Exhibit 12.1
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Amtran, Inc.
Calculation of "Earnings" and "Fixed Charges" (Unaudited)
Prepared: 7/26/00
1992 1993 1994 1995 1996
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Earnings:
<S> <C> <C> <C> <C> <C>
Pre-tax income (loss) from continuing operations (2,643,000) 3,866,000 5,879,000 14,653,000 (39,581,000)
Fixed charges 17,726,894 16,436,282 18,081,849 22,430,142 26,155,258
Less: capitalized interest add-back - - (140,000) (1,295,000) (1,350,218)
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Total Earnings 15,083,894 20,302,282 23,820,849 35,788,142 (14,775,960)
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Fixed Charges:
Interest expense 6,898,000 3,872,000 3,656,000 4,163,000 4,465,000
Interest capitalized during period - - 140,000 1,295,000 1,350,218
Debt issue cost amortization 24,311 38,616 419,223 649,139 881,239
Bank commitment fees 525,833 409,166 452,876 535,003 695,801
Interest portion of rental expense 10,278,750 12,116,500 13,413,750 15,788,000 18,763,000
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Total Fixed Charges 17,726,894 16,436,282 18,081,849 22,430,142 26,155,258
Deficiency of earnings available to cover fixed charges (40,931,218)
5,739,000 13,358,000
Ratio or earnings to fixed charges 1.32 1.60 n/a
1997 1998 1999 3/31/1999 3/31/2000
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Earnings:
<S> <C> <C> <C> <C> <C>
Pre-tax income (loss) from continuing operations 6,027,000 67,210,000 77,795,312 27,443,418 (3,070,869)
Fixed charges 28,180,507 32,109,595 44,703,663 11,125,947 14,021,478
Less: capitalized interest add-back (702,626) (2,039,517) (3,874,651) (944,095) (837,518)
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Total Earnings 33,504,881 97,280,078 118,624,324 37,625,270 10,113,091
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Fixed Charges:
Interest expense 9,454,000 12,808,000 20,965,922 5,073,582 7,659,975
Interest capitalized during period 702,626 2,039,517 3,874,651 944,095 837,518
Debt issue cost amortization 1,367,272 1,347,099 1,574,424 445,920 476,624
Bank commitment fees 907,109 248,979 295,916 62,600 101,111
Interest portion of rental expense 15,749,500 15,666,000 17,992,750 4,599,750 4,946,250
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Total Fixed Charges 28,180,507 32,109,595 44,703,663 11,125,947 14,021,478
Deficiency of earnings available to cover fixed charges (3,908,387)
5,324,374 65,170,483 73,920,661 26,499,323
Ratio or earnings to fixed charges 1.19 3.03 2.65 3.38 n/a
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Interest Portion of rental expense is the aircraft rent and other rent expense
multiplied by 25%
