In 2019 , American Airlines announced that it would recognize $1.9 billion in new lease liabilities on its balance sheet as a result of the adoption of IFRS 16. Prior to the adoption of the new standard, American Airlines had significant off-balance sheet lease liabilities related to its fleet of aircraft, which were not required to be recognized on its balance sheet under the previous accounting standard. The adoption of IFRS 16 resulted in a significant increase in American Airlines' reported debt, which had an impact on its financial statements and key financial ratios. The new standard also raised questions about the impact on the airline's capital position, as lease liabilities are taken into account when calculating capital ratios. The adoption of IFRS 16 also had operational implications for American Airlines, as the airline had to implement new processes and systems to track and manage its lease liabilities under the new standard. Required: a) Analyze the potential consequences for American Airlines and other airlines in terms of their capital positions and relationships with investors, creditors, and other stakeholders. b) Examine the operational implications of IFRS 16 for airlines, including the need to implement new processes and systems to comply with the requirements of the standard. c) Draw conclusions about the impact of IFRS 16 on financial reporting practices in the airline industry, and the ethical considerations that arise from these practices