For more discussion, see Part I, Item 1A. Once a member accrues sufficient mileage for an award, the member may book award travel. We have significant pension and other postretirement benefit funding obligations, which may adversely affect our liquidity, results of operations and financial condition. It serves about 150 destinations in some 75 countries. The airline industry is subject to extensive government fees and taxation that negatively impact our revenue. Archived from on 12 October 2013. Disruptions in or changes to these systems could result in a disruption to our business and the loss of important data.
Draft appropriate footnote disclosures for Transit's financial statements at December 31, 2011, for each of the five items described. On April 18, 2014, the Bankruptcy Court granted Americans motion for summary judgment with respect to certain non-union employees, concluding that their benefits were not vested and could be terminated. However as there is an agreement between the company and its bond holders that the bonds can be callable as on July 31 st 2012 prior to the due date as on July 31 st 2020, the company has to submit a disclosure note stating the present market condition. The division has been part of since 2012, and is the world's twelfth-largest based on total freight tonne-kilometres flown. We believe that program partners benefit from the sustained purchasing behavior of their members, which translates into incremental and recurring streams of revenues for us.
Yes þ No ¨ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15 d of the Act. It is a founding member of the airline alliance, along with , , , and the now defunct. These provisions include, among other things, the following: advance notice procedures for stockholder proposals to be considered at stockholders meetings; 42 the ability of our Board of Directors to fill vacancies on the board; a prohibition against stockholders taking action by written consent; a prohibition against stockholders calling special meetings of stockholders; a requirement that holders of at least 80% of the voting power of the shares entitled to vote in the election of directors approve any amendment of our Bylaws submitted to stockholders for approval; and super-majority voting requirements to modify or amend specified provisions of our Certificate of Incorporation. At Sock Shop the mission clearly corresponds closely, to the basic philosophy or vision underlying the business and if there is a sound philosophy, strategies that generate success will be derived from it. Selected Consolidated Financial Data of American The selected consolidated financial data presented below under the captions Consolidated Statements of Operations data and Consolidated Balance Sheet data for the years ended December 31, 2015, 2014 and 2013 and as of December 31, 2015 and 2014 are derived from Americans audited consolidated financial statements included elsewhere in this report.
However, the option price approximates an estimate of the aircrafts fair value at the option date. In May 2016, Qatar Airways increased its shareholding to 15. So the company took the decision to get merged with Lberia. Following the Effective Date, actions to enforce or otherwise effect repayment of liabilities preceding the Petition Date, generally have been permanently enjoined. Indefinite-lived intangible assets are not amortized but tested for impairment annually on October 1 st or more frequently if events or circumstances indicate that the asset may be impaired. In some cases, however, foreign governments limit U.
Of the six that have been ordered, four will be leased and two will be fully acquired by British Airways. Nonetheless, there is a risk that disgruntled employees, either with or without union involvement, could engage in one or more concerted refusals to work that could individually or collectively harm the operation of our airline and impair our financial performance. Any such repurchases will be made from time to time subject to market and economic conditions, applicable legal requirements and other relevant factors. Objectives then become measurable points which indicate how the organization is making definite progress towards its broad purpose or mission. Also, any new and increased fees might reduce the demand for air travel on our airline or across 33 the industry in general, particularly if weakened economic conditions make our customers more sensitive to increased travel costs or provide a significant competitive advantage to other carriers that determine not to institute similar charges.
The foreign currency losses were driven primarily by the strengthening of the U. How should the lawsuit be reported by Transit? Such consolidation is not limited to the U. As airports around the world become more congested, we will not always be able to ensure that our plans for new service can be implemented in a commercially viable manner, given operating constraints at airports throughout our network, including due to inadequate facilities at desirable airports. A public hearing regarding the proposed endangerment finding was held in August 2015. This program awards mileage credits to passengers who fly on American and oneworld carriers, as well as certain other partner airlines that participate in the program. After the integration of British Overseas Airways Corporation and British European Airways, British Airways was found in March 1974. We also participate in leases with other airlines in fuel consortiums and fuel committees at airports, where such indemnities are generally joint and several among the participating airlines.
The value of our aircraft could be impacted in future periods by changes in supply and demand for these aircraft. Depending on the scope of such regulation, certain of our facilities and operations, or the operations of our suppliers, may be subject to additional operating and other permit requirements, potentially resulting in increased operating costs. On all of our routes, pricing decisions are affected, in large part, by the need to meet competition from other airlines. We also maintain other types of insurance such as workers compensation and employers liability, with limits and deductibles that we believe are standard within the industry. These estimates are generally updated based upon our 12-month historical average of such costs. Our capital deployment program could increase the volatility of the price of our common stock and diminish our cash reserves.
Retrieved on October 2, 2016. We are working to improve these metrics by making investments in our operations, which include the hiring of additional maintenance personnel to reduce the time aircraft are out of service. The aircraft began operations to Toronto on 1 September 2013, and began service to Newark on 1 October 2013. In addition, insurers significantly increased the premiums for aviation insurance in general following September 11, 2001. American also sells loyalty program mileage credits to participating airline partners and non-airline business partners. For example, operating the aircraft for a longer period will result in higher maintenance, fuel and other operating costs than if we replaced the aircraft.
Downturns in economic conditions adversely affect our business. An increase in costs, either due to an increase in borrowing costs caused by a reduction in credit ratings or a general increase in interest rates, or due to an increase in the cost of fuel, maintenance, or aircraft, aircraft engines or parts, could decrease the amount of cash available to cover cash contractual obligations. This amount is the net amount of the company. A complimentary 'World Traveller' bar is offered along with an upgraded main meal course. The majority of tickets sold are nonrefundable. Archived from on 18 June 2008.
For financial reporting purposes, this transaction constituted a transfer of assets between entities under common control and was accounted for at historical cost. As a result of not hedging our fuel consumption, we fully benefited from the decline in fuel prices. Our operating results are materially impacted by changes in the availability, price volatility and cost of aircraft fuel, which represents one of the largest single cost items in our business. The amount that the processing companies may withhold also varies as a result of changes in financial risk due to seasonal fluctuations in ticket volume. Our indefinite-lived intangible assets other than goodwill include certain international slots and route authorities and domestic airport slots. Jet fuel prices closely follow the price of Brent crude oil.