Thu, Jan 30, 2003
Largest 717 Fleet Reports Profitability for Fourth Quarter and
Full-Year
AirTran Holdings, Inc., the parent company of
AirTran Airways, Inc., is reporting fourth quarter and full-year
earnings. Net income for the fourth quarter 2002 was $7.5 million,
versus a loss of $14.2 million in the year-earlier period.
(Fourth-quarter results of 2001 were reduced by $1.3 million,
representing an adjustment to amounts received under a government
grant program.)
Oh -- and there's the 717
AirTran Airways is the world's largest operator of the Boeing
717, the most modern, environmentally friendly aircraft in its
class. During the fourth quarter, capacity increased 39.3% year
over year as AirTran Airways continued to add new fuel efficient
Boeing 717 aircraft. Traffic increased 44.6%, resulting in a 2.4
percentage point increase in load factor. Passenger yield increased
2.3% to 13.2 cents, resulting in a 6.3% increase in year over year
unit revenue to 8.8 cents. Fourth quarter operating cost per
available seat mile improved by 4.8% to 8.4 cents compared to 8.8
cents in the fourth quarter of 2001. For the full year, unit costs
improved 8.8% to 8.5 cents.
Robert L. Fornaro, president and chief operating officer
remarked: "Our operating performance steadily improved throughout
the year as we added new 717s. In addition, our employees continued
to deliver the caring customer service that distinguishes AirTran
Airways from the other airlines. Great service and low fares will
keep our customers coming back."
Stan Gadek, senior vice president of finance and
chief financial officer said: "AirTran Airways' continued
improvement in unit costs reflects the outstanding economic
performance of the Boeing 717. In addition, AirTran Airways' Crew
Members also contributed to the cost reductions by controlling
expenses and achieving high levels of productivity. Our fourth
quarter financial performance was truly a team effort."
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