ORLANDO, Fla., July 26 /PRNewswire-FirstCall/ -- AirTran Holdings, Inc., AAI, the parent company of AirTran Airways, Inc., today reported its results for the second quarter of 2005:
-- Traffic, or revenue passenger miles (RPMs), increased 33.8 percent over the year-earlier period. Capacity, or available seat miles (ASMs), increased 33.3 percent.
-- All-time record passenger count of 4.3 million.
-- Quarterly load factor represents all-time record of 75.7 percent.
-- Non-fuel operating costs per available seat mile (non-fuel CASM) declined by 5.3 percent to 6.20 cents. Operating costs per available seat mile (CASM) increased 6.6 percent due to unprecedented high fuel costs.
"While the competitive environment remains challenging, AirTran Airways achieved record revenues and numbers of passengers during the second quarter, while growing the company over 33 percent. Every member of the AirTran Airways team should be proud today," said Joe Leonard, chairman and chief executive officer.
Robert Fornaro, president and chief operating officer, remarked, "During the second quarter, AirTran Airways took delivery of three Boeing 737-700 and two Boeing 717 aircraft bringing our fleet to 97 aircraft. As we continue to grow, we are confident that the 737 aircraft will produce consistent operating results, building on the efficiency and reliability of our 717 fleet, while providing even greater value to our customers."
Second quarter 2005 net income was $11.4 million or $0.13 per diluted share compared to second quarter 2004 net income of $16.8 million or $0.18 per diluted share. Non-fuel operating cost per ASM decreased 5.3 percent during the 2005 quarter to 6.20 cents.
Stan Gadek, senior vice president of finance and chief financial officer, said, "While we achieved a significant reduction in non-fuel unit costs for the quarter, the impact of record high fuel prices offset these gains. We must continue to work towards our goal of enhancing our position as one of the most efficient and cost effective operators in the business." Highlights for the quarter include: -- Took delivery of three new Boeing 737 and two Boeing 717 aircraft, increasing our fleet to 97 aircraft. -- Closed on new financing for aircraft pre-delivery deposits for 2005. -- Initiated new service to Indianapolis, Charlotte and Richmond. -- Enhanced service to Fort Lauderdale, Fort Myers, Sarasota/Bradenton, Atlanta, Philadelphia, Las Vegas, Flint, Akron/Canton, and Baltimore. -- Received authority to initiate service to Cancun, Mexico. -- Broke previous daily enplanement record three times during the second quarter. -- Announced the ratification of a contract agreement with the Association of Flight Attendants - CWA, AFL-CIO. -- Reached a one-year contract agreement with the International Brotherhood of Teamsters for our stock clerks. -- Received top FAA recognition for maintenance excellence for the 10th consecutive year. -- Sponsored the Andretti Green Racing team in three races, including the Indianapolis 500 where team driver Dan Wheldon took the championship.
AirTran Holdings, Inc., will conduct a conference call to discuss quarterly results today at 10:00 a.m. Eastern. A live broadcast of the conference call will be available via the internet at http://www.airtran.com.
-- Traffic, or revenue passenger miles (RPMs), increased 33.8 percent over the year-earlier period. Capacity, or available seat miles (ASMs), increased 33.3 percent.
-- All-time record passenger count of 4.3 million.
-- Quarterly load factor represents all-time record of 75.7 percent.
-- Non-fuel operating costs per available seat mile (non-fuel CASM) declined by 5.3 percent to 6.20 cents. Operating costs per available seat mile (CASM) increased 6.6 percent due to unprecedented high fuel costs.
"While the competitive environment remains challenging, AirTran Airways achieved record revenues and numbers of passengers during the second quarter, while growing the company over 33 percent. Every member of the AirTran Airways team should be proud today," said Joe Leonard, chairman and chief executive officer.
Robert Fornaro, president and chief operating officer, remarked, "During the second quarter, AirTran Airways took delivery of three Boeing 737-700 and two Boeing 717 aircraft bringing our fleet to 97 aircraft. As we continue to grow, we are confident that the 737 aircraft will produce consistent operating results, building on the efficiency and reliability of our 717 fleet, while providing even greater value to our customers."
Second quarter 2005 net income was $11.4 million or $0.13 per diluted share compared to second quarter 2004 net income of $16.8 million or $0.18 per diluted share. Non-fuel operating cost per ASM decreased 5.3 percent during the 2005 quarter to 6.20 cents.
Stan Gadek, senior vice president of finance and chief financial officer, said, "While we achieved a significant reduction in non-fuel unit costs for the quarter, the impact of record high fuel prices offset these gains. We must continue to work towards our goal of enhancing our position as one of the most efficient and cost effective operators in the business." Highlights for the quarter include: -- Took delivery of three new Boeing 737 and two Boeing 717 aircraft, increasing our fleet to 97 aircraft. -- Closed on new financing for aircraft pre-delivery deposits for 2005. -- Initiated new service to Indianapolis, Charlotte and Richmond. -- Enhanced service to Fort Lauderdale, Fort Myers, Sarasota/Bradenton, Atlanta, Philadelphia, Las Vegas, Flint, Akron/Canton, and Baltimore. -- Received authority to initiate service to Cancun, Mexico. -- Broke previous daily enplanement record three times during the second quarter. -- Announced the ratification of a contract agreement with the Association of Flight Attendants - CWA, AFL-CIO. -- Reached a one-year contract agreement with the International Brotherhood of Teamsters for our stock clerks. -- Received top FAA recognition for maintenance excellence for the 10th consecutive year. -- Sponsored the Andretti Green Racing team in three races, including the Indianapolis 500 where team driver Dan Wheldon took the championship.
AirTran Holdings, Inc., will conduct a conference call to discuss quarterly results today at 10:00 a.m. Eastern. A live broadcast of the conference call will be available via the internet at http://www.airtran.com.
