AirTrans actually has a pretty comfortable bankroll compared to what we are used to . . . . It wasn't that long ago that we had $130 million. Sure, oil was a lot cheaper, but our highest losses (real losses!) in the worst quarters seem to be in the $10 million range, and we're making money on an annual basis. Not very worried here.
As for the SWA rumors . . . . I would expect the first announcement to be SWA's purchase of ATA's pax ops . . . . .
possibly followed by a deal of some sort with AirTran in the event of a "feeding frenzy" in the industry. If SWA/AirTrans doesn't happen, look for us picking up pieces of a dismembered Midex (sorry, guys) and possibly something on the Sun Country scene (sorry again, guys, just a prediction).
We'll see. . . . I think the smartest combo would have been the Midex/AirTran/Alaska deal our management was drumming up, but they didn't count on "Baghdad Carol" and "Uncle Timmy"'s bunker mentality . . . . not to mention AK's bristling at the suggestion of merging with an airline they had never heard of (I'm talking about management here).
Cinch up your harnesses, folks, the ride may get a little bumpy ahead . . .
TW