þ
|
QUARTERLY
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF
1934
|
|
For
the quarterly period ended June 30, 2007
or
|
¨
|
TRANSITION
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF
1934
|
|
For
the transition period from ________ to
________
|
TEXAS
|
74-1563240
|
(State
or other jurisdiction of
|
(IRS
Employer
|
incorporation
or organization)
|
Identification
No.)
|
P.O.
Box 36611, Dallas, Texas
|
75235-1611
|
(Address
of principal executive offices)
|
(Zip
Code)
|
|
Number
of shares of Common Stock outstanding as of the close of business
on July
17, 2007:
|
June
30, 2007
|
December
31, 2006
|
|||||||
ASSETS
|
||||||||
Current
assets:
|
||||||||
Cash
and cash equivalents
|
$ |
1,605
|
$ |
1,390
|
||||
Short-term
investments
|
509
|
369
|
||||||
Accounts
and other receivables
|
321
|
241
|
||||||
Inventories
of parts and supplies, at cost
|
182
|
181
|
||||||
Fuel
derivative contracts
|
633
|
369
|
||||||
Prepaid
expenses and other current assets
|
56
|
51
|
||||||
Total
current assets
|
3,306
|
2,601
|
||||||
Property
and equipment, at cost:
|
||||||||
Flight
equipment
|
12,330
|
11,769
|
||||||
Ground
property and equipment
|
1,423
|
1,356
|
||||||
Deposits
on flight equipment purchase contracts
|
741
|
734
|
||||||
14,494
|
13,859
|
|||||||
Less
allowance for depreciation and amortization
|
4,007
|
3,765
|
||||||
10,487
|
10,094
|
|||||||
Other
assets
|
1,060
|
765
|
||||||
$ |
14,853
|
$ |
13,460
|
|||||
LIABILITIES
AND STOCKHOLDERS' EQUITY
|
||||||||
Current
liabilities:
|
||||||||
Accounts
payable
|
$ |
746
|
$ |
643
|
||||
Accrued
liabilities
|
2,094
|
1,323
|
||||||
Air
traffic liability
|
1,122
|
799
|
||||||
Current
maturities of long-term debt
|
123
|
122
|
||||||
Total
current liabilities
|
4,085
|
2,887
|
||||||
Long-term
debt less current maturities
|
1,518
|
1,567
|
||||||
Deferred
income taxes
|
2,328
|
2,104
|
||||||
Deferred
gains from sale and leaseback of aircraft
|
113
|
120
|
||||||
Other
deferred liabilities
|
382
|
333
|
||||||
Stockholders'
equity:
|
||||||||
Common
stock
|
808
|
808
|
||||||
Capital
in excess of par value
|
1,167
|
1,142
|
||||||
Retained
earnings
|
4,534
|
4,307
|
||||||
Accumulated
other comprehensive income
|
752
|
582
|
||||||
Treasury
stock, at cost
|
(834 | ) | (390 | ) | ||||
Total
stockholders' equity
|
6,427
|
6,449
|
||||||
$ |
14,853
|
$ |
13,460
|
|||||
See
accompanying notes.
|
Three
months ended June 30,
|
Six
months ended June 30,
|
|||||||||||||||
2007
|
2006
|
2007
|
2006
|
|||||||||||||
OPERATING
REVENUES:
|
||||||||||||||||
Passenger
|
$ |
2,475
|
$ |
2,362
|
$ |
4,587
|
$ |
4,300
|
||||||||
Freight
|
33
|
38
|
63
|
74
|
||||||||||||
Other
|
75
|
49
|
131
|
95
|
||||||||||||
Total
operating revenues
|
2,583
|
2,449
|
4,781
|
4,469
|
||||||||||||
OPERATING
EXPENSES:
|
||||||||||||||||
Salaries,
wages, and benefits
|
814
|
786
|
1,581
|
1,502
|
||||||||||||
Fuel
and oil
|
607
|
518
|
1,171
|
1,019
|
||||||||||||
Maintenance
materials and repairs
|
154
|
119
|
291
|
224
|
||||||||||||
Aircraft
rentals
|
40
|
39
|
79
|
80
|
||||||||||||
Landing
fees and other rentals
|
140
|
126
|
276
|
246
|
||||||||||||
Depreciation
and amortization
|
137
|
127
|
272
|
250
|
||||||||||||
Other
operating expenses
|
363
|
332
|
699
|
648
|
||||||||||||
Total
operating expenses
|
2,255
|
2,047
|
4,369
|
3,969
|
||||||||||||
OPERATING
INCOME
|
328
|
402
|
412
|
500
|
||||||||||||
OTHER
EXPENSES (INCOME):
|
||||||||||||||||
Interest
expense
|
29
|
34
|
58
|
68
|
||||||||||||
Capitalized
interest
|
(14 | ) | (14 | ) | (27 | ) | (26 | ) | ||||||||
Interest
income
|
(14 | ) | (21 | ) | (27 | ) | (39 | ) | ||||||||
Other
(gains) losses, net
|
(120 | ) | (112 | ) | (188 | ) | (114 | ) | ||||||||
Total
other expenses (income)
|
(119 | ) | (113 | ) | (184 | ) | (111 | ) | ||||||||
INCOME
BEFORE INCOME TAXES
|
447
|
515
|
596
|
611
|
||||||||||||
PROVISION
FOR INCOME TAXES
|
169
|
182
|
225
|
217
|
||||||||||||
NET
INCOME
|
$ |
278
|
$ |
333
|
$ |
371
|
$ |
394
|
||||||||
NET
INCOME PER SHARE, BASIC
|
$
.36
|
$
.42
|
$
.48
|
$
.49
|
||||||||||||
NET
INCOME PER SHARE, DILUTED
|
$
.36
|
$
.40
|
$
.47
|
$
.47
|
||||||||||||
WEIGHTED
AVERAGE SHARES
|
||||||||||||||||
OUTSTANDING:
|
||||||||||||||||
Basic
|
769
|
798
|
778
|
800
|
||||||||||||
Diluted
|
780
|
825
|
790
|
831
|
||||||||||||
See
accompanying notes.
|
Three
months ended June 30,
|
Six
months ended June 30,
|
|||||||||||||||
2007
|
2006
|
2007
|
2006
|
|||||||||||||
CASH
FLOWS FROM OPERATING ACTIVITIES:
|
||||||||||||||||
Net
income
|
$ |
278
|
$ |
333
|
$ |
371
|
$ |
394
|
||||||||
Adjustments
to reconcile net income to
|
||||||||||||||||
cash
provided by operating activities:
|
||||||||||||||||
Depreciation
and amortization
|
137
|
127
|
272
|
250
|
||||||||||||
Deferred
income taxes
|
125
|
179
|
167
|
214
|
||||||||||||
Amortization
of deferred gains on sale and
|
||||||||||||||||
leaseback
of aircraft
|
(4 | ) | (4 | ) | (7 | ) | (8 | ) | ||||||||
Share-based
compensation expense
|
13
|
23
|
26
|
45
|
||||||||||||
Excess
tax benefits from share-based compensation arrangements
|
1
|
(2 | ) | (29 | ) | (30 | ) | |||||||||
Changes
in certain assets and liabilities:
|
||||||||||||||||
Accounts
and other receivables
|
(43 | ) | (18 | ) | (80 | ) | (31 | ) | ||||||||
Other
current assets
|
(92 | ) | (88 | ) | (148 | ) | (73 | ) | ||||||||
Accounts
payable and accrued liabilities
|
447
|
255
|
830
|
571
|
||||||||||||
Air
traffic liability
|
112
|
29
|
322
|
309
|
||||||||||||
Other,
net
|
6
|
(2 | ) | (127 | ) | (58 | ) | |||||||||
Net
cash provided by operating activities
|
980
|
832
|
1,597
|
1,583
|
||||||||||||
CASH
FLOWS FROM INVESTING ACTIVITIES:
|
||||||||||||||||
Purchases
of property and equipment, net
|
(338 | ) | (404 | ) | (663 | ) | (665 | ) | ||||||||
Purchases
of short-term investments
|
(1,158 | ) | (1,221 | ) | (2,072 | ) | (2,071 | ) | ||||||||
Proceeds
from sales of short-term investments
|
963
|
1,145
|
1,931
|
1,926
|
||||||||||||
Proceeds
from ATA Airlines, Inc. debtor in possession loan
|
-
|
-
|
-
|
20
|
||||||||||||
Other,
net
|
-
|
-
|
-
|
1
|
||||||||||||
Net
cash used in investing activities
|
(533 | ) | (480 | ) | (804 | ) | (789 | ) | ||||||||
CASH
FLOWS FROM FINANCING ACTIVITIES:
|
||||||||||||||||
Proceeds
from Employee stock plans
|
14
|
29
|
92
|
136
|
||||||||||||
Payments
of long-term debt and capital lease obligations
|
(6 | ) | (99 | ) | (15 | ) | (136 | ) | ||||||||
Payments
of cash dividends
|
(3 | ) | (4 | ) | (11 | ) | (11 | ) | ||||||||
Repurchase
of common stock
|
(464 | ) | (289 | ) | (674 | ) | (503 | ) | ||||||||
Excess
tax benefits from share-based compensation arrangements
|
(1 | ) |
2
|
29
|
30
|
|||||||||||
Other,
net
|
-
|
1
|
1
|
2
|
||||||||||||
Net
cash used in financing activities
|
(460 | ) | (360 | ) | (578 | ) | (482 | ) | ||||||||
NET
INCREASE (DECREASE) IN CASH
|
||||||||||||||||
AND
CASH EQUIVALENTS
|
(13 | ) | (8 | ) |
215
|
312
|
||||||||||
CASH
AND CASH EQUIVALENTS AT
|
||||||||||||||||
BEGINNING
OF PERIOD
|
1,618
|
2,600
|
1,390
|
2,280
|
||||||||||||
CASH
AND CASH EQUIVALENTS
|
||||||||||||||||
AT
END OF PERIOD
|
$ |
1,605
|
$ |
2,592
|
$ |
1,605
|
$ |
2,592
|
||||||||
CASH
PAYMENTS FOR:
|
||||||||||||||||
Interest,
net of amount capitalized
|
$ |
10
|
$ |
18
|
$ |
29
|
$ |
38
|
||||||||
Income
taxes
|
$ |
3
|
$ |
3
|
$ |
4
|
$ |
3
|
||||||||
See
accompanying notes.
|
Three
months ended June 30,
|
Six
months ended June 30,
|
|||||||||||||||
2007
|
2006
|
2007
|
2006
|
|||||||||||||
NUMERATOR:
|
||||||||||||||||
Net
income available to
|
||||||||||||||||
common
stockholders
|
$ |
278
|
$ |
333
|
$ |
371
|
$ |
394
|
||||||||
DENOMINATOR:
|
||||||||||||||||
Weighted-average
shares
|
||||||||||||||||
outstanding,
basic
|
769
|
798
|
778
|
800
|
||||||||||||
Dilutive
effect of Employee stock
|
||||||||||||||||
options
|
11
|
27
|
12
|
31
|
||||||||||||
Adjusted
weighted-average shares
|
||||||||||||||||
outstanding,
diluted
|
780
|
825
|
790
|
831
|
||||||||||||
NET
INCOME PER SHARE:
|
||||||||||||||||
Basic
|
$
.36
|
$
.42
|
$
.48
|
$
.49
|
||||||||||||
Diluted
|
$
.36
|
$
.40
|
$
.47
|
$
.47
|
Three
months ended June 30,
|
|||||||||
2007
|
2006
|
||||||||
Fuel
hedge (gains) included in Fuel and oil expense
|
$ | (173 | ) | $ | (198 | ) | |||
Mark-to-market
impact from fuel contracts settling in future
|
|||||||||
periods
- included in Other (gains) losses, net
|
(129 | ) | (88 | ) | |||||
Ineffectiveness
from fuel hedges settling in future periods -
|
|||||||||
included
in Other (gains) losses, net
|
4
|
(7 | ) | ||||||
Realized
ineffectiveness and mark-to-market (gains) or
|
|||||||||
losses
- included in Other (gains) losses, net
|
(9 | ) | (28 | ) | |||||
Premium
cost of fuel contracts included in Other (gains) losses,
net
|
14
|
12
|
Six
months ended June 30,
|
|||||||||
2007
|
2006
|
||||||||
Fuel
hedge (gains) included in Fuel and oil expense
|
$ | (251 | ) | $ | (314 | ) | |||
Mark-to-market
impact from fuel contracts settling in future
|
|||||||||
periods
- included in Other (gains) losses, net
|
(200 | ) | (130 | ) | |||||
Ineffectiveness
from fuel hedges settling in future periods -
|
|||||||||
included
in Other (gains) losses, net
|
9
|
4
|
|||||||
Realized
ineffectiveness and mark-to-market (gains) or
|
|||||||||
losses
- included in Other (gains) losses, net
|
(26 | ) | (10 | ) | |||||
Premium
cost of fuel contracts included in Other (gains) losses,
net
|
29
|
23
|
June
30,
|
December
31,
|
|||||||
2007
|
2006
|
|||||||
Fair
value of current fuel contracts (Fuel derivative
contracts)
|
$ |
633
|
$ |
369
|
||||
Fair
value of noncurrent fuel contracts (Other assets)
|
922
|
630
|
||||||
Due
from third parties for settled fuel contracts (Accounts
|
||||||||
and
other receivables)
|
67
|
42
|
||||||
Unrealized
gains from fuel hedges, net of tax (Accumulated other
|
||||||||
comprehensive
income)
|
754
|
584
|
Three
months ended June 30,
|
|||||||||
2007
|
2006
|
||||||||
Net
income
|
$ |
278
|
$ |
333
|
|||||
Unrealized
gain on derivative instruments,
|
|||||||||
net
of deferred taxes of $22 and $51
|
35
|
95
|
|||||||
Other,
net of deferred taxes of $1 and $0
|
1
|
-
|
|||||||
Total
other comprehensive income
|
36
|
95
|
|||||||
Comprehensive
income
|
$ |
314
|
$ |
428
|
Six
months ended June 30,
|
|||||||||
2007
|
2006
|
||||||||
Net
income
|
$ |
371
|
$ |
394
|
|||||
Unrealized
gain on derivative instruments,
|
|||||||||
net
of deferred taxes of $105 and $122
|
170
|
211
|
|||||||
Other,
net of deferred taxes of $0 and $0
|
-
|
1
|
|||||||
Total
other comprehensive income
|
170
|
212
|
|||||||
Comprehensive
income
|
$ |
541
|
$ |
606
|
Accumulated
|
|||||||||
Fuel
|
other
|
||||||||
hedge
|
comprehensive
|
||||||||
derivatives
|
Other
|
income
(loss)
|
|||||||
Balance
at March 31, 2007
|
$ |
719
|
$ | (3 | ) | $ |
716
|
||
Second
quarter 2007 changes in value
|
131
|
1
|
132
|
||||||
Reclassification
to earnings
|
(96 | ) |
-
|
(96 | ) | ||||
Balance
at June 30, 2007
|
$ |
754
|
$ | (2 | ) | $ |
752
|
Accumulated
|
||||||
Fuel
|
other
|
|||||
hedge
|
comprehensive
|
|||||
derivatives
|
Other
|
income
(loss)
|
||||
Balance
at December 31, 2006
|
$ 584
|
$ (2
|
) |
$ 582
|
||
2007
changes in value
|
305
|
-
|
305
|
|||
Reclassification
to earnings
|
(135
|
) |
-
|
(135
|
) | |
Balance
at June 30, 2007
|
$
754
|
$
(2
|
) |
$ 752
|
June
30,
|
December
31,
|
|||||||
2007
|
2006
|
|||||||
|
|
|||||||
Noncurrent
fuel hedge contracts, at fair value
|
$ |
922
|
$ |
630
|
||||
Other
|
138
|
135
|
||||||
Other
assets
|
$ |
1,060
|
$ |
765
|
||||
June
30,
|
December
31,
|
|||||||
2007
|
2006
|
|||||||
Retirement
Plans
|
$ |
226
|
$ |
165
|
||||
Aircraft
Rentals
|
127
|
128
|
||||||
Vacation
Pay
|
160
|
151
|
||||||
Advances
and deposits
|
1,075
|
546
|
||||||
Deferred
income taxes
|
127
|
78
|
||||||
Income
Taxes Payable
|
57
|
-
|
||||||
Other
|
322
|
255
|
||||||
Accrued
liabilities
|
$ |
2,094
|
$ |
1,323
|
Three
months ended June 30,
|
||||||||
(In
millions)
|
2007
|
2006
|
||||||
|
|
|||||||
Service
cost
|
$ |
3
|
$ |
3
|
||||
Interest
cost
|
2
|
2
|
||||||
Amortization
of prior service cost
|
1
|
1
|
||||||
Net
periodic postretirement benefit cost
|
$ |
6
|
$ |
6
|
Six
months ended June 30,
|
|||||||||
(In
millions)
|
2007
|
2006
|
|||||||
|
|
||||||||
Service
cost
|
$ |
7
|
$ |
7
|
|||||
Interest
cost
|
3
|
3
|
|||||||
Amortization
of prior service cost
|
1
|
1
|
|||||||
Net
periodic postretirement benefit cost
|
$ |
11
|
$ |
11
|
Three
months ended June 30,
|
||||||||||||
2007
|
2006
|
Change
|
||||||||||
Revenue
passengers carried
|
23,442,019
|
21,999,256
|
6.6 | % | ||||||||
Enplaned
passengers
|
26,889,424
|
25,306,858
|
6.3 | % | ||||||||
Revenue
passenger miles (RPMs) (000s)
|
19,018,769
|
17,843,848
|
6.6 | % | ||||||||
Available
seat miles (ASMs) (000s)
|
24,982,676
|
22,883,984
|
9.2 | % | ||||||||
Load
factor
|
76.1 | % | 78.0 | % |
(1.9)
|
pts | ||||||
Average
length of passenger haul (miles)
|
811
|
811
|
-
|
|||||||||
Average
aircraft stage length (miles)
|
630
|
619
|
1.8 | % | ||||||||
Trips
flown
|
290,647
|
270,947
|
7.3 | % | ||||||||
Average
passenger fare
|
$105.60
|
$107.38
|
(1.7 | )% | ||||||||
Passenger
revenue yield per RPM (cents)
|
13.02
|
13.24
|
(1.7 | )% | ||||||||
Operating
revenue yield per ASM (cents)
|
10.34
|
10.70
|
(3.4 | )% | ||||||||
Operating
expenses per ASM (cents)
|
9.03
|
8.95
|
0.9 | % | ||||||||
Operating
expenses per ASM, excluding fuel (cents)
|
6.60
|
6.68
|
(1.2 | )% | ||||||||
Fuel
costs per gallon, excluding fuel tax
|
$1.61
|
$1.50
|
7.3 | % | ||||||||
Fuel
consumed, in gallons (millions)
|
374
|
344
|
8.7 | % | ||||||||
Full-time
equivalent Employees at period-end
|
33,261
|
31,734
|
4.8 | % | ||||||||
Size
of fleet at period-end
|
500
|
462
|
8.2 | % | ||||||||
Six
months ended June 30,
|
||||||||||||
2007
|
2006
|
Change
|
||||||||||
Revenue
passengers carried
|
43,402,952
|
41,198,739
|
5.4 | % | ||||||||
Enplaned
passengers
|
49,792,497
|
47,322,342
|
5.2 | % | ||||||||
Revenue
passenger miles (RPMs) (000s)
|
35,127,840
|
33,124,345
|
6.0 | % | ||||||||
Available
seat miles (ASMs) (000s)
|
48,661,051
|
44,963,442
|
8.2 | % | ||||||||
Load
factor
|
72.2 | % | 73.7 | % |
(1.5)
|
pts | ||||||
Average
length of passenger haul (miles)
|
809
|
804
|
0.6 | % | ||||||||
Average
aircraft stage length (miles)
|
628
|
618
|
1.6 | % | ||||||||
Trips
flown
|
567,547
|
533,396
|
6.4 | % | ||||||||
Average
passenger fare
|
$105.68
|
$104.38
|
1.2 | % | ||||||||
Passenger
revenue yield per RPM (cents)
|
13.06
|
12.98
|
0.6 | % | ||||||||
Operating
revenue yield per ASM (cents)
|
9.82
|
9.94
|
(1.2 | )% | ||||||||
Operating
expenses per ASM (cents)
|
8.98
|
8.83
|
1.7 | % | ||||||||
Operating
expenses per ASM, excluding fuel (cents)
|
6.57
|
6.56
|
0.2 | % | ||||||||
Fuel
costs per gallon, excluding fuel tax
|
$1.61
|
$1.51
|
6.6 | % | ||||||||
Fuel
consumed, in gallons (millions)
|
726
|
673
|
7.9 | % | ||||||||
Full-time
equivalent Employees at period-end
|
33,261
|
31,734
|
4.8 | % | ||||||||
Size
of fleet at period-end
|
500
|
462
|
8.2 | % |
Three
months ended June 30,
|
Per
ASM
|
Percent
|
|||||||||||||||
2007
|
2006
|
Change
|
Change
|
||||||||||||||
Salaries,
wages, and benefits
|
3.26
|
3.43
|
(.17 | ) | (5.0 | ) | |||||||||||
Fuel
and oil
|
2.43
|
2.27
|
.16
|
7.0
|
|||||||||||||
Maintenance
materials and repairs
|
.62
|
.52
|
.10
|
19.2
|
|||||||||||||
Aircraft
rentals
|
.16
|
.17
|
(.01 | ) | (5.9 | ) | |||||||||||
Landing
fees and other rentals
|
.56
|
.56
|
-
|
-
|
|||||||||||||
Depreciation
|
.55
|
.55
|
-
|
-
|
|||||||||||||
Other
operating expenses
|
1.45
|
1.45
|
-
|
-
|
|||||||||||||
Total
|
9.03
|
8.95
|
.08
|
.9
|
Three
months ended June 30,
|
|||||||||
2007
|
2006
|
||||||||
Mark-to-market
impact from fuel contracts settling in future
|
|||||||||
periods
- included in Other (gains) losses, net
|
$ | (129 | ) | $ | (88 | ) | |||
Ineffectiveness
from fuel hedges settling in future periods -
|
|||||||||
included
in Other (gains) losses, net
|
4
|
(7 | ) | ||||||
Realized
ineffectiveness and mark-to-market (gains) or
|
|||||||||
losses
- included in Other (gains) losses, net
|
(9 | ) | (28 | ) | |||||
Premium
cost of fuel contracts included in Other (gains) losses,
net
|
14
|
12
|
|||||||
Other
|
-
|
(1 | ) | ||||||
$ | (120 | ) | $ | (112 | ) |
Six
months ended June 30,
|
Per
ASM
|
Percent
|
|||||||||||||||
2007
|
2006
|
Change
|
Change
|
||||||||||||||
|
|||||||||||||||||
Salaries,
wages, and benefits
|
3.25
|
3.34
|
(.09 | ) | (2.7 | ) | |||||||||||
Fuel
and oil
|
2.41
|
2.27
|
.14
|
6.2
|
|||||||||||||
Maintenance
materials and repairs
|
.60
|
.50 |
.10
|
20.0
|
|||||||||||||
Aircraft
rentals
|
.16
|
.18
|
(.02 | ) | (11.1 | ) | |||||||||||
Landing
fees and other rentals
|
.57
|
.54
|
.03
|
5.6
|
|||||||||||||
Depreciation
|
.56
|
.56
|
-
|
-
|
|||||||||||||
Other
operating expenses
|
1.43
|
1.44
|
(0 | ) | (1 | ) | |||||||||||
Total
|
8.98
|
8.83
|
.15
|
1.7
|
Six
months ended June 30,
|
||||||||
2007
|
2006
|
|||||||
Mark-to-market
impact from fuel contracts settling in future
|
||||||||
periods
- included in Other (gains) losses, net
|
$ | (200 | ) | $ | (130 | ) | ||
Ineffectiveness
from fuel hedges settling in future periods -
|
||||||||
included
in Other (gains) losses, net
|
9
|
4
|
||||||
Realized
ineffectiveness and mark-to-market (gains) or
|
||||||||
losses
- included in Other (gains) losses, net
|
(26 | ) | (10 | ) | ||||
Premium
cost of fuel contracts included in Other (gains) losses,
net
|
29
|
23
|
||||||
Other
|
-
|
(1 | ) | |||||
$ | (188 | ) | $ | (114 | ) |
The
Boeing Company
|
Other
|
|||||||||||||||||||
Purchase
|
Previously
|
|||||||||||||||||||
Firm
|
Options
|
Rights
|
Owned
|
Total
|
||||||||||||||||
2007
|
37
|
2
|
39 | * | ||||||||||||||||
2008
|
29
|
29 | ** | |||||||||||||||||
2009
|
18
|
10
|
28
|
|||||||||||||||||
2010
|
10
|
24
|
34
|
|||||||||||||||||
2011
|
10
|
22
|
32
|
|||||||||||||||||
2012
|
10
|
30
|
40
|
|||||||||||||||||
2013
|
19
|
19
|
||||||||||||||||||
2014
|
10
|
10
|
||||||||||||||||||
Through
2014
|
-
|
-
|
54
|
54
|
||||||||||||||||
Total
|
143
|
86
|
54
|
2
|
285
|
|||||||||||||||
* 2007
delivery dates: eight in first quarter, eleven in second quarter,
eleven
|
||||||||||||||||||||
in third quarter and nine in fourth quarter.
|
||||||||||||||||||||
**
Currently exploring alternatives to reduce fleet growth by another
ten
|
||||||||||||||||||||
aircraft, bringing 2008 net additions to 19.
|
Average
|
Number
|
Number
|
Number
|
|||||||||||||||||||
737
Type
|
Seats
|
Age
(Yrs)
|
of
Aircraft
|
Owned
|
Leased
|
|||||||||||||||||
-300
|
137
|
16.2
|
194
|
112
|
82
|
|||||||||||||||||
-500
|
122
|
16.2
|
25
|
16
|
9
|
|||||||||||||||||
-700
|
137
|
4.1
|
281
|
277
|
4
|
|||||||||||||||||
TOTALS
|
9.4
|
500
|