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AirTran bolsters liquidity and increases financial flexibility

1-Oct-2009 8:20 AM

AirTran announced (30-Sep-2009) it has entered into agreements with its principal credit facility lender, and its largest credit card processor, extending and modifying both agreements. The transactions are effective immediately with the carrier expecting to end the current fiscal quarter with more than USD400 million of unrestricted cash and short-term investments:

  • USD175 million of credit facilities: Extended the expiration date of its combined letter of credit and revolving line of credit facilities to 31-Dec-2010.
  • Credit card processing agreements: Agreed to extend the current credit card processing agreement from 31-Dec-2009, to 31-Dec-2010. [more]