4 unchanged sentences
We bear the economic risk of fuel price fluctuations on our prorate operations.
−Removed: For the nine months ended September 30, 2022, approximately 12.0% of our total flying agreements revenue was derived from prorate agreements.
−Removed: For the nine months ended September 30, 2022, the average price per gallon of aircraft fuel was $4.13.
+Added: For the three months ended March 31, 2023, approximately 11.6% of our total flying agreements revenue was derived from
+Added: prorate agreements.
+Added: For the three months ended March 31, 2023, 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 $21.3 million in fuel expense for the nine months ended September 30, 2022.
+Added: Based on this hypothetical assumption, we would have incurred an additional $5.2 million in fuel expense for the three months ended March 31, 2023.
Interest Rates
−Removed: As of September 30, 2022, our long-term debt had fixed interest rates.
−Removed: We currently intend to finance the acquisition of new aircraft through manufacturer financing or long-term borrowings.
−Removed: Changes in interest rates may impact the actual cost to us to acquire future aircraft.
+Added: As of March 31, 2023, our long-term debt had fixed interest rates.
+Added: We currently intend to finance the acquisition of aircraft through manufacturer financing or long-term borrowings.
+Added: Changes in interest rates may impact our actual cost to acquire future aircraft.
To the extent we place new aircraft in service under our capacity purchase agreements with United, Delta, American, Alaska or other carriers, our capacity purchase agreements currently provide that reimbursement rates will be adjusted to reflect the interest rates effective at the closing of the respective aircraft financing.
1 unchanged sentence
Labor and Inflation Risk
−Removed: 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 42.5% of our total operating expense for the nine months ended September 30, 2022.
−Removed: 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.
−Removed: 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.
−Removed: The amended collective bargaining agreement is anticipated to result in an increase to our pilot costs.
−Removed: 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.
−Removed: Our inability or failure to offset a material increase in costs due to inflation and/or labor
−Removed: costs could harm our business, financial condition, and operating results.
+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 48.1% of our total operating expense for the three months ended March 31, 2023.
+Added: For illustrative purposes, a hypothetical increase of 25% to our salaries, wages and benefits during the three months ended March 31, 2023, would have increased our operating expenses by approximately $83.8 million.
+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.
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.