UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) February 1, 2011
AirTran Holdings, Inc.
(Exact name of registrant as specified in its charter)
State of Incorporation: Nevada
| Commission file number: 1-15991 | I.R.S. Employer Identification No: 58-2189551 |
9955 AirTran Boulevard, Orlando, Florida 32827
(Address of principal executive offices) (Zip Code)
(407) 318-5600
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Items to be Included in this Report
| Item 8.01 | Other Events. |
Summary Consolidated Financial Data of AirTran
The following statement of operations data for the years ended December 31, 2009, 2008, 2007, 2006 and 2005 and the balance sheet data as of December 31, 2009, 2008, 2007, 2006 and 2005 have been derived from the audited consolidated financial statements of AirTran Holdings, Inc. (“AirTran”) for such years.
The statement of operations data for the year ended December 31, 2010 and the balance sheet data as of December 31, 2010 are preliminary. This information is unaudited, but, in the opinion of AirTran’s management, contains all adjustments necessary to present fairly AirTran’s financial position and results of operations for the period indicated.
You should read this selected historical financial data for years prior to 2010 together with the audited financial statements, the accompanying notes and management’s discussion and analysis of financial condition and results of operations of AirTran contained in its Annual Reports on Form 10-K for the years presented. Once AirTran’s Annual Report on Form 10-K for the year ended December 31, 2010 is filed you should read the selected historical financial data for 2010 together with the audited financial statements, the accompanying notes and management’s discussion and analysis of AirTran’s financial condition and results of operations.
Statement of Operations Data of AirTran
(In millions, except per share amounts)
| Year Ended December 31, | ||||||||||||||||||||||||
| 2010 Unaudited |
2009 | 2008 | 2007 | 2006 | 2005 | |||||||||||||||||||
| Operating revenue |
$ | 2,619 | $ | 2,341 | $ | 2,552 | $ | 2,310 | $ | 1,892 | $ | 1,450 | ||||||||||||
| Operating expenses |
2,491 | 2,164 | 2,628 | 2,167 | 1,852 | 1,427 | ||||||||||||||||||
| Operating income (loss) |
128 | 177 | (76 | ) | 143 | 40 | 23 | |||||||||||||||||
| Income (loss) before income taxes |
60 | 136 | (300 | ) | 84 | 24 | 15 | |||||||||||||||||
| Income taxes |
21 | 1 | (34 | ) | 33 | 10 | 6 | |||||||||||||||||
| Net income (loss) (1) |
39 | 135 | (266 | ) | 51 | 14 | 9 | |||||||||||||||||
| Earnings (loss) per share: |
||||||||||||||||||||||||
| Basic |
0.28 | 1.09 | (2.44 | ) | 0.55 | 0.16 | 0.11 | |||||||||||||||||
| Diluted |
0.26 | 0.95 | (2.44 | ) | 0.54 | 0.16 | 0.10 | |||||||||||||||||
| Cash dividends declared per common share |
— | — | — | — | — | — | ||||||||||||||||||
| (1) Includes the following income (expense) items: |
||||||||||||||||||||||||
| Impact on extinguishment of debt, net of taxes |
— | 3 | — | — | — | — | ||||||||||||||||||
| Unrealized gains or losses on derivative financial instruments, net of taxes |
9 | 35 | (25 | ) | — | — | — | |||||||||||||||||
| Gain on asset dispositions, net of taxes |
— | 3 | 20 | 3 | — | — | ||||||||||||||||||
| Impairment of goodwill |
— | — | (8 | ) | — | — | — | |||||||||||||||||
| Midwest exchange offer expenses, net of taxes |
— | — | — | (7 | ) | — | — | |||||||||||||||||
| Reduction to aircraft fuel expense due to a claim for |
8 | — | — | — | — | — | ||||||||||||||||||
| refund of fuel taxes previously paid (not net of taxes) |
||||||||||||||||||||||||
| Expenses incurred in connection with both the proposed acquisition and certain litigation (not net of taxes) |
(19 | ) | — | — | — | — | — |
Balance Sheet Data of AirTran
(In millions)
| As of December 31, | ||||||||||||||||||||||||
| 2010 Unaudited |
2009 | 2008 | 2007 | 2006 | 2005 | |||||||||||||||||||
| Unrestricted cash, cash equivalents and short-term investments |
$ | 454 | $ | 544 | $ | 335 | $ | 318 | $ | 310 | $ | 371 | ||||||||||||
| Total assets |
2,179 | 2,284 | 2,085 | 2,072 | 1,616 | 1,160 | ||||||||||||||||||
| Long-term debt and capital lease obligations, excluding current portion |
877 | 932 | 943 | 938 | 697 | 369 | ||||||||||||||||||
| Stockholders’ equity |
539 | 502 | 281 | 474 | 409 | 383 | ||||||||||||||||||
Signature(s)
Pursuant to the Requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the Undersigned hereunto duly authorized.
| AirTran Holdings, Inc. | ||||
| Date: February 1, 2011 | By: | /s/ Arne G. Haak | ||
| Arne G. Haak | ||||
| Senior Vice President of Finance, Treasurer and Chief Financial Officer | ||||