4 unchanged sentences
We bear the economic risk of fuel price fluctuations on our prorate operations.
−Removed: For the three months ended March 31, 2022, approximately 11.2% of our total flying agreements revenue was derived from prorate agreements.
−Removed: For the three months ended March 31, 2022, the average price per gallon of aircraft fuel was $3.40.
+Added: For the six months ended June 30, 2022, approximately 11.7% of our total flying agreements revenue was derived from prorate agreements.
+Added: For the six months ended June 30, 2022, the average price per gallon of aircraft fuel was $4.01.
For illustrative purposes only, we have estimated the impact of the market risk of fuel price fluctuations on our prorate operations using a hypothetical increase of 25% in the price per gallon we purchase.
−Removed: Based on this hypothetical assumption, we would have incurred an additional $6.3 million in fuel expense for the three months ended March 31, 2022.
+Added: Based on this hypothetical assumption, we would have incurred an additional $14.2 million in fuel expense for the six months ended June 30, 2022.
Interest Rates
−Removed: As of March 31, 2022, our long-term debt had fixed interest rates.
+Added: As of June 30, 2022, our long-term debt had fixed interest rates.
We currently intend to finance the acquisition of new aircraft through manufacturer financing or long-term borrowings.
4 unchanged sentences
If our costs become subject to significant inflationary pressures, we may not be able to fully offset such higher costs through price increases under our capacity purchase agreements.
−Removed: Salaries, wages and benefits expense represented 43.9% of our total operating expense for the three months ended March 31, 2022.
−Removed: For illustrative purposes, a hypothetical increase of 25% in our salaries, wages and benefits during the three months ended March 31, 2022, would have increased our operating expenses by approximately $75.0 million.
+Added: Salaries, wages and benefits expense represented 42.2% of our total operating expense for the six months ended June 30, 2022.
+Added: For illustrative purposes, a hypothetical increase of 25% in our salaries, wages and benefits during the six months ended June 30, 2022, would have increased our operating expenses by approximately $147.2 million.
+Added: Our collective bargaining agreement with our pilots becomes amendable December 31, 2022.
+Added: We intend to negotiate a new agreement with our pilots prior to December 31, 2022, which would likely result in an increase to our salaries, wages and benefits expense.
Our inability or failure to offset a material increase in costs due to inflation could harm our business, financial condition, and operating results.
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.