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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) May 15, 2000
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AirTran Holdings, Inc.
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(Exact name of registrant as specified in its charter)
Nevada 0-26914 58-2189551
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(State or other (Commission (I.R.S. Employer
jurisdiction File Number) Identification No.)
of incorporation)
9955 AirTran Boulevard, Orlando, Florida 32827
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (407) 251-5600
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(Former name or former address, if changed since last report.)
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Item 5. Other Events
On May 15, 2000, AirTran Holdings, Inc. (the "Company") announced that
its operating subsidiary, AirTran Airways, Inc., signed an Amendment
to its Purchase Agreement with The Boeing Company regarding the Boeing
717 aircraft under contract. A copy of the press release is filed as
an Exhibit to this report on Form 8-K.
Item 7. Financial Statements and Exhibits
(c) Exhibits. The following exhibit is furnished as a part of this
Report. Exhibit numbers refer to Item 601 of Regulation S-K. 99-Press
Release issued on May 15, 2000.
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.
May 15, 2000 By: /s/ Robert L. Fornaro
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Robert L. Fornaro
Chief Financial Officer
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AirTran Airways Announces Financing
Commitment for 20 New Aircraft
Significantly Enhances Cash Flow and Reduces Capital Risks
Orlando, Fla. (May 15, 2000) - AirTran Holdings, Inc., (Nasdaq:AAIR), parent
company of AirTran Airways, today announced that it has received financing
commitments for the next 20 Boeing 717 aircraft to be delivered to the airline
between May 2000 and February 2002.
Additionally, AirTran Airways has significantly restructured its aircraft
purchase agreement with The Boeing Company for its Boeing 717-200 aircraft,
providing for a revised delivery schedule and advanced payment timetable.
"The new delivery schedule, the revisions to the progress payment facility, and
the financing commitment provide tremendous benefits to AirTran Airways," said
Joe Leonard, AirTran Airways' chairman and CEO. "Over the next three years, this
transaction will reduce significantly our capital expenditures as well our
interest expense, de-leverage the company and enhance cash flow."
Under the terms of the purchase agreement restructuring, AirTran Airways will
relinquish certain delivery slots to Boeing in 2001 and 2002 to facilitate
forthcoming sales to new Boeing 717 customers. In the revised delivery schedule,
AirTran Airways would receive eight aircraft in 2000 (two aircraft received to
date), 12 in 2001, 12 in 2002 and 10 in 2003, for a total of 50 aircraft
(includes eight aircraft received in 1999). Previously, scheduled deliveries
were 16 in 2001 and 18 in 2002. AirTran Airways' B-717 options have been
rescheduled for the 2003-05 timeframe to provide a more even flow of aircraft
and greater fleet flexibility options.
"Together we have worked out a plan which will benefit both companies," said
John Feren, senior vice president - Americas, Boeing Commercial Airplanes Group.
"We look forward to our continued partnership with AirTran Airways, the launch
customer of the 717, and we're pleased that this aircraft has been so
successfully integrated into their fleet."
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Systemwide, AirTran Airways operates 280 daily departures to 30 cities. Offering
the convenience of easy, same concourse connections in Atlanta, AirTran Airways
operates 131 daily departures from Hartsfield Atlanta International Airport, the
world's busiest airport.
AirTran Airways provides everyday, affordable air travel throughout the eastern
United States, 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 commercial aircraft.
For more information and reservations, visit AirTran Airways' website at
www.airtran.com, call your travel agent or call AirTran Airways at 800-AIRTRAN
(800-247-8726) or 770-994-8258 (in Atlanta).
Note: Statements regarding the Company's enhanced cash flow, reduced capital
commitments, capital expenditures for the new 717 aircraft, reduced interest
expense, and reduction in company leverage are forward-looking statements and
are not historical facts. Instead, they are projections or estimates involving
numerous risks or uncertainties, including but not limited to, the ability to
obtain favorable financing, appraisals, market conditions for the disposition of
the aircraft and general economic conditions. 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 for the
year ended December 31, 1999. The Company disclaims any obligation or duty to
update or correct any of its forward-looking statements.
