Item 2.02 Results of Operations and Financial Condition.
The financial information included in Item 7.01 is incorporated by reference into this Item 2.02.
The information furnished in this Item 2.02 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, regardless of any general incorporation language in such filing, except as shall be expressly set forth by specific reference in such filing.
Item 7.01 Regulation FD Disclosure.
The Company canceled more than 16,700 flights from
As a result of the operational disruptions, the Company currently expects to
report a net loss in fourth quarter 2022, driven by a preliminary estimated
fourth quarter 2022 pre-tax negative impact in the range of
The information furnished in this Item 7.01 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, regardless of any general incorporation language in such filing, except as shall be expressly set forth by specific reference in such filing.
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Cautionary Statement Regarding Forward-Looking Statements
This Current Report on Form 8-K contains 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. Specific forward-looking
statements include, without limitation, statements related to (i) the Company's
estimates of the number of, and financial and operational effects of, the flight
cancellations; (ii) the Company's estimates regarding available seat miles
(capacity); and (iii) the Company's financial expectations and projected results
of operations, including factors and assumptions underlying the Company's
expectations and projections. These forward-looking statements are based on the
Company's current estimates, intentions, beliefs, expectations, goals,
strategies, and projections for the future and are not guarantees of future
performance. Forward-looking statements involve risks, uncertainties,
assumptions, and other factors that are difficult to predict and that could
cause actual results to vary materially from those expressed in or indicated by
them. Factors include, among others, (i) the number and amount of Customer
reimbursement requests received and granted by the Company; (ii) variation from
existing estimates in the actual amount of other costs, and in benefits such as
lower fuel and oil expense and profitsharing expense, associated with the
cancelled flights; (iii) emergence of additional costs associated with the
cancelled flights that have not yet been identified or included in these
estimates; (iv) the Company's ability to timely and effectively implement,
transition, and maintain the necessary information technology systems and
infrastructure to support its operations; (v) any adjustments associated with
closing the end of period books and records of the Company; and (vi) other
factors, as described in the Company's filings with the
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