SKYW - Why SkyWest Shares Took Off This Week
2023-06-15 14:00:15 ET
The headwinds appear to be dissipating for SkyWest (NASDAQ: SKYW) , giving the small-plane operator clear skies to gain altitude. That had the stock heading higher this week, with shares up 15% as of midday Thursday, according to data provided by S&P Global Market Intelligence .
It has been a volatile few years for commercial airlines . Their stock prices fell sharply in the early days of the pandemic as travel nearly ground to a halt, but a surge in demand in recent quarters has helped the sector to get airborne again.
SkyWest follows a different business model than most of the carriers that travelers will be more familiar with. It operates a fleet of about 500 smaller airplanes that do business under the brands of partners including United Airlines Holdings , Delta Air Lines , and Alaska Air Group . These fee-for-service deals help it better manage its income and expenses, but like other airlines, SkyWest does best when demand is strong.
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Why SkyWest Shares Took Off This Week