Risk Factors Update Summary
- Added details on risks related to joint ventures with airlines, including DOT renewal applications.
- Added third-party to risk factors, emphasizing potential liability from third-party service providers.
- Added details on financial and other covenants in debt agreements, potential default consequences.
- Fuel costs represented 21%, 24%, and 20% of operating expenses in 2023, 2022, and 2021, respectively.
- Added concerns about disruptions in refining capacity and environmental events impacting operations.
- Added risks related to impairment of long-lived assets and refinancing efforts for significant indebtedness.
- Average annual fuel price per gallon increased from $2.82 to a range of $1.64 to $3.18.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=27904&owner=exclude
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