Michael_A._Hitt,_R._Duane_Ireland,_Robert_E._Hosk

C-218 Part 4: Case Studies

Exhibit 9 Average Employees Per Aircraft (x 10) for Major U.S. Airlines

13.3

12.6

11.9

11.2

10.5

9.8

9.1

8.4

7.7

7.0

6.3

2002 2003 2004 2005 2006 2007 2008 2009 2010

American

United

Continental

Northwest

Delta

Southwest

US Airways

Source: Airline Data and Analysis Largest Airlines 2002-2010 by AirlineFinancials.com.

S12,000

S10,000

S8,000

S6,000

S4,000

S2,000

–S2,000

2002 2003 2004 2005 2006 2007 2008 2009 2010

S0

American

United

Continental

Northwest

Delta

Southwest

US Airways

Exhibit 10 Net Debt for Major U.S. Airlines

Source: Airline Data and Analysis Largest Airlines 2002-2010 by AirlineFinancials.com.