Skywest Airlines- Scheduled charter arrangement with Citic Pacific Mining
10-03-2010

SKYWEST AIRLINES LTD

("Skywest" or "the Company")

SCHEDULED CHARTER ARRANGEMENT WITH CITIC PACIFIC MINING

The Board of Skywest, the Australian and South East Asia regional airline, is delighted to advise that it has signed an agreement with CITIC Pacific Mining Management Pty Ltd (ACN 119 578 371) (“CITIC Pacific Mining”) for a scheduled airline service between Perth and Karratha for employees of CITIC Pacific Mining.

The Agreement’s scope and revenue may increase should additional services be required and scheduled. The agreement provides for anticipated revenues to Skywest of AUD $10.4m per year. The Agreement is for an initial term of a year with a term extension option available to CITIC Pacific Mining and has terms typical for such charter arrangements. The Agreement is subject to monthly fuel rise and fall calculations.   

Skywest is the major airline servicing all major airports and population centres of Western Australia. The Company’s operational base is in Perth, Australia.

Jeff Chatfield, Executive Chairman, said:

“We are pleased to enter into an agreement with an important mining operator in CITIC Pacific Mining. Skywest aims to provide world class reliable air transport services to the major mining operators in Western Australia. This arrangement is also important as it also allows 10% of the seats to be sold to regular travelling members of the public flying to and from Karratha.”

CITIC Pacific Mining is an Australian subsidiary of CITIC Pacific Limited, a Hong Kong incorporated company listed on the Hong Kong Stock Exchange. Its key business interests include property development, specialty steel and iron ore mining. Its majority shareholder is the CITIC Group, a large diversified Chinese state-owned enterprise.

--ENDS--

Enquiries:

Skywest Airlines Ltd    
Jeff Chatfield, Executive Chairman                                                 07783 942553

Financial Public Relations

Bishopsgate Communications                                                         0207 562 3350
Nick Rome/ Will Tindall/ Giang Nguyen

skywest@bishopsgatecommunications.com

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