I Ted. today. all on being Thanks And you appreciate the of call
has Although, to Spirit under our entire The the truly Ted inspiring. I wish circumstances. it different was team. would work also I members thanking in like and dedication been all join of team hard
the up handily to of quarter, and together to weather of about arrival year over first were the CASM to quarter results overall us talk prior patterns setting our up good X.X% favorable operational year. control Let's first X.X% cost beat strong with COVID-XX expectations ex-fuel
a On increase largest driver per the basis, was wages of salaries, and the ASM year-over-year benefits.
contributed operating increase. amortization also and and per Our other to expense the depreciation ASM
short-term preserve led the of We $XXX.X topic demand of quarter decisive of XXXX take ended and the million passenger to action dramatic that environment The with us economic the and cash to unrestricted liquidity. change quick and to the investments. cash. is day, Turning first in
hiring latter CapEx for we savings savings the $XX half actions, or of remainder to deferred non-fuel projects, $XX we million the eliminated the approximately capacity to programs to operating expect expense And year. We head throughout voluntary XXXX. we on cuts, costs million of those considering into those of implemented suspended Based related deferred and leave increase cut before the business. as
corresponding aircraft deposits. $XX We some have in are pre-delivery in our defer and our million Airbus deliveries CapEx discussions non-aircraft XXXX reduced to and with by of XXXX
million. our Assuming CapEx approximately successful, these discussions would $XXX we reduce are by aircraft related
over credit to of up tapped to we into In million last $XXX cash, have commitment $XXX XXX entered million, addition the million. preserve with sources for weeks, to year to several April, initial In was liquidity. and an commitment facility of six increased secured fully the was We two drawn. a actions revolving
increase other our us revolver assets is leaving We commitment receive million and to additional do by XX, secured by an $XXX revolver about use collateral to as should to effective a secured so. the other unencumbered to million decide of currently This previously we $XX expect around of $XXX May of unencumbered million assets, $XXX with million XXXX. financings
XX% receive $XXX million, of June members. and in used XX% of remaining spread program XX% approximately The our follows; payroll will in will XXX a be XX% in and in total funds are May, to These of the CARES We participating July. to as already support exclusively Act, amount of has pay team which or for under received. that been be XX% the and benefits expect million salaries
connection allocation to the prior with in up of Also to program, common issue are $XXX up shares purchase to the CARES deadline to the payroll to April also of Treasury we program, warrants obligated Act stock. our XXX,XXX million. to US for applied reserve XX loan the to has support Spirit
XX decide of benefits September the of the of to to that take until XXXX whether can of program we wait part the One any is loan.
and and to the benefit issue these approximately need provisions of Act before the and of million the would to be of excise $XXX federal end If taken. several amount of than more of would we The of million will deferral by tax provisions includes related CARES cash the million relief. benefits, of equal benefits $XXX XXX% FICA tax comprised warrants payments. $XX we assets We to provide the also year, with estimate secured income company required decide from of it be to final XX% associated participate,
the prior recapture allow company tax from Most years. related benefits million tax cash $XXX prior from provisions and are year of payments amend tax of to the that returns
about grow a to a As once that and want returns. it in we our plan maintains reasonable scenario, do and for remove our health manner to under overall almost be is to recovery. able balance in think the prepare Also, any ability to the again of sheet to restores our us we downside able demand enough to put raise liquidity to liquidity position risk healthy be the liquidity,
of estimated cash investments short-term was million. and XX, $XXX As around unrestricted April balance our
million April the initial includes the balance drawdown $XXX support the Our from of payroll revolver. and program of XXX million payments
addition in financing and In deposits flow, million April, million. of operating to cash we debt $XX pre-delivery paid had of $X and service net CapEx
number which XX approximately this liability a expect was of of cash about and are but the million, that was hold XX% about $XXX And form Our phasing than of of $XXX air credit or higher back approximately April $XX considerably the forward. million. refunds in in our of is shells in changes million, reflect million. $XXX amount, exposure to April schedule is May nearly going balance Due traffic we as our
The per is below our most refunds, cash planned bare cash minimize levels have we day at reducing are $XXX million of least sales our important these million. operation is cash to taken These estimate net we XX% to date burn at a month. the about a a level the At action capacity operating with that burn zero minimum. capacity. is saving our $X company operation our is reductions Today, to basically
of if demand operating the as to it options The coming funds. continue of of begin CapEx capital and include debt will fleet that $X evaluate PDPs payroll million any raises financing impact is flows, financing, and We months. and in burn per calculated day does sum reduce not support the to approximate amount to further cash of does rebound not service, net the
of summary, cash a continue possible lot burn, we our to healthy put as up to still Sheet, as be done in demand and shore have ourselves a our to minimize In when position returns. balance do and work
Matt. here's, that with And
