Skywest Airlines Ltd : Dealings Disclosure

ASX code SXR AIM code SKYW 20 December 2012 PROPOS ED ACQUISITION BY VIRGI N AUSTRALIA HOL DINGS LTD (T HE "OFF EROR") OF ALL THE ISSUED SHARES IN T HE CAPITAL OF SKYWEST AIRLINES LT D (T HE "COMPANY") BY WAY OF A SCHEME OF ARRANGEM ENT - DEALI NGS DIS CLOS URE 1. Introduction

Cent aurus Global Holdi ng Limited (" Centauru s") refers to the announcem ents made on 30
October 2012 and 6 December 2012 by the Com pany and the Offeror i n relati on to the Offeror's proposed acquisition of all the issued shares (" Skywest Shares" ) in the capital of the Com pany by way of a scheme of arrangement under Section 210 of the Companies Act (Chapter 50) of Singapore.

2. Dealings in Skywest Shares

Pursuant to Rul e 12. 1 of The Si ngapore Code on Take -overs and M ergers, Centaurus hereby gi ves notice of the following deali ngs in Skywest Shares by Centaurus Capital LP 1, a relat ed entity of Centaurus, for the account of funds managed by Centaurus Capital LP, on 19
Decem ber 2012:

Date of purcha se	19 December 2012
Total number of Skywe st Share s purcha sed	1,000, 0002
Percentage of total number of Skywest Share s in issue 3	0.47%
Price paid per Skywest Share (excluding brokerage commission, clearing fees and applicable tax)	AUD0.42
Resultant to tal number of Skywest Share s owned or controlled by Centauru s Capital LP	15,166,2304

Resultant to tal percentage of total number of Skywest Shares in issue owned or controlled by Centauru s Capital LP

7.12%

1.Centaurus is the sole s hareholder of Centaurus Capital Lim ited, the general partner of Centaurus Cap ital LP. Centaurus is in turn wholly-owned by Bernard Oppetit.

2.The s ecurities purchased are Chess Depos itary Interes ts lis ted on the Aus tralian Stock Exchange.

3.References in this letter to the total num ber of Sk ywes t Shares in iss ue are based on 213,04 0,000 Skywes t

Shares in the s hare capital of the Com pany.

4. Thes e interes ts are held through Chess Depositary Interes ts lis ted on the Aus tralian Stock Exchange in respect of 15,166,230 Skywes t Shares .

3. Aggregate Holding of the Centauru s Gro up in the Company

Taking into account the dealing referred to above, as at 19 December 2012, details of securities of the Com pany owned or controll ed by Centaurus and its related entities are as
follows:

Name of entity	Number of Securities	Percentage of total number of Skywest Shares in issue 5	Other Particulars
Cent aurus Capit al LP	15,166,230	7.12%	Skywest Shares are owned by funds under the discretionary managem ent of Cent aurus Capital LP.
Cent aurus Capit al LP	Cont racts for Difference ("CF Ds") relating to 340,000 Skywest Shares	0.16%	CFDs are held by funds under the discretionary managem ent of Cent aurus Capital LP.
Total:	15,506,230	7.28%

5.An y dis crepancies in the percentages lis ted and the totals thereof are due to rounding.

4. Dealings in Shares in the Capital of the Offeror

Pursuant to Rul e 12. 1 of The Si ngapore Code on Take -overs and M ergers, Centaurus hereby gi ves notice of the following dealings in the issued shares ("Offeror Shares") i n the capital of the Offeror by Centaurus Capital LP, a related entity of Cent aurus, for the account of funds managed by Centaurus Capital LP, on 19 Dec ember 2012:

Date of sale	19 December 2012
Total number of Offeror Share s sold	530,000
Percentage of total number of Offeror Shares in i ssue 6	0.022%
Price paid per Offeror Share (excluding brokerage commission, clearing fees and applicable tax)	AUD0.4075
Resultant to tal number of Offeror Shares owned or controlled by Centauru s Capital LP	Nil
Resultant to tal percentage of total number of Offeror Shares in issue owned or controlled by Centauru s Capital LP	Nil

Note: None of the funds managed by Cent aurus Capital LP hold any Offeror Shares. The Offeror Shares which were sold pursuant to the transactions described above were borrowed from third party securities lenders.

6.References in this letter to the total num ber of Offeror Shares in iss ue are bas ed on 2,455,774,902 Offeror

Shares in the s hare capital of the Offeror.

5. Aggregate Holding of the Centauru s Gro up in the Offeror

Taking into account the deali ng referred to above, as at 19 December 2012, details of the
Offeror Shares owned or controlled by Centaurus and its related entities are as follows:

Name of entity	Number of Offeror Shares	Percentage of total number of Offeror Shares in issue 7
Cent aurus	Nil	Nil

Capit al LP

7.An y dis crepancies in the percentages lis ted and the totals thereof are due to rounding.

Any enqui ries rel ating to this Announcem ent or the Scheme shoul d be di rected duri ng office hours to:

Skywest Airlines Ltd

Jeff Chatfiel d, Executi ve Chai rman [phone]

Nominated Advi ser

Jam es Joyce, W H Irel and Limited [phone]

Company Stockbro ker

W H Irel and Limited [phone]

Financial Public Relations

Bishopsgate Comm unications [phone]
Nick Rome
skywest@bishopsgatecomm unications.com

Media Enquiries in Au stralia

Brian O'Dwyer [phone]
Websites www.skywest.com.au www.ad ve nt.com.sg www.skywest.com.sg