4 unchanged sentences
We bear the economic risk of fuel price fluctuations on our prorate operations.
−Removed: For the six months ended June 30, 2022, approximately 11.7% of our total flying agreements revenue was derived from prorate agreements.
−Removed: For the six months ended June 30, 2022, the average price per gallon of aircraft fuel was $4.01.
+Added: For the nine months ended September 30, 2022, approximately 12.0% of our total flying agreements revenue was derived from prorate agreements.
+Added: For the nine months ended September 30, 2022, the average price per gallon of aircraft fuel was $4.13.
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 $14.2 million in fuel expense for the six months ended June 30, 2022.
+Added: Based on this hypothetical assumption, we would have incurred an additional $21.3 million in fuel expense for the nine months ended September 30, 2022.
Interest Rates
−Removed: As of June 30, 2022, our long-term debt had fixed interest rates.
+Added: As of September 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.
2 unchanged sentences
A hypothetical 50 basis point change in market interest rates would not have a material effect on our financial results.
−Removed: Inflation Risk
+Added: Labor and Inflation Risk
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 42.2% of our total operating expense for the six months ended June 30, 2022.
−Removed: 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.
−Removed: Our collective bargaining agreement with our pilots becomes amendable December 31, 2022.
−Removed: 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.
−Removed: Our inability or failure to offset a material increase in costs due to inflation could harm our business, financial condition, and operating results.
+Added: Salaries, wages and benefits expense represented 42.5% of our total operating expense for the nine months ended September 30, 2022.
+Added: For illustrative purposes, a hypothetical increase of 25% in our salaries, wages and benefits during the nine months ended September 30, 2022, would have increased our operating expenses by approximately $224.1 million.
+Added: In September 2022, we amended our collective bargaining agreement with our pilots, which was in effect for only a portion of our results for the three months ended September 30, 2022.
+Added: The amended collective bargaining agreement is anticipated to result in an increase to our pilot costs.
+Added: For illustrative purposes, under SkyWest Airlines’ amended collective bargaining agreement, the first-year pay rate for first officers increased from approximately $46/flight hour to $90/flight hour and the first-year CRJ and E175 captain pay rate increased from approximately $76/flight hour and $81/flight hour, respectively, to $140/flight hour for both CRJ and E175 captains.
+Added: Our inability or failure to offset a material increase in costs due to inflation and/or labor
+Added: costs could harm our business, financial condition, and operating results.
+Added: Additionally, in the event we are unable to hire and retain qualified pilots or other operational personnel, including flight attendants and maintenance technicians, we may be unable to operate requested flight schedules under our capacity purchase agreements, which could result in a reduction in revenue and operating inefficiencies, such as incremental new-hire training costs, and 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.