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http://biz.yahoo.com/prnews/070726/nyth003.html?.v=84
Press ReleaseSource: AirTran Holdings, Inc.
AirTran Holdings, Inc., Reports Net Income of $41.5 Million
Thursday July 26, 6:50 am ET - Record Revenue of $614.1 Million - - Record 6.3 Million Passengers - - Record $69.7 Million Operating Profit; Operating Margin 11.4 Percent - - Non-Fuel Unit Costs Decline 6.0 Percent -
ORLANDO, Fla., July 26 /PRNewswire-FirstCall/ -- AirTran Holdings, Inc., (NYSE: AAI - News), the parent company of AirTran Airways, Inc., today reported net income of $41.5 million, or $0.41 per diluted share, for the second quarter of 2007.
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During the second quarter AirTran Airways served a record 6.3 million passengers and achieved an all-time record load factor of 78.8 percent. Included in the second-quarter results is a $4.5 million after-tax gain on the sale of two 737-700 aircraft or $0.04 per diluted share.
Commenting on the quarter, Joe Leonard, AirTran's chairman and chief executive officer, said, "I am extremely proud of our second-quarter performance. AirTran Airways served a record number of passengers, and we also set a new operating profit record of $69.7 million. Clearly, the customers appreciate the quality and value of our product as demonstrated by these results."
Revenue for the quarter was a record $614.1 million. Capacity, as measured in available seat miles, increased 21.3 percent over the same period last year and reflects the addition of 18 new Boeing 737-700s. Traffic, or revenue passenger miles, increased 22.3 percent resulting in the record 78.8 percent load factor, up 0.7 percentage points compared to second quarter 2006.
"AirTran Airways' Crew Members continued to deliver great customer service which resulted in the airline serving a record number of passengers this quarter," said Bob Fornaro, AirTran's president and chief operating officer. "I want to acknowledge the hard work and dedication of our Crew Members and thank them for their industry-leading operating performance."
AirTran Airways ranked first among major carriers for baggage delivery and on-time performance of 85.5 percent and had the second lowest rate of involuntary denied boardings and complaints, according to the most recent DOT Air Travel Consumer Report.
"Looking forward, passenger demand appears strong," said Fornaro. "With the delivery on July 16th of our last Boeing 737-700 for 2007, we expect to see improving trends in unit revenue and costs during the second half."
AirTran achieved a reduction in non-fuel unit costs on a year-over-year basis for the fourth consecutive quarter. Non-fuel costs per available seat mile (CASM) declined 6.0 percent year-over-year to 5.92 cents, an all-time record.
"We are seeing the benefits of our investment in the 737, an expanding route network, and a company-wide focus on productivity and costs. In a time of high fuel prices, we continue to reduce costs in order to keep fares low and profitably grow the airline," said Stan Gadek, AirTran's senior vice president of finance and chief financial officer.
Highlights of AirTran Airways' accomplishments during the second quarter and year to date include:
-- Delivery of the 50th new Boeing 737-700 aircraft. -- Launched more than a dozen new nonstop routes, including service to St. Louis, Mo.; San Diego, Calif.; Charleston, S.C. and Portland, Maine. -- Created over 500 new jobs, including the hiring of the company's 2,000th flight attendant. -- Entered into an $82 million deposit financing agreement for 18 aircraft to be delivered in 2009 and 2010. -- Ordered 15 new Boeing 737-700 aircraft for delivery in 2011 and 2012. -- Awarded two additional slots at Ronald Reagan Washington National Airport. -- Honored as the 2007 Airline Strategy Award recipient for Low Cost and Regional Leadership by Airline Business magazine. -- Debuted four new Get Up and "Go" television spots. -- Became the official airline of America's 400th Anniversary at Jamestown, VA.
AirTran Holdings, Inc., will conduct a conference call to discuss quarterly results today at 10:00 a.m. EDT. A live broadcast of the conference call will be available via the Internet in the investor relations section at http://www.airtran.com. Editor's note: Statements regarding the Company's operational and financial success, business model, expectation about future success, improved operational performance and our ability to maintain or improve our low costs are forward-looking statements and are not historical facts. Instead, they are estimates or projections involving numerous risks or uncertainties, including but not limited to, consumer demand and acceptance of services offered by the Company, the Company's ability to maintain current cost levels, fare levels and actions by competitors, regulatory matters and general economic conditions. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained from time to time in the Company's SEC filings, including but not limited to the Company's annual report on Form 10-K for the year ended December 31, 2006. The Company disclaims any obligation or duty to update or correct any of its forward-looking statements.
Press ReleaseSource: AirTran Holdings, Inc.
AirTran Holdings, Inc., Reports Net Income of $41.5 Million
Thursday July 26, 6:50 am ET - Record Revenue of $614.1 Million - - Record 6.3 Million Passengers - - Record $69.7 Million Operating Profit; Operating Margin 11.4 Percent - - Non-Fuel Unit Costs Decline 6.0 Percent -
ORLANDO, Fla., July 26 /PRNewswire-FirstCall/ -- AirTran Holdings, Inc., (NYSE: AAI - News), the parent company of AirTran Airways, Inc., today reported net income of $41.5 million, or $0.41 per diluted share, for the second quarter of 2007.
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document.write('
Commenting on the quarter, Joe Leonard, AirTran's chairman and chief executive officer, said, "I am extremely proud of our second-quarter performance. AirTran Airways served a record number of passengers, and we also set a new operating profit record of $69.7 million. Clearly, the customers appreciate the quality and value of our product as demonstrated by these results."
Revenue for the quarter was a record $614.1 million. Capacity, as measured in available seat miles, increased 21.3 percent over the same period last year and reflects the addition of 18 new Boeing 737-700s. Traffic, or revenue passenger miles, increased 22.3 percent resulting in the record 78.8 percent load factor, up 0.7 percentage points compared to second quarter 2006.
"AirTran Airways' Crew Members continued to deliver great customer service which resulted in the airline serving a record number of passengers this quarter," said Bob Fornaro, AirTran's president and chief operating officer. "I want to acknowledge the hard work and dedication of our Crew Members and thank them for their industry-leading operating performance."
AirTran Airways ranked first among major carriers for baggage delivery and on-time performance of 85.5 percent and had the second lowest rate of involuntary denied boardings and complaints, according to the most recent DOT Air Travel Consumer Report.
"Looking forward, passenger demand appears strong," said Fornaro. "With the delivery on July 16th of our last Boeing 737-700 for 2007, we expect to see improving trends in unit revenue and costs during the second half."
AirTran achieved a reduction in non-fuel unit costs on a year-over-year basis for the fourth consecutive quarter. Non-fuel costs per available seat mile (CASM) declined 6.0 percent year-over-year to 5.92 cents, an all-time record.
"We are seeing the benefits of our investment in the 737, an expanding route network, and a company-wide focus on productivity and costs. In a time of high fuel prices, we continue to reduce costs in order to keep fares low and profitably grow the airline," said Stan Gadek, AirTran's senior vice president of finance and chief financial officer.
Highlights of AirTran Airways' accomplishments during the second quarter and year to date include:
-- Delivery of the 50th new Boeing 737-700 aircraft. -- Launched more than a dozen new nonstop routes, including service to St. Louis, Mo.; San Diego, Calif.; Charleston, S.C. and Portland, Maine. -- Created over 500 new jobs, including the hiring of the company's 2,000th flight attendant. -- Entered into an $82 million deposit financing agreement for 18 aircraft to be delivered in 2009 and 2010. -- Ordered 15 new Boeing 737-700 aircraft for delivery in 2011 and 2012. -- Awarded two additional slots at Ronald Reagan Washington National Airport. -- Honored as the 2007 Airline Strategy Award recipient for Low Cost and Regional Leadership by Airline Business magazine. -- Debuted four new Get Up and "Go" television spots. -- Became the official airline of America's 400th Anniversary at Jamestown, VA.
AirTran Holdings, Inc., will conduct a conference call to discuss quarterly results today at 10:00 a.m. EDT. A live broadcast of the conference call will be available via the Internet in the investor relations section at http://www.airtran.com. Editor's note: Statements regarding the Company's operational and financial success, business model, expectation about future success, improved operational performance and our ability to maintain or improve our low costs are forward-looking statements and are not historical facts. Instead, they are estimates or projections involving numerous risks or uncertainties, including but not limited to, consumer demand and acceptance of services offered by the Company, the Company's ability to maintain current cost levels, fare levels and actions by competitors, regulatory matters and general economic conditions. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained from time to time in the Company's SEC filings, including but not limited to the Company's annual report on Form 10-K for the year ended December 31, 2006. The Company disclaims any obligation or duty to update or correct any of its forward-looking statements.
