Regional airline operator SkyWest (NASDAQ: SKYW) surprised markets with a fourth-quarter loss. A good bit of the difference between what was earned and what was expected comes down to accounting, but investors were in no mood to sort out the details.

Shares of SkyWest fell as much as 24% on Friday and were down about 16% in late-day trading, as investors recalibrated expectations following the negative surprise.

SkyWest flies small planes under agreements with larger airline partners. It's usually a pretty stable business, but investors were caught off guard by the company's latest results.

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Source Fool.com