the economic outlook for the aviation industry in 2015 is characterized by expected slow or modest u.s. and global economic growth . in such conditions , we expect a modest increase in the demand for air travel . continuing economic uncertainty , along with the strengthening u.s. dollar , is providing uncertainty in key asian and european markets , and along with continued political and socioeconomic tensions in regions such as the middle east , may result in diminished demand for air travel . the global economy is also being impacted by declining oil prices , putting pressure on certain geographic markets . capacity . over the past three years , the company leveraged the flexibility of its fleet to better match capacity with market demand . in 2015 , the company expects consolidated asms to grow between 1.5 % and 2.5 % year-over-year . fuel . the company 's average aircraft fuel price per gallon including related taxes was $ 2.99 in 2014 as compared to $ 3.13 in 2013. recently , the price of jet fuel has declined , but remains volatile . decreases in fuel prices for an extended period may result in increased industry capacity , increased competitive actions for market share and lower fares or surcharges in general . if fuel prices were subsequently to rise significantly , there may be a lag between improvement of revenue and the adverse impact of higher fuel prices . given the highly competitive nature of the airline industry , the company may not be able to increase its fares and fees sufficiently to offset the full impact of increases in fuel prices , especially if these increases are rapid and sustained . further , such fare and fee increases may not be sustainable , may reduce the general demand for air travel and may also eventually impact the company 's strategic growth and investment plans for the future . based on projected fuel consumption in 2015 , a one dollar change in the price of a barrel of crude oil would change the company 's annual fuel expense by approximately $ 93 million . to protect against increases in the prices of aircraft fuel , the company routinely hedges a portion of its future fuel requirements . labor . as of december 31 , 2014 , united had approximately 80 % of employees represented by unions . during 2014 , united 's maintenance instructor , load planner , fleet technical instructor , security officer and dispatcher work groups ratified new joint labor agreements . we are in the process of negotiating joint collective bargaining agreements with our technicians and flight attendants . the company can not predict the outcome of negotiations with its unionized employee groups , although significant increases in the pay and benefits resulting from new collective bargaining agreements would have a material financial impact on the company . casm . in 2015 , the company expects casm , excluding fuel , third-party business expense , profit sharing and special charges to be flat to up one percent year-over-year . we are unable to project casm on a gaap basis as the nature and amount of special charges are not determinable at this time . the company 's cost initiative project that began in 2014 , called project quality , has a goal to reduce the company 's annual costs by $ 2 billion and generate an incremental $ 700 million in additional ancillary revenue by the end of 2017. the anticipated savings are comprised of $ 1 billion in annual fuel savings , based on fuel prices in 2013 , and $ 1 billion of non-fuel savings . in 2014 , the company achieved approximately $ 200 million in fuel savings and $ 380 million in non-fuel savings . mileageplus . effective march 1 , 2015 , the company will modify its mileageplus program for most tickets from the current model in which members earn redeemable miles based on distance traveled to one based on ticket price ( including base fare and carrier imposed surcharges ) . members will be able to earn between five and eleven miles per dollar spent based on their mileageplus status . the updated program will enhance the rewards for customers who spend more with united and give them improved mileage-earning opportunities . 34 results of operations in this section , we compare results of operations for the year ended december 31 , 2014 with results of operations for the year ended december 31 , 2013 , and results of operations for the year ended december 31 , 2013 with results of operations for the year ended december 31 , 2012. non-gaap financial measures are presented because they provide management and investors with the ability to measure and monitor the company 's performance on a consistent basis . 2014 compared to 2013 operating revenue the table below illustrates the year-over-year percentage change in the company 's operating revenues for the years ended december 31 ( in millions , except percentage changes ) : replace_table_token_8_th the table below presents the company 's selected passenger revenue and selected operating data based on geographic region ( regional flights consist primarily of domestic routes ) : increase ( decrease ) in 2014 from 2013 ( a ) : domestic pacific atlantic latin total mainline regional consolidated passenger revenue ( in millions ) $ 490 $ ( 41 ) $ 169 $ 170 $ 788 $ ( 148 ) $ 640 passenger revenue 3.9 % ( 0.9 ) % 2.9 % 6.5 % 3.0 % ( 2.1 ) % 1.9 % average fare per passenger 4.7 % 2.2 % 4.1 % ( 4.2 ) % 2.9 % 0.7 % 2.8 % yield 4.9 % ( 1.6 ) % 3.6 % ( 1.9 ) % 2.7 % ( 1.9 ) % 1.7 % prasm 5.2 % ( 3.6 ) % 2.6 %  % 2.5 % ( 0.8 ) % 1.6 % average stage length 0.5 story_separator_special_tag see part ii , item 5 , market for registrant 's common equity , related stockholder matters and issuer purchases of equity securities of this report for additional information . debt issuances during 2014 , united issued debt related to three separate enhanced equipment trust certificate ( eetc ) offerings to finance new aircraft deliveries , bringing the total issued at year end 2014 pursuant to these three eetc offerings to $ 2.0 billion . including the eetc offering in 2013 , united recorded $ 1.8 billion of proceeds as debt during 2014. see note 16 to the financial statements included in part ii , item 8 of this report for additional information on financing activities not affecting cash related to net property and equipment acquired through issuance of debt . united borrowed a $ 500 million term loan under the credit agreement . debt and capital lease payments during the year ended december 31 , 2014 , the company made debt and capital lease payments of $ 2.6 billion , including the following prepayments : ual retired , at par , $ 400 million principal balance of its 8 % notes due 2024. united used cash to purchase approximately $ 276 million principal amount of convertible notes and retired the notes . united retired , at par , the entire $ 800 million principal balance of its 6.75 % senior secured notes . financing activities not affecting cash ual amended its revolving credit facility under the credit agreement increasing the capacity from $ 1.0 billion to $ 1.35 billion and establishing the maturity date for $ 1.315 billion in lender commitments as january 2 , 2019. ual issued approximately 17 million shares in exchange for , or conversion of , $ 260 million of convertible notes and retired the notes . 42 significant financing events in 2013 were as follows : story_separator_special_tag principal amount of tax-exempt special facilities revenue bonds and interest thereon . these bonds , issued by various airport municipalities , are payable solely from rentals paid under long-term agreements with the respective governing bodies . the leasing arrangements associated with a majority of these obligations are accounted for as operating leases and are not recorded in the company 's financial statements . the leasing arrangements associated with a portion of these obligations are accounted for as capital leases . the annual lease payments for those obligations accounted for as operating leases are included in the operating lease payments in the contractual obligations table above . eetcs . in august 2014 , april 2014 and august 2013 , united completed three separate eetc offerings for a total principal amount of $ 2.9 billion . of the $ 2.9 billion , united has received and recorded $ 2.0 billion of proceeds as debt as of december 31 , 2014. united expects to receive all proceeds from the august 2014 pass-through trusts by the end of 2015. see notes 11 and 14 to the financial statements included in part ii , item 8 of this report for additional information on eetc pass-through trusts and variable interest entity consideration . increased cost provisions . see note 15 to the financial statements included in part ii , item 8 of this report for additional information on increased cost provisions related to the company 's debt . fuel consortia . united participates in numerous fuel consortia with other air carriers at major airports to reduce the costs of fuel distribution and storage . interline agreements govern the rights and responsibilities of the consortia members and provide for the allocation of the overall costs to operate the consortia based on usage . the consortia ( and in limited cases , the participating carriers ) have entered into long-term agreements to lease certain airport fuel storage and distribution facilities that are typically financed through tax-exempt bonds ( either special facilities lease revenue bonds or general airport revenue bonds ) , issued by various local municipalities . in general , each consortium lease agreement requires the consortium to make lease payments in amounts sufficient to pay the maturing principal and interest payments on the bonds . as of december 31 , 2014 , approximately $ 1.4 billion principal amount of such bonds were secured by significant fuel facility leases in which united 45 participates , as to which united and each of the signatory airlines have provided indirect guarantees of the debt . as of december 31 , 2014 , the company 's contingent exposure was approximately $ 239 million principal amount of such bonds based on its recent consortia participation . the company 's contingent exposure could increase if the participation of other air carriers decreases . the guarantees will expire when the tax-exempt bonds are paid in full , which range from 2015 to 2041. the company did not record a liability at the time these indirect guarantees were made . critical accounting policies critical accounting policies are defined as those that are affected by significant judgments and uncertainties which potentially could result in materially different accounting under different assumptions and conditions . the company has prepared the financial statements in conformity with u.s. gaap , which requires management to make estimates and assumptions that affect the reported amounts in the financial statements . actual results could differ from those estimates under different assumptions or conditions . the company has identified the following critical accounting policies that impact the preparation of the financial statements . passenger revenue recognition . the value of unused passenger tickets is included in current liabilities as advance ticket sales . the company records passenger ticket sales and tickets sold by other airlines for use on united as passenger revenue when the transportation is provided or upon estimated breakage . tickets sold by other airlines are recorded at the estimated values to be billed to the other airlines . differences between amounts billed and the actual amounts may be rejected and rebilled or written off if the amount recorded

debt issuances during 2013 , united issued debt related to three separate eetc offerings to finance new aircraft deliveries , bringing the total issued at year end 2013 pursuant to these three eetc offerings to $ 1.5 billion . including the eetc offerings in 2012 , united recorded $ 900 million of proceeds as debt during 2013. ual issued $ 600 million unsecured senior notes . united and ual entered into the credit agreement as the borrower and guarantor , respectively . the company 's credit agreement originally consisted of a $ 900 million term loan due april 1 , 2019 and a $ 1.0 billion revolving credit facility available for drawing until april 1 , 2018. debt and capital lease payments during the year ended december 31 , 2013 , the company made debt and capital lease payments of $ 2.3 billion , including the following prepayments : the company used $ 900 million from the credit agreement , together with approximately $ 300 million of cash to retire the entire principal balance of a $ 1.2 billion term loan due 2014 that was outstanding under united 's amended and restated revolving credit , term loan and guaranty agreement , dated as of february 2 , 2007. united redeemed all of the $ 400 million aggregate principal amount of its 9.875 % senior secured notes due 2013 and $ 200 million aggregate principal amount of 12.0 % senior second lien notes due 2013. united redeemed $ 303 million aggregate principal amount of eetc notes . financing activities not affecting cash ual issued approximately 28 million shares of ual common stock pursuant to agreements that ual entered into with certain of its securityholders in exchange for approximately $ 240 million in aggregate principal amount of ual 's outstanding 6 % convertible senior notes held by the holders of these notes . the company retired the 6 % convertible senior notes acquired in the exchange . significant financing events in 2012 were as follows : the company received $ 1.5 billion in proceeds from eetc transactions in 2012. during the year ended december 31 , 2012 , the company made debt and capital lease payments of $ 1.5 billion , including prepayments .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```debt issuances during 2013 , united issued debt related to three separate eetc offerings to finance new aircraft deliveries , bringing the total issued at year end 2013 pursuant to these three eetc offerings to $ 1.5 billion . including the eetc offerings in 2012 , united recorded $ 900 million of proceeds as debt during 2013. ual issued $ 600 million unsecured senior notes . united and ual entered into the credit agreement as the borrower and guarantor , respectively . the company 's credit agreement originally consisted of a $ 900 million term loan due april 1 , 2019 and a $ 1.0 billion revolving credit facility available for drawing until april 1 , 2018. debt and capital lease payments during the year ended december 31 , 2013 , the company made debt and capital lease payments of $ 2.3 billion , including the following prepayments : the company used $ 900 million from the credit agreement , together with approximately $ 300 million of cash to retire the entire principal balance of a $ 1.2 billion term loan due 2014 that was outstanding under united 's amended and restated revolving credit , term loan and guaranty agreement , dated as of february 2 , 2007. united redeemed all of the $ 400 million aggregate principal amount of its 9.875 % senior secured notes due 2013 and $ 200 million aggregate principal amount of 12.0 % senior second lien notes due 2013. united redeemed $ 303 million aggregate principal amount of eetc notes . financing activities not affecting cash ual issued approximately 28 million shares of ual common stock pursuant to agreements that ual entered into with certain of its securityholders in exchange for approximately $ 240 million in aggregate principal amount of ual 's outstanding 6 % convertible senior notes held by the holders of these notes . the company retired the 6 % convertible senior notes acquired in the exchange . significant financing events in 2012 were as follows : the company received $ 1.5 billion in proceeds from eetc transactions in 2012. during the year ended december 31 , 2012 , the company made debt and capital lease payments of $ 1.5 billion , including prepayments .
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 Suspicious Activity Report : the economic outlook for the aviation industry in 2015 is characterized by expected slow or modest u.s. and global economic growth . in such conditions , we expect a modest increase in the demand for air travel . continuing economic uncertainty , along with the strengthening u.s. dollar , is providing uncertainty in key asian and european markets , and along with continued political and socioeconomic tensions in regions such as the middle east , may result in diminished demand for air travel . the global economy is also being impacted by declining oil prices , putting pressure on certain geographic markets . capacity . over the past three years , the company leveraged the flexibility of its fleet to better match capacity with market demand . in 2015 , the company expects consolidated asms to grow between 1.5 % and 2.5 % year-over-year . fuel . the company 's average aircraft fuel price per gallon including related taxes was $ 2.99 in 2014 as compared to $ 3.13 in 2013. recently , the price of jet fuel has declined , but remains volatile . decreases in fuel prices for an extended period may result in increased industry capacity , increased competitive actions for market share and lower fares or surcharges in general . if fuel prices were subsequently to rise significantly , there may be a lag between improvement of revenue and the adverse impact of higher fuel prices . given the highly competitive nature of the airline industry , the company may not be able to increase its fares and fees sufficiently to offset the full impact of increases in fuel prices , especially if these increases are rapid and sustained . further , such fare and fee increases may not be sustainable , may reduce the general demand for air travel and may also eventually impact the company 's strategic growth and investment plans for the future . based on projected fuel consumption in 2015 , a one dollar change in the price of a barrel of crude oil would change the company 's annual fuel expense by approximately $ 93 million . to protect against increases in the prices of aircraft fuel , the company routinely hedges a portion of its future fuel requirements . labor . as of december 31 , 2014 , united had approximately 80 % of employees represented by unions . during 2014 , united 's maintenance instructor , load planner , fleet technical instructor , security officer and dispatcher work groups ratified new joint labor agreements . we are in the process of negotiating joint collective bargaining agreements with our technicians and flight attendants . the company can not predict the outcome of negotiations with its unionized employee groups , although significant increases in the pay and benefits resulting from new collective bargaining agreements would have a material financial impact on the company . casm . in 2015 , the company expects casm , excluding fuel , third-party business expense , profit sharing and special charges to be flat to up one percent year-over-year . we are unable to project casm on a gaap basis as the nature and amount of special charges are not determinable at this time . the company 's cost initiative project that began in 2014 , called project quality , has a goal to reduce the company 's annual costs by $ 2 billion and generate an incremental $ 700 million in additional ancillary revenue by the end of 2017. the anticipated savings are comprised of $ 1 billion in annual fuel savings , based on fuel prices in 2013 , and $ 1 billion of non-fuel savings . in 2014 , the company achieved approximately $ 200 million in fuel savings and $ 380 million in non-fuel savings . mileageplus . effective march 1 , 2015 , the company will modify its mileageplus program for most tickets from the current model in which members earn redeemable miles based on distance traveled to one based on ticket price ( including base fare and carrier imposed surcharges ) . members will be able to earn between five and eleven miles per dollar spent based on their mileageplus status . the updated program will enhance the rewards for customers who spend more with united and give them improved mileage-earning opportunities . 34 results of operations in this section , we compare results of operations for the year ended december 31 , 2014 with results of operations for the year ended december 31 , 2013 , and results of operations for the year ended december 31 , 2013 with results of operations for the year ended december 31 , 2012. non-gaap financial measures are presented because they provide management and investors with the ability to measure and monitor the company 's performance on a consistent basis . 2014 compared to 2013 operating revenue the table below illustrates the year-over-year percentage change in the company 's operating revenues for the years ended december 31 ( in millions , except percentage changes ) : replace_table_token_8_th the table below presents the company 's selected passenger revenue and selected operating data based on geographic region ( regional flights consist primarily of domestic routes ) : increase ( decrease ) in 2014 from 2013 ( a ) : domestic pacific atlantic latin total mainline regional consolidated passenger revenue ( in millions ) $ 490 $ ( 41 ) $ 169 $ 170 $ 788 $ ( 148 ) $ 640 passenger revenue 3.9 % ( 0.9 ) % 2.9 % 6.5 % 3.0 % ( 2.1 ) % 1.9 % average fare per passenger 4.7 % 2.2 % 4.1 % ( 4.2 ) % 2.9 % 0.7 % 2.8 % yield 4.9 % ( 1.6 ) % 3.6 % ( 1.9 ) % 2.7 % ( 1.9 ) % 1.7 % prasm 5.2 % ( 3.6 ) % 2.6 %  % 2.5 % ( 0.8 ) % 1.6 % average stage length 0.5 story_separator_special_tag see part ii , item 5 , market for registrant 's common equity , related stockholder matters and issuer purchases of equity securities of this report for additional information . debt issuances during 2014 , united issued debt related to three separate enhanced equipment trust certificate ( eetc ) offerings to finance new aircraft deliveries , bringing the total issued at year end 2014 pursuant to these three eetc offerings to $ 2.0 billion . including the eetc offering in 2013 , united recorded $ 1.8 billion of proceeds as debt during 2014. see note 16 to the financial statements included in part ii , item 8 of this report for additional information on financing activities not affecting cash related to net property and equipment acquired through issuance of debt . united borrowed a $ 500 million term loan under the credit agreement . debt and capital lease payments during the year ended december 31 , 2014 , the company made debt and capital lease payments of $ 2.6 billion , including the following prepayments : ual retired , at par , $ 400 million principal balance of its 8 % notes due 2024. united used cash to purchase approximately $ 276 million principal amount of convertible notes and retired the notes . united retired , at par , the entire $ 800 million principal balance of its 6.75 % senior secured notes . financing activities not affecting cash ual amended its revolving credit facility under the credit agreement increasing the capacity from $ 1.0 billion to $ 1.35 billion and establishing the maturity date for $ 1.315 billion in lender commitments as january 2 , 2019. ual issued approximately 17 million shares in exchange for , or conversion of , $ 260 million of convertible notes and retired the notes . 42 significant financing events in 2013 were as follows : story_separator_special_tag principal amount of tax-exempt special facilities revenue bonds and interest thereon . these bonds , issued by various airport municipalities , are payable solely from rentals paid under long-term agreements with the respective governing bodies . the leasing arrangements associated with a majority of these obligations are accounted for as operating leases and are not recorded in the company 's financial statements . the leasing arrangements associated with a portion of these obligations are accounted for as capital leases . the annual lease payments for those obligations accounted for as operating leases are included in the operating lease payments in the contractual obligations table above . eetcs . in august 2014 , april 2014 and august 2013 , united completed three separate eetc offerings for a total principal amount of $ 2.9 billion . of the $ 2.9 billion , united has received and recorded $ 2.0 billion of proceeds as debt as of december 31 , 2014. united expects to receive all proceeds from the august 2014 pass-through trusts by the end of 2015. see notes 11 and 14 to the financial statements included in part ii , item 8 of this report for additional information on eetc pass-through trusts and variable interest entity consideration . increased cost provisions . see note 15 to the financial statements included in part ii , item 8 of this report for additional information on increased cost provisions related to the company 's debt . fuel consortia . united participates in numerous fuel consortia with other air carriers at major airports to reduce the costs of fuel distribution and storage . interline agreements govern the rights and responsibilities of the consortia members and provide for the allocation of the overall costs to operate the consortia based on usage . the consortia ( and in limited cases , the participating carriers ) have entered into long-term agreements to lease certain airport fuel storage and distribution facilities that are typically financed through tax-exempt bonds ( either special facilities lease revenue bonds or general airport revenue bonds ) , issued by various local municipalities . in general , each consortium lease agreement requires the consortium to make lease payments in amounts sufficient to pay the maturing principal and interest payments on the bonds . as of december 31 , 2014 , approximately $ 1.4 billion principal amount of such bonds were secured by significant fuel facility leases in which united 45 participates , as to which united and each of the signatory airlines have provided indirect guarantees of the debt . as of december 31 , 2014 , the company 's contingent exposure was approximately $ 239 million principal amount of such bonds based on its recent consortia participation . the company 's contingent exposure could increase if the participation of other air carriers decreases . the guarantees will expire when the tax-exempt bonds are paid in full , which range from 2015 to 2041. the company did not record a liability at the time these indirect guarantees were made . critical accounting policies critical accounting policies are defined as those that are affected by significant judgments and uncertainties which potentially could result in materially different accounting under different assumptions and conditions . the company has prepared the financial statements in conformity with u.s. gaap , which requires management to make estimates and assumptions that affect the reported amounts in the financial statements . actual results could differ from those estimates under different assumptions or conditions . the company has identified the following critical accounting policies that impact the preparation of the financial statements . passenger revenue recognition . the value of unused passenger tickets is included in current liabilities as advance ticket sales . the company records passenger ticket sales and tickets sold by other airlines for use on united as passenger revenue when the transportation is provided or upon estimated breakage . tickets sold by other airlines are recorded at the estimated values to be billed to the other airlines . differences between amounts billed and the actual amounts may be rejected and rebilled or written off if the amount recorded

