- Low Cost Carrier Profitable all Four Quarters of 2009 - - Record Load Factor and Income for 2009 - ORLANDO, Fla., Jan. 27 /PRNewswire-FirstCall/ -- AirTran Holdings, Inc., (NYSE:AAI), the parent company of AirTran Airways, Inc., today reported net income of $134.7 million or $0.95 per diluted share for the full-year 2009 and net income of $17.1 million or $0.11 per diluted share for the fourth quarter of 2009. These results represent an all-time record for annual net income with an improvement of over $400 million as compared to last year. Operating income was $177.0 million and is also a record for the Company. "Both our operating and financial numbers clearly illustrate the hard work and dedication of each of our 8,500 Crew Members," said Bob Fornaro, AirTran Airways' chairman, president and chief executive officer. "Posting these results during one of the most trying economic times in decades also shows that customers are very attracted to our unique combination of high-quality, low-cost service." Excluding $7.1 million of unrealized gains on the Company's future fuel hedge portfolio recorded during the quarter, the economic net income for the fourth quarter was $10.1 million or $0.07 per diluted share. In addition, the annual net income results include $34.7 million of unrealized gains on the Company's future fuel hedge portfolio, $3 million of gains on asset dispositions, and $3.3 million of gains on extinguishment of debt, net of tax. Excluding these items, the economic net income for 2009 was $93.6 million or $0.67 per diluted share. Network Diversification: The Company continued to diversify its coast-to-coast network and has increased its traffic to record levels in the Milwaukee and Orlando markets. AirTran Airways now offers flights to more cities from Orlando than any other airline and serves 18 of the top 20 markets from Milwaukee. This continued network diversification has paved the way for successful expansion into the Caribbean from Atlanta, Baltimore, and Orlando. "Further diversifying our network strengthens our Company and allows us to maximize revenue opportunities," said Kevin Healy, AirTran Airways' senior vice president, marketing and planning. "Expanding our presence in key markets like Baltimore, Milwaukee, and Orlando has been very successful and has allowed us to bring more of our award-winning service to these markets and surrounding communities. We have established a strong platform for future growth." Network diversification highlights for 2009 and to date include: -- Added service to the Caribbean with the following new destinations: Cancun, Mexico; Montego Bay, Jamaica; Nassau, Bahamas and Aruba. -- Initiated domestic service to seven new cities: Allentown, Pa.; Asheville, N.C.; Atlantic City, N.J.; Branson, Mo.; Charleston, W.Va.; Key West, Fla.; and Knoxville, Tenn. -- Added over 30 new routes, including nine from Atlanta, eight from Milwaukee, five from Baltimore, and 12 from AirTran's hometown of Orlando bringing the total number of destinations served nonstop from Orlando to 43. -- Announced new domestic service to Lexington, Ky.; Des Moines, Iowa; and Omaha, Neb. to begin in 2010. -- Established a marketing partnership with SkyWest Airlines to support AirTran's Milwaukee hub. Cost and Financial Performance In 2009, AirTran Airways continued to lead the industry with the lowest non-fuel operating cost per mile among major airlines on a stage-length adjusted basis. AirTran has been able to maintain this advantage by operating North America's newest all-Boeing fleet, high asset utilization, and driving efficiencies from all levels of the operation. "Maintaining our cost advantage is critical to the sustained success of AirTran Airways," said Arne Haak, AirTran Airways' senior vice president of finance, treasurer and chief financial officer. "Our cost structure is fundamental to the value we provide our customers in quality service and affordable fares. We remain focused on managing costs, improving our balance sheet and positioning ourselves to compete successfully in a difficult marketplace." During 2009, AirTran Airways significantly strengthened its liquidity and cash position through a number of transactions including extending and enhancing a $175 million credit facility and completing over $165 million in equity and debt financing. Cost and financial performance highlights for 2009 to date include: -- Annual non-fuel cost per available seat mile (CASM), adjusted of 6.39 cents - lowest among major airlines when adjusted for stage length. -- Full-time equivalent (FTE) positions per aircraft were 56.8 at year-end. -- Ended the year with $543 million in unrestricted cash. -- Received improvements in credit rating and outlook from major credit rating agencies. -- Annual fuel expense decreased $516 million compared to 2008. -- Hedged 40 percent of 2010 fuel requirements with benefits beginning at $60 per barrel. Other AirTran Airways Highlights: Other highlights of AirTran Airways' accomplishments in 2009 and to date include: -- Awarded the prestigious Market Leadership Award from the leading industry publication, Air Transport World, for AirTran's innovative combination of low-cost, high-quality service and response to the global financial crisis. -- Ranked #1 among all low-cost carriers for the second consecutive year in the Airline Quality Rating (http://www.aqr.aero/). This is the fifth consecutive year AirTran Airways ranked third or higher for quality among all U.S. carriers in this prestigious rating. -- Successfully ratified collective bargaining agreement with Teamsters Local 528 which represents mechanics and related Crew Members. -- Completed installation of Gogo Inflight Internet on all 138 AirTran Airways aircraft, becoming the first and only major airline to be 100 percent Wi-Fi equipped. -- Launched special livery aircraft in partnership with the Atlanta Falcons, Baltimore Ravens, Indianapolis Colts and Orlando Magic. -- Entered into a multi-year partnership with the Orlando Magic to become "Champions of the Community" sponsors while signing all-star center Dwight Howard. -- Partnered with the Milwaukee Brewers to establish the AirTran Airways Landing Zone at Miller Park and by signing Milwaukee Brewers slugger Ryan Braun. -- Signed Baltimore Ravens tackle and inspiration for the box office hit The Blind Side, Michael Oher, to a multi-year endorsement deal. -- Signed multi-year agreement to be a Presenting Sponsor of Marquette University Athletics and a Premier Corporate Partner of Marquette University. AirTran Holdings, Inc. will conduct a conference call to discuss the year-end and quarter's results today at 9:30 a.m. Eastern Standard Time. A live broadcast of the conference call will be available via the Internet in the investor relations section at http://www.airtran.com/. AirTran Airways, a subsidiary of AirTran Holdings, Inc. (NYSE:AAI) and a Fortune 1000 company, has been ranked the number one low cost carrier in the Airline Quality Rating study for the past two years. AirTran is the only major airline with Gogo Inflight Internet on every flight and offers coast-to-coast service on North America's newest all-Boeing fleet. Its low-cost, high-quality product also includes assigned seating, Business Class and complimentary XM Satellite Radio on every flight. To book a flight, visit 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, 2008. The Company disclaims any obligation or duty to update or correct any of its forward-looking statements. AirTran Airways: Christopher White (Media) 678-254-7442 Jason Bewley (Investor Relations) 407-318-5188 AirTran Holdings, Inc. Consolidated Statements of Operations (In thousands, except per share data and statistical summary) (Unaudited) Three Months Ended December 31, Percent 2009 2008 Change ---- ---- ------ Operating Revenues: Passenger $536,458 $553,230 (3.0) Other 61,974 36,185 71.3 ------ ------ Total operating revenues 598,432 589,415 1.5 Operating Expenses: Aircraft fuel 195,827 194,487 0.7 Salaries, wages and benefits 124,739 112,420 11.0 Aircraft rent 60,615 60,440 0.3 Maintenance, materials and repairs 52,968 38,555 37.4 Distribution 24,148 23,319 3.6 Landing fees and other rents 36,034 32,748 10.0 Aircraft insurance and security services 5,289 5,246 0.8 Marketing and advertising 7,150 9,361 (23.6) Depreciation 14,751 15,491 (4.8) (Gain) loss on asset dispositions 109 (4,218) - Other operating 50,698 48,147 5.3 ------ ------ Total operating expenses 572,328 535,996 6.8 ------- ------- Operating Income 26,104 53,419 (51.1) Other (Income) Expense: Interest income (490) 1,693 - Interest expense 22,899 22,144 3.4 Capitalized interest (448) (679) (34.0) Net (gains) losses on derivative financial instruments (12,680) 147,686 - ------- ------- Other (income) expense, net 9,281 170,844 (94.6) ----- ------- Income (Loss) Before Income Taxes 16,823 (117,425) - Income Tax Expense (Benefit) (268) 4,169 - Net Income (Loss) $17,091 $(121,594) - ======= ========= Income (Loss) per Common Share Basic $0.13 $(1.03) - Diluted $0.11 $(1.03) - Weighted-average Shares Outstanding Basic 133,909 118,034 13.4 Diluted 168,602 118,034 42.8 Operating margin 4.4 percent 9.1 percent (4.7) pts. Net margin 2.9 percent (20.6) percent 23.5 pts. Net margin, adjusted* 1.7 percent (21.7) percent 23.4 pts. Fourth Quarter Statistical Summary: Revenue passengers 5,911,553 5,754,446 2.7 Revenue passenger miles (000s) 4,511,080 4,218,819 6.9 Available seat miles (000s) 5,795,856 5,359,177 8.1 Passenger load factor 77.8 percent 78.7 percent (0.9) pts. Departures 63,118 61,142 3.2 Average stage length (miles) 733 700 4.7 Average fare $90.75 $96.14 (5.6) Average yield per RPM 11.89 cents 13.11 cents (9.3) Passenger revenue per ASM 9.26 cents 10.32 cents (10.3) Total revenue per ASM 10.33 cents 11.00 cents (6.1) Operating cost per ASM 9.87 cents 10.00 cents (1.3) Operating cost per ASM, adjusted* 9.87 cents 10.08 cents (2.1) Non-fuel operating cost per ASM 6.50 cents 6.37 cents 2.0 Non-fuel operating cost per ASM, adjusted* 6.49 cents 6.45 cents 0.6 Average cost of aircraft fuel per gallon $2.15 $2.32 (7.3) Average economic cost of aircraft fuel per gallon $2.09 $4.10 (49.0) Gallons of fuel burned (000s) 90,951 84,000 8.3 Operating aircraft in fleet at end of period 138 136 1.5 Average daily aircraft utilization (hours) 10.8 10.4 3.8 Full-time equivalent employees at end of period 7,844 7,489 4.7 * Statistical calculations for 2009 and 2008, on an adjusted basis, exclude gains and losses as detailed in the attached Reconciliation of GAAP Financial Information to Non-GAAP Financial Information. During the fourth quarter of 2009, we recorded a $2.4 million reduction in advertising expense to correct overstatements of Airtran is sending in addl graphs for their earns advertising expense recognized in prior periods. Our fourth quarter 2008 financial data has been restated to reflect the required retrospective application of our adoption of Accounting Standards Codification (ASC) 470-20, "Debt with Conversion and Other Options -Cash Conversion." The restatement resulted in a $1.4 million decrease and $3.2 million increase to operating income and net loss, respectively, for the three months ended December 31, 2008. Twelve Months Ended December 31, Percent 2009 2008 Change ---- ---- ------ Operating Revenues: Passenger $2,088,965 $2,413,609 (13.5) Other 252,477 138,869 81.8 ------- ------- Total operating revenues 2,341,442 2,552,478 (8.3) Operating Expenses: Aircraft fuel 678,835 1,194,938 (43.2) Salaries, wages and benefits 488,366 474,889 2.8 Aircraft rent 242,236 242,674 (0.2) Maintenance, materials and repairs 198,852 163,350 21.7 Distribution 94,688 100,400 (5.7) Landing fees and other rents 144,756 137,738 5.1 Aircraft insurance and security services 21,045 21,556 (2.4) Marketing and advertising 38,097 40,475 (5.9) Depreciation 56,871 59,049 (3.7) Gain on asset dispositions (2,964) (20,015) (85.2) Impairment of goodwill - 8,350 - Other operating 203,650 204,895 (0.6) ------- ------- Total operating expenses 2,164,432 2,628,299 (17.6) --------- --------- Operating Income (Loss) 177,010 (75,821) - Other (Income) Expense: Interest income (5,702) (3,679) 55.0 Interest expense 83,967 85,479 (1.8) Capitalized interest (1,692) (7,707) (78.0) Gain on extinguishment of debt (4,278) - - Net (gains) losses on derivative financial instruments (30,624) 150,836 - ------- ------- Other (income) expense, net 41,671 224,929 (81.5) ------ ------- Income (Loss) Before Income Taxes 135,339 (300,750) - Income Tax Expense (Benefit) 677 (34,416) - Net Income (Loss) $134,662 $(266,334) - ======== ========= Income (Loss) per Common Share Basic $1.09 $(2.44) - Diluted $0.95 $(2.44) - Weighted-average Shares Outstanding Basic 123,624 109,153 13.3 Diluted 146,891 109,153 34.6 Operating margin 7.6 percent (3.0) percent 10.6 pts. Net margin 5.8 percent (10.4) percent 16.2 pts. Net margin, adjusted* 4.0 percent (9.9) percent 13.9 pts. Twelve Month Statistical Summary: Revenue passengers 23,997,810 24,619,120 (2.5) Revenue passenger miles (000s) 18,588,036 18,955,843 (1.9) Available seat miles (000s) 23,294,117 23,809,190 (2.2) Passenger load factor 79.8 percent 79.6 percent 0.2 pts. Departures 251,694 260,120 (3.2) Average stage length (miles) 738 728 1.4 Average fare $87.05 $98.04 (11.2) Average yield per RPM 11.24 cents 12.73 cents (11.7) Passenger revenue per ASM 8.97 cents 10.14 cents (11.5) Total revenue per ASM 10.05 cents 10.72 cents (6.3) Operating cost per ASM 9.29 cents 11.04 cents (15.9) Operating cost per ASM, adjusted* 9.30 cents 11.09 cents (16.1) Non-fuel operating cost per ASM 6.38 cents 6.02 cents 6.0 Non-fuel operating cost per ASM, adjusted* 6.39 cents 6.07 cents 5.3 Average cost of aircraft fuel per gallon $1.87 $3.25 (42.5) Average economic cost of aircraft fuel per gallon $1.88 $3.60 (47.8) Gallons of fuel burned (000s) 363,215 367,169 (1.1) Operating aircraft in fleet at end of period 138 136 1.5 Average daily aircraft utilization (hours) 11.0 11.0 - Full-time equivalent employees at end of period 7,844 7,489 4.7 * Statistical calculations for 2009 and 2008, on an adjusted basis, exclude gains and losses as detailed in the attached Reconciliation of GAAP Financial Information to Non-GAAP Financial Information. During the fourth quarter of 2009, we recorded a $2.4 million reduction in advertising expense to correct overstatements of advertising expense recognized in prior periods. Our 2008 financial data has been restated to reflect the required retrospective application of our adoption of Accounting Standards Codification (ASC) 470-20, "Debt with Conversion and Other Options - Cash Conversion." The restatement resulted in a $3.8 million increase and $7.5 million decrease to operating loss and net loss, respectively, for the twelve months ended December 31, 2008. Reconciliation of GAAP Financial Information to Non-GAAP Financial Information Three and Twelve Months Ended December 31, 2009 and 2008 We prepare our financial statements in accordance with generally accepted accounting principles (GAAP). Within our press release, we make reference to certain non-GAAP financial measures including economic net income and adjusted net margin. Our disclosures may also exclude special or non-recurring items that we believe should be taken into consideration to more accurately measure and monitor our operating performance. Our disclosure of non-fuel operating cost per available seat mile (non-fuel CASM) is consistent with financial measures reported by other airlines and analysts. We believe that non-fuel CASM and non-fuel CASM adjusted provide a useful understanding of our operations. Both the cost and availability of fuel are subject to many economic and political factors and are therefore beyond our control. Our press release also contains information regarding the components of GAAP fuel expense and net gains and losses on derivative financial instruments. These amounts have been included as supplemental information. We disclose both the average fuel cost per gallon and the average economic fuel cost per gallon. Average fuel cost per gallon is based on fuel expense as measured by GAAP and includes realized gains and losses on fuel related derivatives instruments which are accounted for as hedges. Average economic fuel cost per gallon includes realized gains and losses on all fuel related derivative instruments, including those which were not accounted for as hedges, but does not include unrealized gains and losses recognized under GAAP. We consider our fuel derivative contracts an important tool in managing costs related to jet fuel purchases. We believe it is important to assess our financial performances by including the effect of the net cash settlements and excluding the mark-to-market adjustments for our unrealized gains and losses recorded in the income statement for contracts settling in future periods. We believe that these measures represent important internal measures of performance. Accordingly, where these non-GAAP measures are provided, it is done so that investors have the same financial data that management uses in evaluating performance with the belief that it will assist the investment community in assessing our underlying performance on a year-over-year and a quarter-over-quarter basis. However, because these measures are not determined in accordance with accounting principles generally accepted in the United States, such measures are susceptible to varying calculations and not all companies calculate the measures in the same manner. As a result, the aforementioned measures as presented may not be directly comparable to similarly titled measures presented by other companies. The non-GAAP measures are presented as supplemental information and not as alternatives to any GAAP measurements. Three months ended December 31, ------------ Dollars in thousands, unless 2009 2008 otherwise noted ---- ---- The following table calculates net margin, adjusted: Net income (loss) $17,091 $(121,594) (Gain) loss on extinguishment of debt, net of taxes - - Unrealized (gains) losses on derivative financial instruments, net of taxes (7,082) (2,010) Impairment of goodwill - - (Gain) loss on asset dispositions, net of taxes 109 (4,218) --- ------ Net income (loss), adjusted $10,118 $(127,822) ======= ========= Total operating revenues $598,432 $589,415 -------- -------- Net margin, adjusted 1.7% (21.7%) === ===== The following table calculates operating cost per ASM, adjusted: Total operating expenses $572,328 $535,996 Impairment of goodwill - - Gain (loss) on asset dispositions (109) 4,218 ---- ----- Operating expenses, adjusted $572,219 $540,214 ======== ======== ASMs (000) 5,795,856 5,359,177 --------- --------- Operating cost per ASM (cents), adjusted 9.87 10.08 ==== ===== The following table calculates non-fuel operating cost per ASM and non-fuel operating cost per ASM, adjusted: Total operating expenses $572,328 $535,996 Aircraft fuel (195,827) (194,487) -------- -------- Non-fuel operating cost $376,501 $341,509 ======== ======== ASMs (000) 5,795,856 5,359,177 Non-fuel operating cost per ASM (cents) 6.50 6.37 ==== ==== Total operating expenses $572,328 $535,996 Aircraft fuel (195,827) (194,487) Impairment of goodwill - - Gain (loss) on asset dispositions, net of taxes (109) 4,218 ---- ----- Non-fuel operating cost, adjusted $376,392 $345,727 ======== ======== ASMs (000) 5,795,856 5,359,177 Non-fuel operating cost per ASM (cents) adjusted 6.49 6.45 ==== ==== The following table provides detail of certain components of aircraft fuel expense and calculates average economic cost of aircraft fuel per gallon: Aircraft fuel expense $195,827 $194,487 Realized (gains) losses on derivatives that do not qualify for hedge accounting, recorded in net (gains) losses on derivative financial instruments (5,596) 40,327 Realized (gains) losses on derivatives related to 2009 contracts terminated, recorded in net (gains) losses on derivatives financial instruments - 109,370 --- ------- Economic fuel expense $190,231 $344,184 ======== ======== Gallons of fuel burned 90,951 84,000 ------ ------ Economic cost of aircraft fuel per gallon (dollars) $2.09 $4.10 ===== ===== The following table calculates diluted earnings (loss) per share, adjusted for the three and twelve months ended December 31, 2009 and 2008: Net income (loss) $17,091 $(121,594) (Gain) loss on extinguishment of debt, net of taxes - - Unrealized (gains) losses on derivative financial instruments, net of taxes (7,082) (2,010) Impairment of goodwill - - (Gain) loss on asset dispositions, net of taxes 109 (4,218) --- ------ Net income (loss), adjusted $10,118 $(127,822) ======= ======== Plus income effect of assumed interest on convertible debt 956 - --- --- Income (loss) after assumed conversion, diluted $11,074 $(18,452) ======= ======== Adjusted weighted-average shares outstanding, diluted 152,402 127,822 ------- ------- Diluted earnings (loss)per share (dollars), adjusted $0.07 $(1.08) ===== ====== Twelve months ended December 31, Dollars in thousands, unless 2009 2008 otherwise noted ---- ---- The following table calculates net margin, adjusted: Net income (loss) $134,662 $(266,334) (Gain) loss on debt extinguishment, net of taxes (3,333) - Unrealized (gains) losses on derivative financial instruments, net of taxes (34,746) 24,531 Impairment of goodwill - 8,350 (Gain) loss on asset dispositions, net of taxes (2,964) (20,015) ------ ------- Net income (loss), adjusted $93,619 $(253,468) ======= ========= Total operating revenues $2,341,442 $2,552,478 ---------- ---------- Net margin, adjusted 4.0% (9.9%) === ==== The following table calculates operating cost per ASM, adjusted: Total operating expenses $2,164,432 $2,628,299 Impairment of goodwill - (8,350) Gain (loss) on asset dispositions 2,964 20,015 ----- ------ Operating expenses, adjusted $2,167,396 $2,639,964 ========== ========== ASMs (000) 23,294,117 23,809,190 ---------- ---------- Operating cost per ASM (cents), adjusted 9.30 11.09 ==== ===== The following table calculates non-fuel operating cost per ASM and non-fuel operating cost per ASM, adjusted: Total operating expenses $2,164,432 $2,628,299 Aircraft fuel (678,835) (1,194,938) -------- ---------- Non-fuel operating cost $1,485,597 $1,433,361 ========== ========== ASMs (000) 23,294,117 23,809,190 Non-fuel operating cost per ASM (cents) 6.38 6.02 ==== ==== Total operating expenses $2,164,432 $2,628,299 Aircraft fuel (678,835) (1,194,938) Impairment of goodwill - (8,350) Gain (loss) on asset dispositions, net of taxes 2,964 20,015 ----- ------ Non-fuel operating cost, adjusted $1,488,561 $1,445,026 ========== ========== ASMs (000) 23,294,117 23,809,190 Non-fuel operating cost per ASM (cents) adjusted 6.39 6.07 ==== ==== The following table provides detail of certain components of aircraft fuel expense and calculates average economic cost of aircraft fuel per gallon: Aircraft fuel expense $678,835 $1,194,938 Realized (gains) losses on derivatives that do not qualify for hedge accounting recorded in net (gains) losses on derivative financial instruments 4,122 16,936 Realized (gains) losses on derivatives related to 2009 contracts terminated, recorded in net (gains) losses on derivatives financial instruments - 109,370 --- ------- Economic fuel expense $682,957 $1,321,244 ======== ========== Gallons of fuel burned 363,215 367,169 ------- ------- Economic cost of aircraft fuel per gallon (dollars) $1.88 $3.60 ===== ===== The following table calculates diluted earnings (loss) per share, adjusted for the three and twelve months ended December 31, 2009 and 2008: Net income (loss) $134,662 $(266,334) (Gain) loss on extinguishment of debt, net of taxes (3,333) - Unrealized (gains) losses on derivative financial instruments, net of taxes (34,746) 24,531 Impairment of goodwill - 8,350 (Gain) loss on asset dispositions, net of taxes (2,964) (20,015) ------ ------- Net income (loss), adjusted $93,619 $(253,468) ======= ========= Plus income effect of assumed interest on convertible debt 5,121 - ----- --- Income (loss) after assumed conversion, diluted $98,740 $(253,468) ======= ========= Adjusted weighted-average shares outstanding, diluted 146,891 109,153 ------- ------- Diluted earnings (loss) per share (dollars), adjusted $0.67 $(2.32) ===== ====== COMPANY ESTIMATES/FORWARD LOOKING STATEMENTS The following table contains our year-over-year capacity projection for 2010: Period Forecasted ASMs ------ --------------- Q1 2010 Up approximately 7% - 8% Q2 2010 Up approximately 4% - 4-1/2% Q3 2010 Up approximately 2% Q4 2010 Up approximately 2% 2010 Up approximately 3%-4% The following table contains our year-over-year projections for Q1 2010 total unit revenues, non-fuel operating unit costs, and average cost per gallon of fuel, all in and 2010 non-fuel operating costs: Projection ---------- Total unit revenue per ASM in Q1 Down 2-1/2% to 3-1/2% Non-fuel unit operating cost per ASM in Q1 Up 2-1/2% to 3% Non-fuel unit operating cost per ASM 2010 Up 3% to 4% Average cost per gallon of fuel, all-in Q1 $2.25 to $2.30 The following table contains our percentage of fuel hedged for 2010: % of Fuel Hedged ---------------- Q1 2010 46% Q2 2010 40% Q3 2010 37% Q4 2010 39% 2010 40% DATASOURCE: AirTran Holdings, Inc. CONTACT: Media, Christopher White, +1-678-254-7442, or Investor Relations, Jason Bewley, +1-407-318-5188, both of AirTran Airways Web Site: http://www.airtran.com/

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