Where to for Skywest

[NS Driver]

I note that Scott Henderson has tendered his resignation as head of Skywest. It sounds as if the whole takeover of Skywest by the listed Singaporean company may well prove to be a testing time for Skywest. Does any one know if Skippers are waiting in the wings to pick over any routes that may find there way via Skywest ??

[topend3]

I believe the tender is planned to take place in Dec '05 for the WA turboprop routes, the government is opening the routes up for tender and i believe skywest will stand a good chance of retaining their main routes. Currently Geraldton is the only route where competition is present, Skippers and Skywest operate on this. Albany, Esperance and the rest are all deemed sole-operator routes which can not sustain viable competition.

Skipper's RPT network has grown, and they certainly want more share of the action.

SH's departure was inevitable, it was his job to vigourously defend any takeover attempt. His successor and the incoming board of CVC directors will provide us with some interesting times ahead, have not heard much firm about what their plans are for the airline, only rumours.

Media Release 2004-31-12


Media Release
31 December 2004

ANNOUNCEMENT TO ASX LIMITED

Perth Australia the 30th of December 2004

Following further discussions between the current Board of Skywest Limited and CaptiveVision Capital Limited (‘CVC”), and in the interest of effecting a smooth transition of board control, the following changes in memberships of the board of the Company were implemented at a meeting of the Board today.

The changes agreed to and made avoid the time and cost of arranging a special purpose members meeting and were the outcome of good faith negotiations between Skywest and CVC.

Effective today Messrs R. J. (Jeff) Chatfield, Lim Soon Hock, Irene Tay Gek Lim and Janet LC Tan were appointed directors of Skywest Limited.

Messrs Pat Ryan, currently Chairman and Mr John Saleeba, a non-executive director resigned with immediate effect. Messrs Clive Hartz and Grant Pitman will remain as non-executive directors. Mr Scott Henderson will remain as Managing Director until the resignation, which was announced on the 21st December 2004, takes effect.

Mr Chatfield thanked Mr Ryan and Mr Saleeba for their efforts and service in the formation, capital raising and quotation of the securities of Skywest Ltd on the Australian Stock Exchange.

Summary biographical details of the new directors are:

R J (Jeff) Chatfield

Mr Chatfield is Managing Director of CVC and is a member of the Singapore Institute of Company Directors. He has held director level and senior management responsibilities for companies in various industries with locations as diverse as New York, Amsterdam, Sao Paulo Brazil, Singapore, Perth and Melbourne. Mr Chatfield’s past experience includes the foundation of a global television advertising service, the making of substantial investments of behalf of public companies, the acquisition of two Australian radio stations, creation an independent radio news service, building a pioneering digital television service. He has managed and closed a variety of capital raisings, an IPO, strategic advisory, public equity issues and secondary offerings. Mr Chatfield holds a MESc from the University of Western Australia along with a BE from the University of Western Australia.

Lim Soon Hock

Soon Hock has more than 30 years of experience as a board member, chief executive, technopreneur and investor. Senior positions which he has held include Vice President and Managing Director of Compaq Computer Asia Pacific, Director of TPA Strategic Holdings (a Singapore listed airline and aerospace company), Asia Pacific President of SITA INC Asia Pacific an aerospace services organisation and is the Chairman of the Singapore Institute of Management. Mr Lim sits on the Board of Directors of several Singapore government agencies. He holds a BE (Hons) from the University of Singapore and is a Fellow of the Institution of Engineers, Singapore, Institution of Electrical Engineers, UK and the Singapore Institute of Directors.

Irene Tay Gek Lim

Irene Lim is a CPA (Australia), a member of the Institute of Certified Public Accountants of Singapore and the Singapore Academy of Law. She has served with the Monetary Authority of Singapore regulating financial markets. Her other experience includes positions with Messrs Khattar Wong & Partners, a major legal firm in Singapore, and with the Investment Banking – Corporate Finance Department of DBS Bank along with the Corporate Finance Department of Hong Leong Finance Limited. She graduated with a Bachelor of Law degree and a Bachelor of Economics degree from Monash University, Melbourne, Australia. Postgraduate qualifications include a Master of Law degree from the National University of Singapore, and a Master of Science (International Banking & Financial Studies) from the University of Southampton, United Kingdom. Ms Lim is currently the Managing Director of Corporate Bridge Private Limited, an investment company in Singapore and a Director of A-Sonic Aerospace Limited, a public company listed on the Main Board of the SGX-ST.

Janet LC Tan

Janet Tan is a Director and the Chief Executive Officer of A-Sonic Aerospace Limited a public company listed on the Main Board of the SGX-ST operating in the aerospace sector. Her current responsibilities include the development of business strategies and the implementation of the growth strategies for A-Sonic Aerospace and its subsidiaries. Prior to being the promoter and founder of the A-Sonic Aerospace Group, she was an operations manager in Huafa Limited, a Hong Kong company with operations in Beijing, China and was responsible for the development, sales and customer service for Huafa Limited, an aviation agency company. Ms Tan’s educational qualifications are a Full Technological Certificate for Electrical Engineering Technicians from City and Guilds of London Institute.

By order of the board of directors of Skywest Ltd

Alastair Walker


Company Secretary

End of Media Release

[NS Driver]

I guess it will be interesting to see if the WA Govt gives the bid to Skywest who's major shareholder is a Singaporean Company or they award it to Skippers who are a local controlled outfit?

[Boomerang]

Lets hope that IF Skippers do get it, they raise the employment conditions to those experienced at Skywest and other regional airlines who value their staff.

[Icarus2001]

Well the Skywest share price has been hovering around 0.17 for a little while now.

Captive Vision Capital, the new owners are based in Singapore.

Regional Express is part owned by Singapore based investors.

Singapore Airlines is seeking on carriage rights from Australia to the US.

Is there a connection here? A good time to buy perhaps?

[Icarus2001]

Skywest have apparently announced that they will no longer fly Kalgoorlie to Esperance. Strangely this announcement is not on their website...http://www.skywest.com.au/home.asp?documentid=135

Can anyone shed any light?

I also note that the share price has risen slightly to 18.5c.

[topend3]

re the decision to can KGI-EPR - based purely on loads, often only 1/2 a dozen pax each way, so now just direct kal or direct esperance.

it was very well priced, the kgi-epr route at $49.50 one way, cheaper than the bus!!! but not supported so not profitable.

[Icarus2001]

There is clearly upward pressure on their share price. Now 21 cents.

[Uncle Festa]

"There is clearly upward pressure on their share price"

Interesting isn't it given:

(a) No news on the appointment of a new CEO since Scotty left . . . .
(b) Four CFOs in a little over 18 months . . . .
(c) Oil at record prices . . . .
(d) A Board that doesn't appear to have significant Aviation experience in Australia and in particular, regional airline experience.

. . . . . with respect to point (d) and the lack of Australian aviation experience - it's not necessarily a significant factor. Afterall Kerry's son is a director of the White Rat.

[topend3]

Services to KNX recently announced and begin early April. This is an interesting one as the a/c ops PER-GYL-KNX, a portion of the seats are sold to Argyle Diamonds and the rest of the seats are open space for the KNX service.

Twice a week, Monday-Friday. They should do OK with this as all QFLink do at present is once a week in the dry with a crappy 146, maybe this will change when they get the Boeings.

They should also take some crucial share off Airnorth as many KNX residents currently have to fly KNX-BME-PER on the Bras/146.

[slice]

Have they been hiring Aircrew lately ?

[scramjet77]

Crappy 146 you say topend3, let's see what sought of a load they can pull out on a hot day?

[Capn Bloggs]

SJ77,

The Fukka will lift more than the VERY crappy 146-200s, esp when they only have to get to 2300m-ARG for the haul back tp PER. Back in your box, sunshine! ;)

[topend3]

very true.

fyi scramjet on one of the days the f100 will go per-knx direct and call in at gyl on the way back, on the other day it goes per-gyl-knx and knx-per direct on the return leg.

the 146-200 in fact does not have the legs to make it knx-per direct, qflink put in a tech stop at newman (zne) on their routes in the dry.

so who's got the crappy jet?

[The Voice]

umm .. if memory serves me correctly, didn't Ansett W.A. operate a direct svc Argyle (just down the track a bit from KU) to PH with 146's?

[flyingfox]

All true about the 146-200, but then if Argyle were paying Qantaslink for seats they would probably get the 146-300++ which is more capable. (Bigger and with better engines)

[Capn Bloggs]

Slice old fruit,

umm .. if memory serves me correctly, didn't Ansett W.A. operate a direct svc Argyle (just down the track a bit from KU) to PH with 146's?

They also did KNX DCT PER in the -200, but, as related to me by a military man with the surname of Klink, because they had a service almost every day, they capped each flight so they could put on the gas required for the non-stopper. There were plenty of seats to go round over the week and all got to PER in one hop.

[Capt Claret]

Didn't the AN 146s also have panier tanks? Only an extra tonne but ...

[boocs]

Indeed CC.
VH-JJW, MTOW 42.1, MLW 36.7 with 10.2 tonne fuel.
JJQ/P also had 10.2 tonnes, but MTOW of 40.6 and MLW 35.1.

[cunninglinguist]

Actually, fuel was not normally the problem since the 300 carries exactly the same amount.
Lifting the fuel out of KU when it was over about 25C was a problem.
Having said that, fuel was a problem with strong headwinds and holding in PH.
Be interesting to see how the " crappy " 717 goes ;)

Oh, and Topend, we were stuck behind your " crappy " F50s coming into PH for years, so easy...................:p