6 unchanged sentences
For the years ended December 31, 2022, 2021 and 2020, the average price per gallon of aircraft fuel was $4.14, $2.49 and $1.89, respectively.
−Removed: For illustrative purposes only, we have estimated the impact of the market risk of fuel on our prorate operations using a hypothetical increase of 25% in the price per gallon we purchase.
+Added: For illustrative purposes only, we have estimated the impact of the market risk of fuel fluctuations on our prorate operations using a hypothetical increase of 25% in the price per gallon we purchase.
Based on this hypothetical assumption, we would have incurred an additional $27.1 million, $26.8 million and $15.4 million in fuel expense for the years ended December 31, 2022, 2021 and 2020, respectively.
5 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
−Removed: We do not believe that inflation has had a material effect on our business, financial condition, or results of operations.
−Removed: If our costs become subject to significant inflationary pressures, we may not be able to fully offset such higher costs through price increases.
−Removed: Our inability or failure to do so could harm our business, financial condition, and operating results.
+Added: Labor and Inflation Risk
+Added: The global economy has experienced, and continues to experience high rates of inflation.
+Added: We cannot predict how long these inflationary pressures will continue, or how they may change over time, but we expect to see continued impacts on the global economy and our Company.
+Added: As a result, our costs have become, and we expect they will continue to be, subject to significant inflationary pressures, and we may not be able to fully offset such higher costs through price increases under our capacity purchase agreements.
+Added: Salaries, wages and benefits expense represented 42.9% of our total operating expense for year ended December 31, 2022.
+Added: For illustrative purposes, a hypothetical increase of 25% in our salaries, wages and benefits during the year ended December 31, 2022, would have increased our operating expenses by approximately $302.9 million.
+Added: In September 2022, we amended our collective bargaining agreement with our pilots, which was in effect for only a portion of the year ended December 31, 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: During the year ended December 31, 2022, we
+Added: amended our capacity purchase agreements with certain major airline partners that resulted in higher compensation for our increased pilot pay rates.
+Added: Our inability or failure to offset a material increase in costs due to inflation and/or labor 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.