AirTran revenue up 11.7%, operating profit plummets 94% in 1Q2010

AirTran Holdings revenue up 11.7% - financial/traffic highlights for the three months ended 31-Mar-2010:

• Total operating revenue: USD605.1 million, +11.7% year-on-year;
• Total operating costs: USD602.1 million, +21.8%;
  • Fuel: USD200.2 million, +50.6%;
  • Labour: USD130.1 million, +10.3%;
• Operating profit: USD3.0 million, -93.6%;
• Net profit (loss): (USD12.0 million), compared with a profit of USD28.7 million in the previous corresponding period;
• Passenger numbers: 5.5 million, +3.4%;
• Passenger load factor: 77.2%, +0.9 ppt;
• Average fare*: USD98.02, +7.8%;
• Average yield: USD 12.34 cents, +3.7%;
• Passenger revenue per ASM: USD 9.53 cents, +5.1%;
• Total revenue per ASM: USD 10.65 cents, +5.3%;
• Operating cost per ASM: USD 10.59 cents, +14.9%;
• 2Q2010 Forecast:
  • Capacity (ASMs): +4.0% year-on-year;
  • Total unit revenue per ASM: +13.0% to +14.0%;
  • Non-fuel operating cost per ASM: +4.0% to +4.5%;
• FY2010 Forecast:
  • Non-fuel operating cost per ASM: +4.0% to +4.5%. [more]

*Excludes transportation taxes

AirTran: "This winter proved to be one of historic inclement weather for much of the East Coast and particularly for some of our busiest operations like Baltimore/Washington and Atlanta. Even though the weather was tough this winter, we are experiencing significant revenue growth and passenger demand. We are well positioned for the future and are beginning to reap the rewards of our diversification efforts and the broader economic recovery," Bob Fornaro, Chairman, President and CEO. Source: AirTran, 21-Apr-2010.