4 unchanged sentences
We bear the economic risk of fuel price fluctuations on our prorate and SWC operations.
−Removed: For the six months ended June 30, 2024, approximately 12.9% of our total flying agreements revenue was derived from prorate agreements and SWC.
−Removed: For the six months ended June 30, 2024, the average price per gallon of aircraft fuel was $3.42.
+Added: For the nine months ended September 30, 2024, approximately 13.2% of our total flying agreements revenue was derived from prorate agreements and SWC.
+Added: For the nine months ended September 30, 2024, the average price per gallon of aircraft fuel was $3.30.
For illustrative purposes only, we have estimated the impact of the market risk of fuel price fluctuations on our prorate and SWC 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 $10.6 million in fuel expense for the six months ended June 30, 2024.
+Added: Based on this hypothetical assumption, we would have incurred an additional $16.3 million in fuel expense for the nine months ended September 30, 2024.
Interest Rates
−Removed: As of June 30, 2024, our long-term debt had fixed interest rates.
+Added: As of September 30, 2024, our long-term debt had fixed interest rates.
We currently intend to finance the acquisition of aircraft through manufacturer financing or long-term borrowings.
6 unchanged sentences
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.
−Removed: Salaries, wages and benefits expense represented 48.6% of our total operating expense for the six months ended June 30, 2024.
−Removed: For illustrative purposes, a hypothetical increase of 25% to our salaries, wages and benefits during the six months ended June 30, 2024, would have increased our operating expenses by approximately $176.5 million.
+Added: Salaries, wages and benefits expense represented 48.5% of our total operating expense for the nine months ended September 30, 2024.
+Added: For illustrative purposes, a hypothetical increase of 25% to our salaries, wages and benefits during the nine months ended September 30, 2024, would have increased our operating expenses by approximately $270.9 million.
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.
1 unchanged sentence
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.