SkyWest transitions from 50-seat aircraft with Bombardier agreement

Utah-based SkyWest Inc., parent of regional carriers SkyWest Airlines and ExpressJet Airlines, announced Dec. 13 the company has entered into a termination agreement with Bombardier covering the Canadian manufacturer’s residual value guarantee (RVG) agreements on 76 CRJ200 aircraft owned by SkyWest Airlines and American Airlines.

Bombardier will pay SkyWest $90 million by January 2017 in exchange for the release.

“Both the required sale of each aircraft and the cost to SkyWest of returning the aircraft to mid-time condition were points of risk and uncertainty for SkyWest that this termination agreement eliminates,” SkyWest said in a statement. Read the full article.