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(a) See Note 7 to the Consolidated Financial Statements for more information on the Company's lease transactions.
−Removed: In fourth quarter 2023, the Company entered into supplemental agreements with Boeing relating to its contractual order book for -7 and -8 aircraft.
−Removed: These agreements, which include an extended order book to 2031, provide flexibility in support of the Company's growth plans and fleet modernization.
+Added: In second quarter and fourth quarter 2024, the Company entered into supplemental agreements with Boeing relating to its contractual order book for -7 and -8 aircraft.
+Added: These agreements provide flexibility in support of the Company's growth plans and fleet modernization.
The delivery schedule below reflects contractual commitments, although the timing of future deliveries could be affected by any potential or prolonged delays in the manufacturing process or with the -7 certification.
10 unchanged sentences
2031 45 — 45 90
−Removed: 2031 45 — 45 90
296 (a) 196 (b) 180 672
−Removed: (a) The delivery timing for the -7 is dependent on the FAA issuing required certifications and approvals to Boeing and the Company.
+Added: (a) The delivery timing for the -7 is dependent on the Federal Aviation Administration ("FAA") issuing required certifications and approvals to Boeing and the Company.
The FAA will ultimately determine the timing of the -7 certification and entry into service, and the Company therefore offers no assurances that current estimations and timelines are correct.
(b) The Company has flexibility to designate firm orders or options as -7s or -8s, upon written advance notification as stated in the contract.
−Removed: (c) The Company currently plans for approximately 79 MAX aircraft deliveries in 2024.
+Added: (c) The Company has included the remaining 63 of its 2024 contractual but undelivered aircraft (27 -7s and 36 -8s) within its 2025 contractual commitments.
+Added: As Boeing continues to ramp up production and works to certify the -7, the Company is currently using a planning assumption of 38 -8 aircraft deliveries in 2025.
+Added: The 2025 contractual detail is as follows:
+Added: The Boeing Company
+Added: -7 Firm Orders -8 Firm Orders Total
+Added: 2024 Contractual Deliveries 27 36 63
+Added: 2025 Contractual Deliveries 43 30 73
+Added: 2025 Combined Contractual Total 70 66 136
Ground Facilities and Services
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The Company leases the land and/or structures on a long-term basis for its aircraft maintenance centers (located at Dallas Love Field, Houston Hobby, Phoenix Sky Harbor, Chicago Midway, Hartsfield-Jackson Atlanta International Airport, Denver International Airport, and Orlando International Airport) and its main corporate headquarters building, also located near Dallas Love Field.
−Removed: Company also leases a warehouse and engine repair facility in Atlanta.
−Removed: The Company has announced its intent to build a new aircraft maintenance facility, expected to be completed in 2025, at Baltimore-Washington International Airport.
−Removed: The Company owns two additional headquarters buildings, located across the street from the Company's main headquarters building, on land owned by the Company, including (a) an energy efficient, modern building, called TOPS, which houses certain operational and training functions, including the Company's 24-hour operations and (b) the Wings Complex, consisting of a Leadership Education and Aircrew Development (“LEAD”) Center (housing the Company's 26 Boeing 737 flight simulators and classroom space for Pilot training), an additional office building, and a parking garage.
+Added: The Company also leases a warehouse and engine repair facility in Atlanta.
+Added: The Company has begun construction on a new aircraft maintenance facility, expected to be completed in 2025, at Baltimore-Washington International Airport.
+Added: In 2024, the Company completed a multi-year, $100 million project, which nearly doubled the size of the Company’s maintenance hangar at Phoenix Sky Harbor.
+Added: The 90,000 square foot expansion added three new aircraft bays to the facility.
+Added: The Company owns two additional headquarters buildings, located across the street from the Company's main headquarters building, on land owned by the Company, including (i) an energy efficient, modern building, called TOPS, which houses certain operational and training functions, including the Company's 24-hour operations and (ii) the Wings Complex, consisting of a Leadership Education and Aircrew Development (“LEAD”) Center (housing the Company's 26 Boeing 737 flight simulators and classroom space for Pilot training), an additional office building, and a parking garage.
The Company has commitments associated with various airport improvement projects, including construction at Houston Hobby International Airport.
This project includes the construction of new facilities and the rebuilding or modernization of existing facilities.
+Added: Construction on the project has begun, and the Company expects construction to be completed in 2027.
In April 2023, the Company executed a ground lease agreement with Los Angeles World Airports (“LAWA”) at Los Angeles International Airport (LAX) which provides the Company the right to construct a 9-gate concourse (Concourse 0) adjacent to Terminal 1.
−Removed: The Company expects to manage the design, development, financing, construction, and commissioning of the project, and expects to commence construction in early 2025 with construction to be complete in late 2028 or early 2029.
+Added: The Company expects to manage the design, development, financing, construction, and commissioning of the project, and expects to commence construction in 2028 with construction to be completed in 2032.
Prior to commencement of construction, LAWA and the Company will need to agree on scope and budget and have financing in place.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.