EX-99.2 3 dex992.htm CERTAIN INFORMATION DISCUSSED DURING 4TH QUARTER CONFERENCE CALL Certain information discussed during 4th quarter conference call

EXHIBIT 99.2

SELECT BALANCE SHEET DISCLOSURE

Fourth Quarter 2007 (Unaudited)

 

  •  

Cash, cash equivalents, and investments at December 31, 2007 were $355.9 million, of which $29.6 million was restricted.

 

  •  

Net aircraft deposits with Boeing at December 31, 2007 were $119.8 million.

 

  •  

Current and long-term debt balance at December 31, 2007 was $1.06 billion, which reflects debt financing for aircraft purchases, pre-delivery deposit financing, and capital leases for spare engines. All but $125 million of our total debt is secured by aircraft or delivery positions.

 

  •  

As of December 31, 2007, the number of aircraft in our fleet that are leased or owned included, 79 leased B717 aircraft and 22 leased B737 aircraft and 8 owned B717 aircraft and 28 owned B737 aircraft

COMPANY ESTIMATES/FORWARD LOOKING STATEMENTS FOR 2008

 

  •  

The following table contains our 2008 projections for capacity growth:

 

PERIOD

    CAPACITY
GROWTH

Q1 2008

    10%

Q2 2008

    12%

Q3 2008

    10%

Q4 2008

    10%

FY 2008

    10% to 11%

 

  •  

The following table depicts our expected aircraft deliveries for 2008:

 

PERIOD

    BOEING 737

Q1 2008

    3

Q2 2008

    5

Q3 2008

    —

Q4 2008

    2

FY 2008

    10

 

  •  

The following table depicts the percentage of our expected fuel consumption that is contracted for 2008:

 

PERIOD

    FUEL UNDER
CONTRACT

Q1 2008

    37%

Q2 2008

    26%

Q3 2008

    24%

Q4 2008

    19%

FY 2008

    26%

 

  •  

Our estimated total fuel cost in the first quarter will be in the range from $2.85 to $2.90 per gallon including the benefit of hedges. Assuming $90 bbl oil and $15 bbl crack spread for spot purchases and factoring in the effect of hedges we estimate that the all-in total cost for fuel in 2008 to be in the range of $2.75 to $2.85.

 

  •  

We anticipate fuel consumption for 2008 to be approximately 390 to 400 million gallons. Fuel expense sensitivity due to changes in prices on a quarterly basis will be approximately plus or minus $2.5 million, before the effect of hedges, for every $1 per barrel change in crude or crack.

  •  

The following table depicts our 2008 projections for nonfuel unit costs:

 

PERIOD

    NON-FUEL UNIT COST

Q1 2008

    Up 0.5%

FY 2008

    Flat to Down 1%

 

  •  

We estimate 2008 non-aircraft related capital expenditures to be $25-$30 million.

 

  •  

Our projected income tax rate for 2008 will be between 39% and 40%.