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<CAPTION>
AMTRAN, INC.
CALCULATION OF "EARNINGS" AND "FIXED CHARGES"
PREPARED: 8/29/00
1992 1993 1994 1995 1996 1997
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<S> <C> <C> <C> <C> <C> <C>
EARNINGS:
Pre-tax income (loss) from
continuing operations (2,643,000) 3,866,000 5,879,000 14,653,000 (39,581,000) 6,027,000
Fixed charges 17,726,894 16,436,282 18,081,849 22,430,142 26,155,258 28,180,507
Less: capitalized interest add-back - - (140,000) (1,295,000) (1,350,218) (702,626)
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TOTAL EARNINGS 15,083,894 20,302,282 23,820,849 35,788,142 (14,775,960) 33,504,881
====================================================================================
FIXED CHARGES:
Interest expense 6,898,000 3,872,000 3,656,000 4,163,000 4,465,000 9,454,000
Interest capitalized during period - - 140,000 1,295,000 1,350,218 702,626
Debt issue cost amortization 24,311 38,616 419,223 649,139 881,239 1,367,272
Bank commitment fees 525,833 409,166 452,876 535,003 695,801 907,109
Interest portion of rental expense 10,278,750 12,116,500 13,413,750 15,788,000 18,763,000 15,749,500
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TOTAL FIXED CHARGES 17,726,894 16,436,282 18,081,849 22,430,142 26,155,258 28,180,507
DEFICIENCY OF EARNINGS AVAILABLE
TO COVER FIXED CHARGES 5,739,000 13,358,000 (40,931,218) 5,324,374
RATIO OR EARNINGS TO FIXED CHARGES 1.32 1.60 n/a 1.19
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<TABLE>
<CAPTION>
3 MOS 3 MOS 6 MOS 6 MOS
1998 1999 3/31/99 3/31/00 6/30/99 6/30/00
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<S> <C> <C> <C> <C> <C> <C>
EARNINGS:
Pre-tax income (loss) from
continuing operations 67,210,000 77,795,312 27,443,418 (3,070,869) 54,268,078 9,477,857
Fixed charges 32,109,595 44,703,663 11,125,947 14,021,478 22,082,478 28,530,739
Less: capitalized interest add-back (2,039,517) (3,874,651) (944,095) (837,518) (1,976,855) (1,540,713)
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TOTAL EARNINGS 97,280,078 118,624,324 37,625,270 10,113,091 74,373,701 36,467,883
====================================================================================
FIXED CHARGES:
Interest expense 12,808,000 20,965,922 5,073,582 7,659,975 10,117,799 15,642,326
Interest capitalized during period 2,039,517 3,874,651 944,095 837,518 1,976,855 1,540,713
Debt issue cost amortization 1,347,099 1,574,424 445,920 476,624 837,937 1,030,289
Bank commitment fees 248,979 295,916 62,600 101,111 138,887 196,411
Interest portion of rental expense 15,666,000 17,992,750 4,599,750 4,946,250 9,011,000 10,121,000
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TOTAL FIXED CHARGES 32,109,595 44,703,663 11,125,947 14,021,478 22,082,478 28,530,739
DEFICIENCY OF EARNINGS AVAILABLE
TO COVER FIXED CHARGES 65,170,483 73,920,661 26,499,323 (3,908,387) 52,291,223 7,937,144
RATIO OR EARNINGS TO FIXED CHARGES 3.03 2.65 3.38 n/a 3.37 1.28
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Interest Portion of rental expense is the aircraft rent and other rent
expense *25%
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