* Net income rises 9.2 percent

* Lower costs, more flying hours boost results

* SkyWest shares jump 5 pct on Nasdaq (Recasts with stock activity, analyst comment)

NEW YORK, Nov 5 (Reuters) - Regional airline SkyWest Inc (SKYW.O: Quote, Profile, Research) posted higher quarterly earnings on Thursday, exceeding analysts' expectations, helped by a drop in fuel costs, and its shares rose as much as 7 percent.

The carrier's net income rose 9.2 percent to $28.6 million, or 50 cents per share, from $26.2 million, or 45 cents per share, a year earlier.

Analysts, on average, expected a profit of 45 cents per share, according to Thomson Reuters I/B/E/S.

Revenue fell to $637.8 million, missing analysts' forecast of $781.3 million. Expenses cropped by roughly one-third.

Shares of SkyWest rose as high as $14.99 on the Nasdaq. They were 5 percent higher in afternoon trading at $14.71.

St. George, Utah-based SkyWest said the number of hours it flew during the quarter rose 3.2 percent.