- Fourth Quarter Recovery with Operating Income of
- Record Revenues of
- 2008 Net Loss of
ORLANDO, Fla. , Jan. 28 /PRNewswire-FirstCall/ -- AirTran Holdings, Inc., (NYSE: AAI), the parent company of AirTran Airways, Inc., today reported a net loss of
The fourth quarter results demonstrated the benefits of AirTran Airways' plan for adapting to the year's high-cost energy environment, the unrest in the capital markets, and an uncertain economy. In the second quarter 2008, the Company initiated steps to position the airline to react to these challenges by enhancing the airline's liquidity and reducing capacity and capital expenditures aggressively through the disposition of aircraft and the deferral of Boeing 737 deliveries while sustaining a low-cost structure. These actions combined with the recent decline in fuel prices resulted in a record fourth quarter operating income of
"2008 was an especially tough and challenging year," said Bob Fornaro , AirTran Airways' chairman, president and chief executive officer. "We thank our dedicated, hard-working Crew Members and our loyal customers for helping us overcome the many obstacles we faced in 2008. Our Crew Members continue to strive to provide exceptional customer service, and a high-quality product while offering value to the traveling public. Despite the industry challenge shifting from high oil costs to concerns regarding consumer demand, our 2008 initiatives have us well positioned to return to profitability in 2009."
Revenues for the fourth quarter grew 1.0 percent to
For the full year, capacity increased by 4.9 percent and traffic rose 9.6 percent, which resulted in a load factor of 79.6 percent. Total annual revenues grew by 10.5 percent to
Commenting on the fourth quarter performance, AirTran Airways' senior vice president and chief financial officer Arne Haak said, "2008 presented multiple financial challenges. With a resiliency and a 'can-do-attitude' that defines AirTran, we reacted promptly and decisively to address these challenges. We are committed to being disciplined managers, maintaining our low cost advantage, and we believe that AirTran is now better positioned for the uncertainty that lies ahead in 2009."
Highlights of AirTran Airways' 2008 accomplishments include:
AirTran Holdings, Inc., will conduct a conference call to discuss the quarter's results today at 9:30 a.m. EST . A live broadcast of the conference call will be available via the Internet in the investor relations section at http://www.airtran.com.
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