American Airlines exercises 24 of its 40 options and places aircraft with its Dayton-based wholly owned regional carrier
DAYTON, Ohio – PSA Airlines has been selected by American Airlines to operate 24 new Bombardier CRJ900 NextGen aircraft. This aircraft assignment to PSA follows American exercising 24 of its 40 CRJ900 NextGen aircraft options. The options were originally acquired as part of American’s large regional jet order announced in December 2013.
“We are pleased to add these new aircraft to our growing fleet and see the award as a reflection of American’s continued confidence in PSA to provide friendly, reliable and cost-effective regional services for American’s customers,” said Dion Flannery, president of PSA Airlines. “We are proudly building, from a foundation of strength, one of the largest regional service providers for the world’s largest airline.”
PSA will induct the 24 additional CRJ900 NextGen aircraft beginning in November 2015, with all aircraft being received by August 2016. These modern and fuel-efficient aircraft will be operated under the American Eagle brand and will provide American’s customers with a seamless transition between mainline and regional flights. The CRJ900 NextGen aircraft offers modern cabin elements including oversized overhead bins, all-leather seating and inflight Wi-Fi. The 76-seat jet features a two-class configuration with 12 First Class, 36 Main Cabin Extra and 28 Main Cabin seats, allowing American to offer an unsurpassed regional customer experience in its most competitive markets.
“Having fostered a relationship that spans over 15 years, Bombardier is proud to once again stand alongside American and its regional subsidiary PSA Airlines as PSA prepares to integrate an additional 24 CRJ900 NextGen aircraft into its fleet – a move that will add another chapter to PSA’s rich aviation heritage,” said Mike Arcamone, president of Bombardier Commercial Aircraft. “We congratulate PSA on its recent successes and we are thrilled to see this award-winning airline reaching new heights with its CRJ900 NextGen aircraft – equipped with the latest enhancements allowing operational flexibility, best-in-class customer comfort along with significant operating cost savings.”
Since 2013, PSA has experienced significant fleet and job growth. During this time the carrier, which is a wholly owned subsidiary of American Airlines Group operating an all Bombardier fleet, has announced the addition of these 24 CRJ900 NextGen aircraft, 30 previously announced CRJ900s NextGen aircraft and 47 CRJ700s. PSA’s fleet growth has resulted in more than 700 newly hired employees in the past year and a multitude of career and advancement opportunities for every workgroup. PSA’s pilot training program is recognized as one of the industry’s best, preparing crew members for a career with a rapidly expanding fleet of state-of-the-art regional jets. The company’s 1,900 employees currently operate nearly 400 daily flights to more than 80 destinations.
Headquartered in Dayton, Ohio, PSA has flight crew bases located in Dayton, Knoxville, Tennessee, and Charlotte, North Carolina, and maintains maintenance facilities in Dayton and Akron/Canton, Ohio, as well Charlotte.
About American Airlines Group
American Airlines Group (NASDAQ: AAL) is the holding company for American Airlines and US Airways and three wholly owned regional carriers, including PSA Airlines, Inc. Together with wholly owned and third-party regional carriers operating as American Eagle and US Airways Express, the airlines operate an average of nearly 6,700 flights per day to 339 destinations in 54 countries from its hubs in Charlotte, Chicago, Dallas/Fort Worth, Los Angeles, Miami, New York, Philadelphia, Phoenix and Washington, D.C. The American Airlines AAdvantage and US Airways Dividend Miles programs allow members to earn miles for travel, vacation packages, car rentals, hotel stays and everyday purchases. Members of both programs can redeem miles for tickets as well as upgrades to First Class and Business Class. In addition, AAdvantage members can redeem miles for vacation packages, car rentals, hotel stays and retail products. American is a founding member of the oneworld alliance, whose members and members-elect serve nearly 1,000 destinations with 14,250 daily flights to 150 countries. Connect with American on Twitter @AmericanAir and Facebook.com/AmericanAirlines.
Bombardier, CRJ900 and NextGen are trademarks of Bombardier Inc. or its subsidiaries.
Bombardier Delivers First Enhanced CRJ900 NextGen Regional Jet to American Airlines
– First of 30 to be operated by PSA Airlines – Enhanced CRJ900 NextGen aircraft offers up to 5.5 per cent lower fuel consumption than earlier-generation CRJ900 aircraft
MONTRÉAL, QUÉBEC–(Marketwired – June 6, 2014) – Bombardier Aerospace has delivered the first of 30 enhanced CRJ900 NextGen aircraft to American Airlines Group Inc. The aircraft will be operated by American Airlines Group wholly owned subsidiary PSA Airlines, Inc. under the American Eagle brand. The purchase agreement for the aircraft, which was announced in December 2013, also included options on an additional 40 CRJ900 NextGen aircraft.
Prior to yesterday’s delivery ceremony, the aircraft was unveiled to American Airlines employees and PSA Airlines employees at Dallas/Fort Worth International Airport and in Dayton, Ohio. Representatives of the media also had the opportunity to view the aircraft.
American Airlines is the first customer to take delivery of the enhanced CRJ900 NextGen regional jet, which provides up to 5.5 per cent fuel burn reduction over earlier-generation CRJ900 aircraft.
The delivery ceremony at Bombardier’s Mirabel, Québec, facility was attended by senior executives and employees of American Airlines, PSA Airlines, Bombardier and major suppliers to the CRJ Series regional jet program.
“We look forward to integrating the enhanced CRJ900 NextGen aircraft into our fleet and to expanding service for our customers,” said Keith Houk, President, PSA Airlines. “The new CRJ900 NextGen aircraft will provide us with new opportunities and signal a bright future for PSA.”
“This milestone delivery of the first enhanced CRJ900 NextGen aircraft further cements our long-standing relationship with American Airlines and we are pleased to welcome PSA Airlines as the latest operator to join the CRJ900 NextGen family,” said Ray Jones, Senior Vice President, Sales, Marketing and Asset Management, Bombardier Commercial Aircraft. “Both airlines have been operating Bombardier aircraft for more than 10 years and have helped the CRJ family of aircraft become the benchmark in regional aviation. We look forward to the aircraft’s imminent entry-into-service and congratulate American Airlines and PSA Airlines as they target their various markets with the right aircraft to meet the requirements of both business and leisure travellers.”
As of March 31, 2014, Bombardier had recorded firm orders for 1,817 CRJ Series aircraft, including 343 CRJ900 and CRJ900 NextGen aircraft. Worldwide, CRJ Series aircraft are in service with more than 60 airlines and more than 30 customers operate corporate variants of the aircraft. The aircraft are operating in more than 50 countries on six continents, and on average, a CRJ aircraft takes off every 10 seconds somewhere in the world. CRJ Series aircraft have transported more than 1.4 billion passengers and have logged more than 39 million flight hours and over 32 million takeoffs and landings.
About CRJ900 NextGen aircraft
Like other members of the CRJ Series family of aircraft, the light weight and advanced aerodynamics of the CRJ900 NextGen regional jet combine to deliver improved efficiency and reduced operating costs compared to other aircraft in its class. Since the launch of the earlier-generation CRJ900 aircraft, enhancements to the CRJ900 NextGen aircraft have resulted in up to 5.5 per cent fuel burn reduction.
In addition to offering significant fuel cost savings per aircraft, as well as outstanding operational flexibility, the CRJ900 NextGen aircraft provides customers with an improved experience that includes excellent legroom, bright cabins resulting from large windows and LED lighting as well as large overhead bins.
The CRJ900 NextGen aircraft’s advanced technologies include a conic-shaped exhaust nozzle that improves exhaust flow and reduces fuel consumption; various weight-saving initiatives; and a six-screen glass cockpit featuring the Rockwell Collins Pro Line IV integrated avionics suite, whose robust open architecture delivers reliable performance with growth capability to meet future communication, navigation, surveillance and air traffic management requirements.
Bombardier is the world’s only manufacturer of both planes and trains. Looking far ahead while delivering today, Bombardier is evolving mobility worldwide by answering the call for more efficient, sustainable and enjoyable transportation everywhere. Our vehicles, services and, most of all, our employees are what make us a global leader in transportation.
Bombardier is headquartered in Montréal, Canada. Our shares are traded on the Toronto Stock Exchange (BBD) and we are listed on the Dow Jones Sustainability World and North America Indexes. In the fiscal year ended December 31, 2013, we posted revenues of $18.2 billion. News and information are available at bombardier.com or follow us on Twitter @Bombardier.
Notes to editors
Images of CRJ900 NextGen aircraft in the livery of American Eagle is posted with this release at www.aero.bombardier.com. Additional information is available at www.crjnextgen.com.
Follow @Bombardier_Aero on Twitter to receive the latest news and updates from Bombardier Aerospace.
Bombardier, CRJ, CRJ900, NextGen and The Evolution of Mobility are trademarks of Bombardier Inc. or its subsidiaries.
Bombardier Commercial Aircraft
DAYTON, Ohio – PSA Airlines, Inc. today announced the company’s president and chief executive officer Keith Houk, after more than 25 years of outstanding service, has elected to retire from his current role. Succeeding Houk will be Dion Flannery, most recently president of US Airways Express.
Flannery’s appointment as president of PSA will be effective Aug. 31, 2014. After Aug. 31, Houk has agreed to continue to advise Flannery and the company on strategic matters through the end of 2014.
“Keith has played a tremendous role in the successes of PSA during his nine years leading the company,” said Kenji Hashimoto, senior vice president – regional carriers for American Airlines. “American and PSA owe Keith our gratitude for his service. Dion is a well-qualified and experienced successor to continue the growth of the high-quality and cost-effective operation Keith has established at PSA.”
“My time at PSA has been the highlight of my more than 40-year career in aviation and I will certainly miss the daily interaction with everyone at this fine company when I retire,” said Keith Houk. “With Dion’s strong leadership and knowledge of our business and the PSA’s team’s ability to run a top-notch regional airline, I know I will be leaving the company in capable hands to grow PSA well into the future.”
As president of US Airways Express, the regional network serving the legacy US Airways network, Flannery led initiatives designed to enhance coordination, efficiency and customer service levels across the Express partner operations. The US Airways Express network included more than 275 aircraft flown by eight regional carriers including PSA. His previous senior leadership experience includes serving as vice president – financial analysis for US Airways; vice president – scheduling and route planning at America West Airlines and senior director – long-range schedule planning at Continental Airlines. Dion holds a bachelor’s degree in advertising from the University of Texas-Austin and Master of Business Administration degree with a concentration in finance from the University of Houston.
PSA Airlines is a wholly owned subsidiary of American Airlines Group (NASDAQ: AAL). The company currently operates 35 Bombardier CRJ200 and 14 CRJ700 aircraft under the US Airways Express brand and livery. In June 2014, PSA will begin taking delivery of 30 new CRJ900 NextGen aircraft that it was awarded to fly by American Airlines in late 2013. These new CRJ900s will allow PSA to provide a new standard of comfort for passengers, while lowering the company’s operating costs with this modern and fuel-efficient 76-seat aircraft. Eventually, all PSA aircraft will fly under the American Eagle brand and livery as US Airways and American Airlines work to combine their networks following their December 2013 merger.
About PSA Airlines, Inc.
PSA Airlines, Inc. is a wholly owned subsidiary of the American Airlines Group (NASDAQ: AAL) operating an all-jet fleet consisting of exclusively Bombardier (CRJ) aircraft. The company’s 1,500 employees and 49 aircraft serve more than 65 destinations in over 20 states. Headquartered at the Dayton International Airport (DAY) in Ohio, PSA also has flight crew bases located in Knoxville, Tenn. and Charlotte, N.C. and maintains maintenance facilities in Dayton and Canton, Ohio, as well as a line maintenance base in Charlotte, N.C. PSA currently operates 35 CRJ200s and 14 CRJ700s aircraft under the US Airways Express brand and livery. In June 2014, PSA will begin taking delivery of 30 new CRJ900 NextGen aircraft.
About American Airlines Group
American Airlines Group (NASDAQ: AAL) is the holding company for American Airlines, US Airways and three regional airlines PSA, Envoy and Piedmont. Together with American Eagle and US Airways Express, the airlines operate an average of nearly 6,700 flights per day to 339 destinations in 54 countries from its hubs in Charlotte, Chicago, Dallas/Fort Worth, Los Angeles, Miami, New York, Philadelphia, Phoenix and Washington, D.C. The American Airlines AAdvantage and US Airways Dividend Miles programs allow members to earn and redeem miles for travel and everyday purchases as well as flight upgrades, vacation packages, car rentals, hotel stays and other retail products. American is a founding member of the oneworld® alliance, whose members and members-elect serve nearly 1,000 destinations with 14,250 daily flights to 150 countries. Connect with American on Twitter @AmericanAir and atFacebook.com/AmericanAirlines, and follow US Airways on Twitter @USAirways and at Facebook.com/USAirways.
New Bombardier CRJ900 NextGen and Embraer E175 Aircraft Will Replace Smaller, Less Efficient Regional Jets
FORT WORTH, Texas – American Airlines, Inc., a wholly owned subsidiary of American Airlines Group Inc., announced today that it has signed agreements with Bombardier Inc. and Embraer S.A. to purchase 90 new 76-seat regional jets. Consistent with American’s Plan of Reorganization and Merger Agreement, these aircraft will provide much improved economics for the airline as they will replace smaller, less efficient 50-seat regional aircraft scheduled for retirement.
“It’s been an exciting week for American Airlines,” said Kenji Hashimoto, senior vice president – Regional Carriers. “Now that we’ve closed our merger with US Airways, we can deliver a top-tier regional product that offers a First Class cabin, Main Cabin Extra and in-flight Wi-Fi – important elements of an improved flying experience for our customers. These new regional jets are also a big win for our employees at our regional subsidiary, and will greatly improve economic efficiencies by lowering operating costs.”
American has firm orders for 30 Bombardier CRJ900 NextGen aircraft, with options for up to 40 more. The CRJ900s will have 12 First Class, 32 Main Cabin Extra and 32 Main Cabin seats, and the firm order of CRJ900 aircraft will be operated on behalf of American by PSA Airlines, Inc., a wholly owned subsidiary of US Airways. American expects to begin taking delivery of the CRJ900s in the second quarter of 2014.
“We are looking forward to welcoming these new planes into the fleet next year,” continued Hashimoto. “PSA’s strong economics makes it a perfect fit for the
“On behalf of Bombardier, I congratulate longtime customers American Airlines and US Airways on their merger, and I am delighted that the Bombardier CRJ900 NextGen aircraft was selected for their current and future fleet requirements.” said Mike Arcamone, President, Bombardier Commercial Aircraft. “Bombardier’s ongoing enhancements to the CRJ aircraft program are resulting in operational flexibility along with significant operating cost savings – up to 5 per cent lower fuel burn compared to announced competitive, in-production jets in the same seat class, a reduced environmental impact that promotes sustainable aviation, as well as outstanding cabin amenities for passengers – all core priorities for today’s competitive airlines.”
American also has firm orders for 60 Embraer E175 type aircraft with options for up to 90 more. They will feature 12 First Class, 20 Main Cabin Extra and 44 Main Cabin seats, and American expects to begin taking delivery in the first quarter of 2015. The company will determine which regional carrier will fly the E175s at a later date. Both the CRJ900 and the E175 will fly in the American Eagle livery.
“We are delighted with this remarkable order from American Airlines, one of the most respected and renowned airlines worldwide. American achieved impressive results with the ERJ145 aircraft family, and we are sure that will continue with the E175, the most fuel efficient, cost effective, and passenger friendly 76-seater in the market today – which makes the E175 the clear choice of North American airlines, and proven with hundreds of orders this year,,” said Paulo Cesar Silva, President & CEO, Embraer Commercial Aviation. “Embraer is honored to provide the new American with the E175, and it is committed to supporting the development of the new airline, to which we wish great success.”
Both the CRJ900 and the E175 are powered by General Electric CF34-8 engines. “GE Aviation has enjoyed a strong relationship with American Airlines and US Airways. We are thrilled to be part of the fleet renewal program underway following the merger,” said Allen Paxson, general manager of the Regional Engines and Services at GE Aviation.
For more information on American’s fleet renewal efforts, visit aa.com/newplanes.
About American Airlines Group
American Airlines Group (NASDAQ: AAL) is the holding company for American Airlines and US Airways. Together with American Eagle and US Airways Express, the airlines operate an average of nearly 6,700 flights per day to 339 destinations in 54 countries from its hubs in Charlotte, Chicago, Dallas/Fort Worth, Los Angeles, Miami, New York, Philadelphia, Phoenix and Washington, D.C. American’s AAdvantage and US Airways Dividend Miles programs allow members to earn and redeem miles for travel and everyday purchases as well as flight upgrades, vacation packages, car rentals, hotel stays and other retail products. American is a founding member of the oneworld® alliance, whose members and members-elect serve 981 destinations with 14,244 daily flights to 151 countries. Connect with American on Twitter @AmericanAir or Facebook.com/AmericanAirlines and follow US Airways on Twitter @USAirways and on Facebook.com/USAirways.
Cautionary Statement Regarding Forward-Looking Statements and Information
Statements in this press release contain various forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which represent American’s expectations or beliefs concerning future events. When used in this release, the words “expects,” “estimates,” “plans,” “anticipates,” “indicates,” “believes,” “projects,” “forecast,” “guidance,” “outlook,” “if current trends continue,” “optimistic,” “may,” “will,” “could,” “should,” “would,” “seeks,” “intends,” “targets” and similar expressions are intended to identify forward-looking statements. Similarly, statements that describe our objectives, plans or goals, or actions we may take in the future, are forward-looking statements. Forward-looking statements include, without limitation, statements regarding American’s intentions and expectations regarding acquisitions and financings of aircraft, and the benefits to American thereof. All forward-looking statements in this release are based upon information available to American on the date of this release. American undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. Forward-looking statements are subject to a number of factors that could cause American’s actual results to differ materially from American’s expectations. Additional information concerning these and other factors is contained in American’s Securities and Exchange Commission filings, including but not limited to American’s Annual Report on Form 10-K for the year ended Dec. 31, 2012, as amended by its related Form 10-K/A filed April 16, 2013, and Quarterly Report on Form 10-Q for the quarter ending September 30, 2013.
FORT WORTH, Texas, Dec. 9, 2013 /PRNewswire – AMR Corporation and US Airways Group, Inc. today announced the completion of their merger to officially form American Airlines Group Inc. (NASDAQ: AAL) and begin building the new American Airlines.
The new American has a robust global network with nearly 6,700 daily flights to more than 330 destinations in more than 50 countries and more than 100,000 employees worldwide. The combined airline has the scale, breadth and capabilities to compete more effectively and profitably in the global marketplace. Customers will soon enjoy access to more benefits and increased service across the combined company’s larger worldwide network and through an enhanced oneworld(R) Alliance. US Airways will exit Star Alliance on March 30, 2014 and will immediately enter oneworld on March 31, 2014. With an expanded global network and a strong financial foundation, American will deliver significant benefits to consumers, communities, employees and stakeholders.
“Our people, our customers and the communities we serve around the world have been anticipating the arrival of the new American,” said Doug Parker, CEO of American Airlines. “We are taking the best of both US Airways and American Airlines to create a formidable competitor, better positioned to deliver for all of our stakeholders. We look forward to integrating our companies quickly and efficiently so the significant benefits of the merger can be realized.”
Customers to Enjoy More Benefits and an Enhanced Global Network Over Time; No Immediate Changes to Operations
Although American and US Airways have come together as one company, the process to achieve a Single Operating Certificate is expected to take approximately 18 to 24 months. In the meantime, customers should continue to do business with the airline from which travel was purchased just as they did before the merger. In short, it is “business as usual.” The airlines’ separate websites, aa.com and usairways.com, as well as the two airlines’ reservations systems and loyalty programs, will continue to operate separately until further in the integration process.
Customer benefits of the transaction to be rolled out over time include:
- A codeshare agreement between American and US Airways, creating more convenient access to the combined company’s global network
- More choices and connectivity, with nine hub airports across the U.S.
- Global access to a stronger oneworld alliance — including joint businesses with British Airways, Iberia and Finnair across the Atlantic and with Japan Airlines and Qantas across the Pacific — creating more options for travel and benefits both domestically and internationally
- Reciprocal American Admirals Club and US Airways Club benefits and reciprocal elite recognition
- Upgrade reciprocity
- Consolidation of loyalty programs and expanded opportunities to earn and redeem miles across the combined network
- Full integration of policies, websites, kiosks and customer-facing technology to ensure a consistent worldwide travel experience
- Co-location of ticket counters and gates in key markets
- With firm orders for more than 600 new mainline aircraft, American will have one of the most modern and efficient fleets in the industry, and a solid foundation for continued investment in technology, products, and services
Customers will begin to see enhancements to their experience in early January, including the ability to earn and redeem miles when traveling on either American Airlines or US Airways, reciprocal American Admirals Club and US Airways Club benefits, and reciprocal elite recognition. The combined airline expects to share more details around these key customer benefits early next year.
As the integration process is underway, American’s new Find Your Way site, aa.com/findyourway, will connect customers to key information throughout the merger integration process. Additionally, customers should visit aa.com andusairways.com, which will continue to be regularly updated with news on any fee, policy and procedure changes.
Significant Benefits for Employees
Employees of the new American will benefit from being part of a company with a more competitive and stronger financial foundation, which will create greater career opportunities over the long term. The completed merger also provides the path to improved compensation and benefits for employees.
Alignment of pay, benefits, work rules and other guidelines for employees of both airlines will be phased in over time so that all changes can be carefully considered. Represented employees will continue to work under their respective Collective Bargaining Agreements, with the modifications provided under the negotiated Memoranda of Understanding for certain groups. American’s non- represented Agents, Representatives and Planners will operate under their current terms and conditions of employment with merger-related adjustments.
Superior Value for Stakeholders
The combination is expected to deliver enhanced value to American Airlines’ stakeholders and US Airways’ investors. The transaction is expected to generate more than $1 billion in annual net synergies by 2015.
The common and preferred stock of American Airlines Group will trade on the NASDAQ Global Select Market under the symbols “AAL” and “AALCP,” respectively.
Rothschild is serving as financial advisor to American Airlines, and Weil, Gotshal & Manges LLP, Jones Day, Paul Hastings, Debevoise & Plimpton LLP and K&L Gates LLP are serving as legal counsel. Barclays and Millstein & Co. are serving as financial advisors to US Airways, and Latham & Watkins LLP, O’Melveny & Myers LLP, Dechert LLP andCadwalader, Wickersham & Taft LLP are serving as legal counsel to US Airways. Moelis & Company and Mesirow Financial are serving as financial advisors to the Unsecured Creditors Committee. Skadden, Arps, Slate, Meagher & Flom LLP and Togut, Segal & Segal LLP are serving as the Unsecured Creditors Committee’s legal counsel.
About American Airlines Group
American Airlines Group (NASDAQ: AAL) is the holding company for American Airlines and US Airways. Together with American Eagle and US Airways Express, the airlines operate an average of nearly 6,700 flights per day to more than 330 destinations in 54 countries from its hubs in Charlotte, Chicago, Dallas/Fort Worth, Los Angeles, Miami, New York,Philadelphia, Phoenix and Washington, D.C. American’s AAdvantage and US Airways Dividend Miles programs allow members to earn and redeem miles for travel and everyday purchases as well as flight upgrades, vacation packages, car rentals, hotel stays and other retail products. A founding member of the oneworld alliance, American Airlines and its members and members-elect, serve nearly 1,000 destinations with 14,250 daily flights to more than 150 countries. Connect with American on Twitter @AmericanAir or Facebook.com/AmericanAirlines and follow US Airways on Twitter @USAirways and on Facebook.com/USAirways.
Cautionary Statement Regarding Forward-Looking Statements
This document includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by words such as “may,” “will,” “expect,” “intend,” “anticipate,” “believe,” “estimate,” “plan,” “project,” “could,” “should,” ” would,” “continue,” “seek,” “target,” “guidance,” “outlook,” “forecast” and other similar words. Such statements include, but are not limited to, statements about the benefits of the business combination transaction involving the Company (formerly named AMR Corporation) and US Airways Group, Inc. (“US Airways”), including future financial and operating results, the Company’s plans, objectives, expectations and intentions, and other statements that are not historical facts. These forward-looking statements are based on the Company’s current objectives, beliefs and expectations, and they are subject to significant risks and uncertainties that may cause actual results and financial position and timing of certain events to differ materially from the information in the forward-looking statements. The following factors, among others, could cause actual results and financial position and timing of certain events to differ materially from those described in the forward-looking statements: the challenges and costs of integrating operations and achieving anticipated synergies; the effects of divestitures pursuant to the settlement with the Department of Justice and certain states; the price of, market for and potential market price volatility of the Company’s common stock and preferred stock; the Company’s significant liquidity requirements and substantial levels of indebtedness; potential limitations on the Company’s use of certain tax attributes; the impact of significant operating losses in the future; downturns in economic conditions that adversely affect our business; the impact of the price and availability of fuel and significant disruptions in the supply of aircraft fuel; competitive practices in the industry, including the impact of industry consolidation; increased costs of financing, a reduction in the availability of financing and fluctuations in interest rates; the Company’s high level of fixed obligations and ability to fund general corporate requirements, obtain additional financing and respond to competitive developments; any failure to comply with the liquidity covenants contained in financing