Regional airline Skywest says it is confident of further growth despite notching a fall in net profit for the year ended June 30.
Skywest said net profit for the 12 months ended June 30 was $S7.1 million ($5.4 million), down from $S9.8 million ($7.5 million) in FY2011.
Revenue was up 26 per cent, to $S303 million ($234.8 million), while the profit result was the seventh consecutive year in the black for the airline.
Skywest said it expected growth in Fy13 to come primarily from its charter services division.
“Skywest expects to continue expanding the charter business in response to customer requests for additional contracts and adhoc flights.
“Charter revenue is anticipated to continue to grow, however charter contract commitments will be closely aligned with fleet availability to minimise cross hiring.”
The airline said it would increase its fleet to 32 aircraft by June 30, 2013.
“The company continues to explore opportunities to acquire more aircraft to meet growing charter demand,” Skywest said.
At close of trade today, Skywest’s ASX-listed shares were up 3.6 per cent, trading at 28.5 cents.