SkyWest, Inc. (SKYW) announced that it has entered into an agreement with Embraer for the purchase of 100 new E175 dual-class regional jet aircraft.
Of the 100 aircraft, 40 are considered firm deliveries and the remaining 60 aircraft are considered conditional until SkyWest enters into capacity purchase agreements with other major airlines to operate the aircraft.
Deliveries for the 40 firm aircraft are anticipated to begin in the second quarter of 2014 and continue through mid 2015.
The aircraft will be configured in 76 seats in dual-class.
The agreement also includes options for an additional 100 E175 aircraft and would be valued At $8.3 billion if all 200 aircraft are ordered. The initial 40 firm aircraft outlined above will be operated by SkyWest Airlines, Inc, a wholly-owned subsidiary of SkyWest, Inc., under a new agreement with United Airlines, Inc.
Separately, SkyWest announced that it has entered into a Capacity Purchase Agreement or "CPA" with United Airlines, Inc. to operate 40 new Embraer E175 dual-class regional jet aircraft.
The CPA with United has a term of 12 years and SkyWest will operate under terms and conditions similar to its existing agreements with United.
SkyWest said it has determined that these 40 regional jet aircraft will be operated by SkyWest Airlines, Inc.
As per the agreement, it is anticipated that the 40 aircraft will be introduced into service in the second quarter of 2014, with deliveries continuing to mid-2015. The aircraft will be configured with 76-seats in dual-class.
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