AirTran announces $38.5m net income for 2010

AirTran Holdings, the parent company of AirTran Airways, has reported net income of $38.5 million on revenue of $2.6 billion for the full year 2010.

The news means that AirTran has reported profits for eight of the past nine years. For the fourth quarter of 2010, the company recorded net income of $1.9 million on revenue of $645.5 million.

“What we accomplished in 2010 should be a great source of pride for our 8,500 dedicated crew members,” declared Bob Fornaro, AirTran Airways’ chairman, president and chief executive officer. “Most significantly, during 2010 we hit the ball out of the park with our outstanding operational performance and customer service. We also entered into a seven-year lease for expanded facilities at Hartsfield-Jackson Atlanta International Airport and completed a five-year agreement with our pilots. As we look forward to our pending acquisition by Southwest Airlines in 2011, our airline is in the best operational shape ever. We are very well positioned for the next chapter of our exciting history.”

During 2010, AirTran agreed to be acquired by Southwest Airlines, the largest low-fare airline in the US. The proposed acquisition is subject to customary shareholder and regulatory approvals and if approved, the acquisition of AirTran by Southwest Airlines is expected to occur in the second quarter of 2011.

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