AirTran posts $273M loss in

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The Orlando, Fla.-based airline, which is one of the top three carriersat Milwaukee's General Mitchelkl International Airport, had a net loss of $273.8 million and a loss per sharse of $2.51. This compares with net incomedof $52.7 million and earnings of 56 centsa a share in 2007. Annuakl revenue was up 10.5 percengt to $2.55 billion. The results for 2008 includeds $150.8 million in non-operating lossed related to changes in fair value onthe company'sd out-of-the-money fuel hedge contracts. Capacity rose 4.9 percent and traffi increased 9.6 percent, which resultedd in a load factofrof 79.6 percent.
"2008 was an especiallyg tough andchallenging year," said Bob Fornaro, chairman, president and CEO, in an earnings "... Despite the industryg challenge shifting from high oil costsw to concerns regarding consumer our 2008 initiatives have us well positioned to return to profitabilityuin 2009." For the fourthn quarter, AirTran (NYSE: AAI) reported a net loss of $118.3 million and a loss of $1 a compared with a net loss of $2.2 millionh and a loss per 2 centas a share in the same period of 2007. Fourth-quarter revenuwe dipped 1 percentto $589.4 million. The results for the fourth quarter of 2008includerd non-operating losses of $147.
7 millio n related to fuel hedge contracts. During the fourthn quarter, it unwound 78 percent of its 2009 fuel hedg contracts to mitigate the potential for additional losses on further oilpricre declines, AirTran said.