AirTran swings to third-quarter profit
AirTran this morning reported a third-quarter profit of $10.6 million (11 cents per share) "on increased revenue as it flew fuller planes," Reuters writes. AirTran's earnings included a $6.6 million charge for items related to its failed takeover bid for Milwaukee-based Midwest Airlines. Without that item, AirTran would have earned 18 cents a share –- roughly in line with the 17 cents per share analysts had forecast to Reuters Estimates. The airline lost $4.6 million (5 cents per share) during the same quarter a year ago. The Atlanta Journal-Constitution (free registration) says AirTran officials cited "continued growth and strong passenger demand" as factors that "helped offset high fuel costs and other challenges" during this year's third quarter.
"We confronted high fuel costs, adverse weather and air traffic control delays in some of our major East Coast markets — but our operational performance and service levels stayed well ahead of the competition," AirTran CEO Joe Leonard says in a press release. "We remain on track to make 2007 our ninth consecutive year of successful growth." The Journal-Constitution says AirTran "increased capacity almost 21% compared to the year-earlier quarter while filling more than 80% of its seats with paying passengers, a record for the carrier."
Among the third-quarter highlights AirTran cited in its earnings release, the carrier noted it "launched nonstop service from Las Vegas to Akron/Canton and Dayton Ohio, Bloomington-Normal and Moline, Ill., Flint, Mich., and Rochester N.Y." AirTran also said it "took delivery of its 50th new, fuel-efficient Boeing 737-700; enabled customers to check in and review flight status using their handheld, mobile devices;" and "expanded flights to Florida more than 25% in the third quarter year over year."
AirTran this morning reported a third-quarter profit of $10.6 million (11 cents per share) "on increased revenue as it flew fuller planes," Reuters writes. AirTran's earnings included a $6.6 million charge for items related to its failed takeover bid for Milwaukee-based Midwest Airlines. Without that item, AirTran would have earned 18 cents a share –- roughly in line with the 17 cents per share analysts had forecast to Reuters Estimates. The airline lost $4.6 million (5 cents per share) during the same quarter a year ago. The Atlanta Journal-Constitution (free registration) says AirTran officials cited "continued growth and strong passenger demand" as factors that "helped offset high fuel costs and other challenges" during this year's third quarter.
"We confronted high fuel costs, adverse weather and air traffic control delays in some of our major East Coast markets — but our operational performance and service levels stayed well ahead of the competition," AirTran CEO Joe Leonard says in a press release. "We remain on track to make 2007 our ninth consecutive year of successful growth." The Journal-Constitution says AirTran "increased capacity almost 21% compared to the year-earlier quarter while filling more than 80% of its seats with paying passengers, a record for the carrier."
Among the third-quarter highlights AirTran cited in its earnings release, the carrier noted it "launched nonstop service from Las Vegas to Akron/Canton and Dayton Ohio, Bloomington-Normal and Moline, Ill., Flint, Mich., and Rochester N.Y." AirTran also said it "took delivery of its 50th new, fuel-efficient Boeing 737-700; enabled customers to check in and review flight status using their handheld, mobile devices;" and "expanded flights to Florida more than 25% in the third quarter year over year."
