3 unchanged sentences
As discussed in Note 3 to the unaudited Condensed Consolidated Financial Statements, the Company discontinued its fuel hedging program in
−Removed: During second quarter 2025, the Company terminated its remaining portfolio of fuel hedging contracts, which were scheduled to settle through 2027, to effectively close its fuel hedging portfolio.
−Removed: Consequently, the Company is fully exposed to fluctuations in fuel prices.
−Removed: The Company currently expects to consume approximately 550 million gallons of jet fuel in the fourth quarter of 2025, and therefore a one-cent per gallon change in the price of aircraft fuel would change the Company’s Fuel and oil expense for such period by approximately $5.5 million.
−Removed: As of September 30, 2025, the Company had no cash collateral provided to or held from derivative counterparties and thus had no cash collateral exposure.
+Added: During second quarter 2025, the Company terminated its remaining portfolio of fuel hedging contracts, which were scheduled to settle through 2027, to effectively close its fuel hedging portfolio and program.
+Added: Consequently, the Company is fully exposed to fluctuations in fuel prices, as is common in the airline industry.
+Added: The Company currently expects to consume approximately 555 million gallons of jet fuel in the second quarter of 2026.
+Added: Based on this anticipated usage, a change in jet fuel prices of one-cent per gallon would impact the Company’s Aircraft fuel and related taxes expense by $5.6 million for second quarter 2026.
+Added: As of March 31, 2026, the Company had no cash collateral provided to or held from derivative counterparties and thus had no cash collateral exposure.
See Note 3 to the unaudited Condensed Consolidated Financial Statements.
4 unchanged sentences
Under these processing agreements, and based on specified conditions, increasing amounts of cash reserves could be required to be posted with the counterparty.
−Removed: There was no cash reserved for this purpose as of September 30, 2025.
+Added: There was no cash reserved for this purpose as of March 31, 2026.
A majority of the Company’s sales transactions are processed by Chase Paymentech.
2 unchanged sentences
Cash reserve requirements are based on the Company’s public debt rating and a corresponding percentage of the Company’s Air traffic liability.
−Removed: As of September 30, 2025, no cash holdbacks were in place.
−Removed: See Item 7A "Quantitative and Qualitative Disclosures About Market Risk" in the Company's Annual Report on Form 10-K for the year ended December 31, 2024, for further information about market risk, and Note 3 to the unaudited Condensed Consolidated Financial Statements in this Form 10-Q for further information about the Company's fuel derivative instruments.
+Added: As of March 31, 2026, no cash holdbacks were in place.
+Added: See Item 7A "Quantitative and Qualitative Disclosures About Market Risk" in the Company's Annual Report on Form 10-K for the year ended December 31, 2025, for further information about market risk, and Note 3 to the unaudited Condensed Consolidated Financial Statements in this Form 10-Q for further information about the Company's derivative instruments.
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.