P 12-6. Chihi Airways had the following results for the last three years:

2007	2006	2005
(In thousands of dollars)
Operating expenses	$1,550,000	$1,520,000	$1,480,000
Operating revenues	1,840,000	1,670,400	1,620,700
Long-term debt	910,000	900,500	895,000
Operating property	995,000	990,000	985,000
Passenger load factor	66.5%	59.0%	57.8%

Required a. Calculate the following for 2007, 2006, and 2005:

• 1. Operating ratio
• 2. Long-term debt to operating property
• 3. Operating revenue to operating property
• b. Comment on trends found in the ratios computed in (a).
• c. Comment on the passenger load factor.