AirTran Holdings, Inc., Reports Record Performance in Third Quarter
Tuesday October 30
- Revenue, Passenger Count and Load Factor Set All-Time Highs -
- Unit Costs Continue to Decline -
ORLANDO, Fla., Oct. 30 /PRNewswire-FirstCall/ -- AirTran Holdings, Inc., the parent company of AirTran Airways, Inc., today reported third-quarter net income of $10.6 million, or $0.11 per diluted share, compared to a loss of $4.6 million, or $0.05 per diluted share, during the same period last year.
Included in the third-quarter 2007 results is a one-time, net of tax charge of $6.6 million, or $0.07 per diluted share, related to costs associated with the effort to acquire Midwest Air Group. Without this charge, AirTran Airways net income was $17.3 million, or $0.18 per diluted share.
Capacity as measured in available seat miles (ASMs) increased 20.9 percent while traffic measured in revenue passenger miles (RPMs) increased 32.3 percent resulting in an all-time record load factor of 80.1 percent. During the quarter AirTran Airways served a record 6,442,786 passengers, up 25.4 percent from the year-ago period.
Operating income reached a third-quarter record of $38.5 million representing a 6.3 percent operating margin, a 7.1 percentage point improvement over the same period last year.
During the third quarter AirTran Airways' non-fuel unit costs set another all-time record low of 5.92 cents per ASM representing a 2 percent reduction year over year. Total operating unit costs declined 4 percent to 9.49 cents per ASM in the same period.