SKYW · CIK 793733
What SkyWest, Inc. told the SEC could break it.
SkyWest's sharpest exposure is its dependence on two airline partners. Its capacity-purchase relationships with Delta and United combined accounted for about 70% of total revenue in 2025, so the loss, non-renewal or material reduction of either's flying would severely hit it. Its fleet adds supply-side concentration: it depends on a few certified OEMs — Bombardier, Embraer and General Electric — for replacement parts and maintenance of its CRJ and E-jet aircraft, and because those airframes and many components come from Canada and Brazil, U.S. tariffs could raise the cost of the parts and supplies it sources internationally.
3 self-disclosed vulnerabilities, pulled from its own filings, each in the company’s words, with the source. This is the risk register almost nobody reads.
In its own words
What could break it.
Customer concentration
- Delta + United = ~70% of total revenuehigh
SkyWest's revenue is highly concentrated in its capacity-purchase relationships with two major-airline partners: Delta and United combined accounted for approximately 70.3% of total revenue in 2025 (72.3% in 2024, 70.9% in 2023). Loss, non-renewal or material reduction of either Delta Connection or United Express flying would severely impact revenue.
“the Company's contractual relationships with Delta and United combined accounted for approximately 70.3 %, 72.3 % and 70.9 %, respectively of the Company's total revenues.”
SEC filing →As of 2026
Regulatory & policy
- Tariffs on internationally-sourced aircraft parts & suppliesmedium
Enacted and proposed U.S. tariffs could raise the cost of aircraft parts and supplies sourced internationally (its CRJ/E-jet airframes and many components come from Canada and Brazil) and of service providers located outside the U.S., while also weighing on macro conditions and passenger demand.
“the impact of enacted and proposed U.S. tariffs on global economic conditions and the financial markets, passenger demand, the cost of aircraft parts and supplies sourced internationally and the cost of service providers located outside of the United States”
Supplier concentration
- Dependence on a few certified OEMs (Bombardier, Embraer, GE) for parts & maintenancemedium
SkyWest depends on a limited group of certified manufacturers — Bombardier, Embraer and General Electric — for replacement parts and maintenance/support services for its CRJ and E-jet fleet; their failure or inability to provide sufficient parts or support on a timely basis would ground aircraft and disrupt its contracted flying.
“by the failure or inability of Bombardier, Embraer, General Electric or other certified replacement part companies to provide sufficient parts or related maintenance and support services to us on a timely manner.”
SEC filing →As of 2026
The hidden graph
Who it depends on, and who depends on it.
Relationships surfaced from filings, including ones disclosed by the other side, which is how the non-obvious ones come to light.
Its customers
“Regional operations include passenger service on E175 aircraft operated by Horizon and third-party carrier SkyWest under CPAs with Alaska, primarily in the states of Washington, Oregon, California, Alaska, and Idaho.”
Cited →“the Company's contractual relationships with Delta and United combined accounted for approximately 70.3 %, 72.3 % and 70.9 %, respectively of the Company's total revenues.”
Cited →United Airlines Holdings, Inc.
“the Company's contractual relationships with Delta and United combined accounted for approximately 70.3 %, 72.3 % and 70.9 %, respectively of the Company's total revenues.”
Cited →
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