Continued Strong EBITDAR Margins
Additional Benefits from Amended and Extended Capacity
Purchase Agreement with Jazz
Amended and extended capacity purchase agreement expected to provide $550 million in
financial value from 2015 to 2020 compared to previous agreement
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Greater network flexibility
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Fleet economics
Pilot mobility agreement
The Jazz fleet is transitioning to more efficient and larger aircraft with significant fleet
simplification
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Mix of larger, newer technology regional jets (CRJ705s) and turboprops (Q400s)
Fleet decreases in size over time to accommodate the addition of the Q400s,
replacing, older, inefficient Dash 8-100s
From 2021-2025, CPA compensation paid to Jazz reduces by approximately $55 million per
year, resulting in a more competitive cost structure in the regional sector
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