AirTran Airways reduces focus on growth ahead; attention on returning to profitability
AirTran Airways announced plans to reduce capacity by approximately 7-8% during the last four months of 2008, with CEO, Robert Fornaro, stating, "our priorities have clearly shifted. Growth is far down the list of things we're interested in." Instead, the airline plans to focus on building available cash reserves and returning to profitability. The LCC reported a net loss of USD13.5 million in the three months ended 30-Jun-08, compared to a net profit of USD42.1 million in the previous corresponding period.
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