 50% rise from here is a certainty perhaps with a good bit more to come after that but let's just take it bit by bit.

I know a fellow who works in the mines in Western Australia and I've Emailed him to see who he flies with.

Hope that helps a little. :O)

Liars

[glasshalfull] 20/10/2009 17:15

Yep, interesting share.

Noticed your "wakey,wakey" earlier Liars. Nice 2nd half turnaround and will require to get the calculator out to carry out the necessary currency translation & work out respective ratios....unless you've done it already :-)

I'm sure you've still got hold of my email address and any notes or research you can throw my way would be much appreciated.

Cheers,
GHF

[shanksaj] 20/10/2009 17:05

One of Skywest's biggest problems was the huge oil price at 140 US$ early in the year (June 08 to June 09) and the weak Australian $ average over the course of the year. Now oil is around 70 US$ and the Australian dollar is much stronger and is very likely to continue to appreciate in value over the coming year making their oil costs cheaper and their profits in Sterling terms much greater.

Its looking good for UK investors as long as they don't want to buy a property in Australia.

[liarspoker] 20/10/2009 14:59

500K at mid went through before lunch time.

[liarspoker] 20/10/2009 09:45

I held these before they changed their name. Pity I took my eye of them but they are still too cheap imo. Bought back in this AM and will add if the price drops nicely.

[shanksaj] 20/10/2009 09:01

Nice dividend increase from .7 singapore cents to 1 Sing-cent.

At current rates that is from .2975p to .425p or nearly a 43% increase. It would be strange for a board to give such a large increase one year and fail to give any increase the following year. I would have thought there should be at least 15% increase next year.

I suppose both Singapore and Australian dollars will do much better than Sterling over the next few years so it will be good to have exposure to companies declaring in foreign currencies (such as this). Currency depreciation of Sterling will surely add at least another 10% to the dividend in Sterling for next year.

The current yield at 10.5p share price is 4%.

[atlantic1953] 20/10/2009 08:48

Yes good results indeed but unless pr improves share price may not respond.

[qs9] 20/10/2009 07:20

Decent set of results IMO, anyone digested them yet?

[qs9] 18/10/2009 10:25

graet info thanks. Likewise this share looks good on all metrics iMO, but suffers from lack of visibility possibly due to no Investor relations? Hopefully they can begin sorting that out...

[atlantic1953] 18/10/2009 08:57

wozelbeak thanks for that information.

This looks a screaming buy on all my known investment measures.

yeild

prospective pe

asset value

The exchange position makes it look even better.

[wozelbeak] 17/10/2009 20:44

"For the sake of clarity, the Company
holds many assets valued in Australian dollars, yet reports in Singapore dollars
and therefore any diminution in the value of the Australian dollar may cause an
exchange loss, albeit such loss may not have been realized. Indeed should the
Australian Dollar increase in value during the second half of this financial
year the unrealized exchange rate losses may be reversed. "

-----------------------------------------------------------------------------

Well the Aus Dollar has increased. could make for a very interesting set of results this year.

[qs9] 17/10/2009 11:54

Hoping the impact of a stronger Aus$ will be offset by the fact that the mining sector and economy in region in general has picked up. Fact that Aus put interest rates up first in the world says it all IMO. So a dual listing and some decent IR (please take note SKYW if you read this!) will get some people interested in this little gem. in the meantime, yield keeps us entertained....

[atlantic1953] 16/10/2009 11:28

Presumably the stronger aussie dollar for a uk investor will mean that for a sterling investor the investment should appreciate.
Although the share price currently shows no sign of recognizing this.

[wozelbeak] 15/10/2009 20:43

fl4nders, i have long since moved my holdings from here into MRP.
That at last is showing a nice profit. i should soon be top slicing mrp and moving it elsewhere.
i have been looking at SKYW again as i think they remain underrated.
my question to you is this, in your oppinion, how much of a difference will the strengthening AUS $ v SING $ have on the end of year result?

[fl4nders] 14/10/2009 21:18

15th December

[atlantic1953] 12/10/2009 14:14

What will it take to get this stock moving skywards !
The updates seem positive but there is no impact on the share price

When do the company provide full year results ?
Thanks

[atlantic1953] 30/9/2009 15:57

Shanks my biggest holding is medusa mining.
I concur with your comments on eps and yeild which is why i am in but at a higher price than yourself.

[shanksaj] 30/9/2009 13:39

Atlantic,

With the dividend currently at 0.7p, an eps at 3.1p, and excellent growth prospects, I may wait for it to reach a realistic price, around 20p.

[atlantic1953] 29/9/2009 16:07

Hey shanks life on this board after all !

[shanksaj] 29/9/2009 15:56

Skywest just about to take off. Please fasten your safety belts.

[atlantic1953] 24/9/2009 11:22

Presumably the large transaction today is market maker to market maker.

[fl4nders] 08/9/2009 08:20

SAGEM - These figures don't reflect the new capacity that they recently announced.

[sagem] 08/9/2009 07:13

is this good or not so good or excellent

NS Number : 6615Y
Skywest Airlines Limited
08 September 2009




8 September 2009


SKYWEST AIRLINES LTD

('Skywest' or 'the Company')


AUGUST 2009 AIRLINE PASSENGER OPERATING STATISTICS


Charter Services Increase by 23.45%



Skywest, the Australian and South East Asia regional airline, is pleased to announce its network operating statistics for the month of August 2009.


The Number of Charter Services increased by 23.45% to 229, while passenger numbers for the month decreased by 11.78% when compared to the same period last year.






Month of August




August-09


August-08


Change

Passengers Carried ('000s)


31


35


-11.78%

Revenue Passenger Kilometres ('000s)


25,946


30,440



-14.76%


Available Seat Kilometres ('000s)


45,231


53,578


-15.58%

Load Factor %


57.36%


56.82%


0.55%

Charter Services


229


186


23.45%

Average Aircraft in Fleet


14


13









Financial Year-to-Date




2009/10


2008/09


Change

Passengers Carried ('000s)


63


71


-11.30%

Revenue Passenger Kilometres ('000s)


54,333


61,960



-12.31%


Available Seat Kilometres ('000s)


92,582


106,213


-12.83%

Load Factor %


58.69%


58.34%


0.35%

Charter Services


475


375


26.84%

Average Aircraft in Fleet


14


13








Notes:

*

Monthly operating statistics are issued on a preliminary basis and are subject to change. Any adjustments made will flow through to the year to date results
*

Passengers Carried refers to Regular Passenger Transport (RPT) passengers and therefore excludes charter passengers
*

RPKs refers to the number of paying passengers carried multiplied by the number of kilometres flown
*

ASKs refers to the number of seats available for sale to passengers multiplied by the number of kilometres flown
*

Load factor is RPKs divided by ASKs




--ENDS--



Enquiries:


Skywest Airlines Ltd
Jeff Chatfield, Executive Chairman 07783 942 553



Nominated Adviser
James Joyce/David Porter, W H Ireland Limited 0207 220 1666



Company Stockbroker

W H Ireland Limited 0207 220 1690


Financial Public Relations

Bishopsgate Communications 0207 562 3350
Nick Rome/Will Tindall

[e-mail]


Websites
www.advent.com.sg

www.skywest.com.au

www.skywest.com.sg



This information is provided by RNS
The company news service from the London Stock Exchange

END