AirTran Airways Announces Additional Fuel Hedge Agreements For 2001.Business Editors/Travel Writers ORLANDO, Fla.--(BUSINESS WIRE)--Jan. 4, 2001 AirTran Airways AirTran Airways is a low-cost airline that is a Delaware corporation with headquarters in Orlando, Florida, USA and is a subsidiary of AirTran Holdings. AirTran operates over 750 daily flights throughout the eastern USA and the Midwest, including over 270 daily departures from , a wholly-owned subsidiary of AirTran Holdings AirTran Holdings (NYSE: AAI) is a Nevada corporation that operates as an airline holding company. Its primary asset is AirTran Airways. History After the large amount of negative publicity surrounding the Flight 592 incident, ValuJet Airlines suffered serious , Inc. (AMEX AMEX See: American Stock Exchange :AAI AAI American Association of Immunologists. ), today announced that it has entered into fuel hedging Fuel hedging is the practice, often employed by airline companies, of making advance purchases of fuel at a fixed price for future delivery to protect against the shock of anticipated rises in price. See also
"The price of jet fuel has been extremely volatile over the past year, and there are indications that a recent easing of crude oil prices might be affected by international events," said AirTran Airways president Robert Fornaro. "By taking advantage of the current pricing atmosphere, this move will help AirTran Airways better manage its fuel costs over the coming year." When combined with current hedge positions, AirTran Airways will have hedged approximately 50 percent of its first quarter 2001 fuel needs at a price no higher than $29 per barrel of crude oil, and approximately 30 percent of its needs for the remainder of 2001 at a price no higher than $24 per barrel of crude oil. Systemwide, AirTran Airways operates 310 daily departures to 34 cities. Offering the convenience of easy, same concourse connections in Atlanta, AirTran Airways operates 137 daily departures from Hartsfield Atlanta International Airport, the world's busiest airport World's busiest airport is a claim that is fiercely fought over by the owners of the world's largest airports. The definition of "busiest" is debated as well, with claims being staked on the basis of aircraft operations, cargo traffic or total passengers. . AirTran Airways provides everyday, affordable air travel throughout the eastern United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , and unlike other airlines, never requires a roundtrip purchase or Saturday night stay. AirTran Airways is the launch customer for the Boeing 717, today's newest, most innovative and most environmentally friendly Environmentally friendly, also referred to as nature friendly, is a term used to refer to goods and services considered to inflict minimal harm on the environment.[1] commercial aircraft. AirTran Airways is a subsidiary of AirTran Holdings, Inc. (AMEX:AAI). For more information and reservations, call your travel agent, 800-AIRTRAN (800-247-8726), 770-994-8258 (in Atlanta), or visit the AirTran Airways' website at www.airtran.com. Editor's Note: The company's revenue figures are released quarterly. Statements regarding the Company's predictions of fuel prices and cost control efforts are forward-looking statements and are not historical facts. Instead, they are estimates or projections involving numerous risks or uncertainties, including but not limited to, consumer demand and acceptance of services offered by the Company, the Company's ability to maintain current cost levels, disruptions in the supply or production of jet fuel, the ability of financial partners to honor hedging agreements, regulatory matters and general economic conditions. The Company disclaims any obligation to update or correct any of its forward-looking statements. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained from time to time in the company's SEC filings, including but not limited to the company's report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 1999. Copies of this filing may be obtained by contacting the Company or the SEC. |
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