AirTran 737-2BD (33924/1940) N288AT arrives at Las Vegas McCarren International Airport (LAS/KLAS) sporting the Georgia State University "Panthers" logo.(Photo by Michael Carter)
AirTran Airways parent AirTran Holdings posted 2010 net income of $38.5 million, down 71.4% from a $134.7 million profit in 2009. Though its earnings declined, 2010 marked the carrier's eighth profitable year out of the last nine. It is in the process of being acquired by Southwest Airlines.
Fourth-quarter net income was $1.9 million, an 88.7% fall from a $17.1 million profit in the 2009 December quarter, on a 7.9% lift in revenue to $645.5 million. The airline's executives did not discuss the results with analysts and reporters, citing the pending takeover by SWA. In a statement, AirTran attributed the drop in full-year and fourth-quarter earnings to rising fuel costs, noting that the average price of jet fuel per gallon it purchased in the fourth quarter rose 17.2% year-over-year to $2.52. Full-year fuel expense jumped 27.8% to $867.5 million.
Full-year revenue heightened 11.9% to $2.62 billion while expenses climbed 15.1% to $2.49 billion, producing an operating profit of $128.2 million, down 27.6% from a $177 million operating profit in 2009. Annual traffic increased 5.3% to 19.58 billion RPMs on a 3.3% lift in capacity to 24.06 billion ASMs, producing a load factor of 81.4%, up 1.6 points. Yield improved 7% to 12.03 cents as RASM grew 8.3% to 10.88 cents and CASM rose 11.4% to 10.35 cents. CASM ex-fuel escalated 5.8% to 6.75 cents.
(Aaron Karp - ATWOnline News)
Fourth-quarter net income was $1.9 million, an 88.7% fall from a $17.1 million profit in the 2009 December quarter, on a 7.9% lift in revenue to $645.5 million. The airline's executives did not discuss the results with analysts and reporters, citing the pending takeover by SWA. In a statement, AirTran attributed the drop in full-year and fourth-quarter earnings to rising fuel costs, noting that the average price of jet fuel per gallon it purchased in the fourth quarter rose 17.2% year-over-year to $2.52. Full-year fuel expense jumped 27.8% to $867.5 million.
Full-year revenue heightened 11.9% to $2.62 billion while expenses climbed 15.1% to $2.49 billion, producing an operating profit of $128.2 million, down 27.6% from a $177 million operating profit in 2009. Annual traffic increased 5.3% to 19.58 billion RPMs on a 3.3% lift in capacity to 24.06 billion ASMs, producing a load factor of 81.4%, up 1.6 points. Yield improved 7% to 12.03 cents as RASM grew 8.3% to 10.88 cents and CASM rose 11.4% to 10.35 cents. CASM ex-fuel escalated 5.8% to 6.75 cents.
(Aaron Karp - ATWOnline News)
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