AirTran Holdings, Inc. (NYSE:AAI) – Today’s First Hour Top Percentage Mover
AirTran Holdings, Inc. (NYSE:AAI) – AirTran swings to 2Q profit of $78.4M
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AirTran Holdings Inc., (NYSE:AAI) parent of discount carrier AirTran Airways, on Wednesday posted a $78.4 million second-quarter profit even as revenue fell almost 13 percent.The earnings news offered a bright spot in a struggling industry, which has been hit hard by the recession.
Chief Executive Bob Fornaro told analysts during a conference call that the industry likely faces a slow recovery, but AirTran's low cost structure puts it in a good position, giving it more flexibility to offer lower fares. Still, the airline is being cautious and doesn't plan to grow in 2010.
After a gap up opening at $6.10, the stock is currently trading at the highest point of the day at $6.49 moved up about 13% on over 1.75 million shares. In the last 52-week, the stock has been trading within a range of $1.50-$8.68.
About AirTran Holdings, Inc.
AirTran Holdings, Inc. (AirTran) conducts the flight operations, through its wholly owned subsidiary, AirTran Airways, Inc. The Company is engaged in operating scheduled airlines in the United States. As of February 2, 2009, the Company operated 86 Boeing B717-200 aircraft (B717) and 50 Boeing B737-700 aircraft (B737) offering approximately 700 scheduled flights per day to 56 locations in the United States (including San Juan, Puerto Rico). The entire fleet of the Company is comprised of B717 and B737 aircrafts. As of February 2, 2009, the Company had a combined total of 136 aircrafts.
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