Not a lot of money, but a profit of 2.4 million is better than a loss, especially in a weak quarter.
[Edited 2007-04-25 14:25:19]
CHICAGO, April 25 (Reuters) - AirTran Holdings Inc. , parent of low-cost carrier AirTran Airways, posted a quarterly profit on Wednesday, reversing a year-ago loss as it charged higher fares.
The Orlando, Florida-based airline, said its net profit in the seasonally weak first quarter amounted to $2.4 million, or 3 cents per share, compared with a loss of $8.8 million, or 10 cents per share, a year earlier.
AirTran, which has its hub in Atlanta, said its revenue rose 21.3 percent to $504.5 million. The carrier said its average fare rose nearly 6 percent with a load factor of 70.1 percent.
The airline said it paid $166 million for fuel in the quarter, an increase of 13.7 percent over the same period in 2006.
AirTran, the 10th largest U.S. airline by revenue, has made a hostile bid worth about $389 million for rival Midwest Air Group . Midwest's management has called the offer "inadequate" and has encouraged shareholders to reject it.