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AYR » Topics » Failure to close the aircraft acquisition commitments could negatively impact our share price and financial results.

These excerpts taken from the AYR 10-K filed Mar 2, 2009.
Failure to close the aircraft acquisition commitments could negatively impact our share price and financial results.
 
At December 31, 2008, we had commitments to acquire a total of 12 aircraft from 2010 through 2012. If we are unable to obtain the necessary financing and if the various conditions to these commitments are not satisfied, we will be unable to close the purchase of some or all of the aircraft which we have commitments to acquire, including the aircraft under the Airbus A330 Agreement. If our aircraft acquisition commitments are not closed for these or other reasons, we will be subject to several risks, including the following:
 
  •   forfeiting deposits and progress payments and having to pay and expense certain significant costs relating to these commitments, such as actual damages, and legal, accounting and financial advisory expenses, and will not realize any of the benefits of having the transactions completed; and
 
  •   the focus of our management having been spent on these commitments instead of on pursuing other opportunities that could have been beneficial to us, without realizing any or all of the benefits of having the transaction completed.
 
If we determine that the capital we require to satisfy these commitments may not be available to us, either at all, or on terms we deem attractive, we may eliminate or continue to reduce our dividend in order to preserve capital to apply to these commitments. These risks could materially and adversely affect our ability to pay dividends, our share price and financial results.
 
Failure
to close the aircraft acquisition commitments could negatively
impact our share price and financial results.


 



At December 31, 2008, we had commitments to acquire a total
of 12 aircraft from 2010 through 2012. If we are unable to
obtain the necessary financing and if the various conditions to
these commitments are not satisfied, we will be unable to close
the purchase of some or all of the aircraft which we have
commitments to acquire, including the aircraft under the Airbus
A330 Agreement. If our aircraft acquisition commitments are not
closed for these or other reasons, we will be subject to several
risks, including the following:


 


























  •  
forfeiting deposits and progress payments and having to pay and
expense certain significant costs relating to these commitments,
such as actual damages, and legal, accounting and financial
advisory expenses, and will not realize any of the benefits of
having the transactions completed; and
 
  •  
the focus of our management having been spent on these
commitments instead of on pursuing other opportunities that
could have been beneficial to us, without realizing any or all
of the benefits of having the transaction completed.


 



If we determine that the capital we require to satisfy these
commitments may not be available to us, either at all, or on
terms we deem attractive, we may eliminate or continue to reduce
our dividend in order to preserve capital to apply to these
commitments. These risks could materially and adversely affect
our ability to pay dividends, our share price and financial
results.


 




This excerpt taken from the AYR 10-Q filed Nov 17, 2008.
Failure to close the aircraft acquisition commitments could negatively impact our share price and financial results.
 
At September 30, 2008, we had commitments to acquire a total of 12 aircraft in 2010 through 2012. If we are unable to obtain the necessary financing and if the various conditions to these commitments are not satisfied, we will be unable to close the purchase of some or all of the aircraft which we have commitments to acquire, including the aircraft under the Airbus A330 Agreement. If our aircraft acquisition commitments are not closed for these or other reasons, we will be subject to several risks, including the following:
 
  •   forfeiting deposits and progress payments and having to pay and expense certain significant costs relating to these commitments, such as actual damages, and legal, accounting and financial advisory expenses, and will not realize any of the benefits of having the transactions completed; and
 
  •   the focus of our management having been spent on these commitments instead of on pursuing other opportunities that could have been beneficial to us, without realizing any or all of the benefits of having the transaction completed.
 
These risks could materially and adversely affect our share price and financial results.
 

EXCERPTS ON THIS PAGE:

10-K (2 sections)
Mar 2, 2009
10-Q
Nov 17, 2008

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