AirTran Airways Holdings reports a 2Q net profit of $12.4 million
AirTran Holdings, Inc. (Orlando) the parent company of AirTran Airways, Inc., reported a net profit of $12.4 million or $0.09 per diluted share for the second quarter of 2010. Excluding $26.4 million in unrealized losses, net of taxes, related to the reduction in value of future fuel hedges, the Company’s net income for the quarter would have been $38.8 million dollars or $0.23 per diluted share. This result is particularly noteworthy given the 37.2 percent increase in the per-gallon cost of jet fuel, the airline’s single largest expense, year-over-year.
AirTran set quarterly records for revenue passenger miles flown, load factor and enplaned passengers. For the first time in AirTran Airways’ history, load factor topped 83 percent in the second quarter.
Copyright Photo: Norbert G. Raith. Boeing 717-2BD N949AT (msn 55003) painted in the Orlando Magic scheme, arrives at the ATL hub.