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AIRTRAN TO SELL STOCK

 MINNEAPOLIS/ST. PAUL, Sept. 29 /PRNewswire/ -- AirTran Corporation (NASDAQ: ATCC) announced today that it has entered into a preliminary agreement to sell 1,379,310 shares of its common stock, $.01 par value, to Carl R. Pohlad, a Minneapolis investor, in a private placement. The sale price for the stock is $7.25 per share, or $10 million in the aggregate. The transaction is subject to completion of a definitive agreement, to federal aviation regulatory compliance, to receipt of an investment banker's opinion respecting the fairness of the sale price, and to certain other conditions. According to Robert D. Swenson, AirTran's president and chief executive officer, the transaction is scheduled to close on or before Oct. 15, 1993. Swenson stated further that he welcomes Pohlad as a shareholder and that "the infusion of $10 million of equity from this transaction gives AirTran considerable added strength and flexibility to permit the continued pursuit of its growth objectives."
 AirTran is the holding company of Mesaba Aviation, Inc., a regional airline currently providing scheduled passenger service to 47 cities under the name Mesaba/Northwest Airlink.
 -0- 9/29/93
 /CONTACT: Philip L. Swenson, senior vice president, of Mesaba Aviation, 612-726-5151, ext. 314, (fax) 612-726-1568/
 (ATCC)


CO: AirTran Corporation; Mesaba Aviation, Inc.; Northwest Airlink ST: Minnesota IN: AIR SU:

DS-PB -- MN004 -- 6659 09/29/93 08:48 EDT
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Publication:PR Newswire
Date:Sep 29, 1993
Words:224
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