AirTran Holdings, Inc. Reports Record Net Income of $134.7 Million for 2009

- Low Cost Carrier Profitable all Four Quarters of 2009 - - Record Load Factor and Income for 2009 -


ORLANDO, Fla., Jan. 27  /PRNewswire-FirstCall/ -- AirTran Holdings, Inc., (NYSE:AAI), the parent company of AirTran Airways, Inc., today reported net income of $134.7 million or $0.95 per diluted share for the full-year 2009 and net income of $17.1 million or $0.11 per diluted share for the fourth quarter of 2009. These results represent an all-time record for annual net income with an improvement of over $400 million as compared to last year.  Operating income was $177.0 million and is also a record for the Company.

"Both our operating and financial numbers clearly illustrate the hard work and dedication of each of our 8,500 Crew Members," said Bob Fornaro, AirTran Airways' chairman, president and chief executive officer. "Posting these results during one of the most trying economic times in decades also shows that customers are very attracted to our unique combination of high-quality, low-cost service."

Excluding $7.1 million of unrealized gains on the Company's future fuel hedge portfolio recorded during the quarter, the economic net income for the fourth quarter was $10.1 million or $0.07 per diluted share. In addition, the annual net income results include $34.7 million of unrealized gains on the Company's future fuel hedge portfolio, $3 million of gains on asset dispositions, and $3.3 million of gains on extinguishment of debt, net of tax. Excluding these items, the economic net income for 2009 was $93.6 million or $0.67 per diluted share.

Network Diversification:

The Company continued to diversify its coast-to-coast network and has increased its traffic to record levels in the Milwaukee and Orlando markets. AirTran Airways now offers flights to more cities from Orlando than any other airline and serves 18 of the top 20 markets from Milwaukee. This continued network diversification has paved the way for successful expansion into the Caribbean from Atlanta, Baltimore, and Orlando.

"Further diversifying our network strengthens our Company and allows us to maximize revenue opportunities," said Kevin Healy, AirTran Airways' senior vice president, marketing and planning. "Expanding our presence in key markets like Baltimore, Milwaukee, and Orlando has been very successful and has allowed us to bring more of our award-winning service to these markets and surrounding communities.  We have established a strong platform for future growth."

  Network diversification highlights for 2009 and to date include:
  --  Added service to the Caribbean with the following new destinations:
      Cancun, Mexico; Montego Bay, Jamaica; Nassau, Bahamas and Aruba.
  --  Initiated domestic service to seven new cities: Allentown, Pa.;
      Asheville, N.C.; Atlantic City, N.J.; Branson, Mo.; Charleston, W.Va.;
      Key West, Fla.; and Knoxville, Tenn.
  --  Added over 30 new routes, including nine from Atlanta, eight from
      Milwaukee, five from Baltimore, and 12 from AirTran's hometown of
      Orlando bringing the total number of destinations served nonstop from
      Orlando to 43.
  --  Announced new domestic service to Lexington, Ky.; Des Moines, Iowa;
      and Omaha, Neb. to begin in 2010.
  --  Established a marketing partnership with SkyWest Airlines to support
      AirTran's Milwaukee hub.

  Cost and Financial Performance



In 2009, AirTran Airways continued to lead the industry with the lowest non-fuel operating cost per mile among major airlines on a stage-length adjusted basis. AirTran has been able to maintain this advantage by operating North America's newest all-Boeing fleet, high asset utilization, and driving efficiencies from all levels of the operation.

"Maintaining our cost advantage is critical to the sustained success of AirTran Airways," said Arne Haak, AirTran Airways' senior vice president of finance, treasurer and chief financial officer. "Our cost structure is fundamental to the value we provide our customers in quality service and affordable fares.  We remain focused on managing costs, improving our balance sheet and positioning ourselves to compete successfully in a difficult marketplace."

During 2009, AirTran Airways significantly strengthened its liquidity and cash position through a number of transactions including extending and enhancing a $175 million credit facility and completing over $165 million in equity and debt financing.

  Cost and financial performance highlights for 2009 to date include:
  --  Annual non-fuel cost per available seat mile (CASM), adjusted of 6.39
      cents - lowest among major airlines when adjusted for stage length.
  --  Full-time equivalent (FTE) positions per aircraft were 56.8 at
      year-end.
  --  Ended the year with $543 million in unrestricted cash.
  --  Received improvements in credit rating and outlook from major credit
      rating agencies.
  --  Annual fuel expense decreased $516 million compared to 2008.
  --  Hedged 40 percent of 2010 fuel requirements with benefits beginning at
      $60 per barrel.

  Other AirTran Airways Highlights:


Other highlights of AirTran Airways' accomplishments in 2009 and to date include:

  --  Awarded the prestigious Market Leadership Award from the leading
      industry publication, Air Transport World, for AirTran's innovative
      combination of low-cost, high-quality service and response to the
      global financial crisis.
  --  Ranked #1 among all low-cost carriers for the second consecutive year
      in the Airline Quality Rating (http://www.aqr.aero/). This is the fifth
      consecutive year AirTran Airways ranked third or higher for quality
      among all U.S. carriers in this prestigious rating.
  --  Successfully ratified collective bargaining agreement with Teamsters
      Local 528 which represents mechanics and related Crew Members.
  --  Completed installation of Gogo Inflight Internet on all 138 AirTran
      Airways aircraft, becoming the first and only major airline to be 100
      percent Wi-Fi equipped.
  --  Launched special livery aircraft in partnership with the Atlanta
      Falcons, Baltimore Ravens, Indianapolis Colts and Orlando Magic.
  --  Entered into a multi-year partnership with the Orlando Magic to become
      "Champions of the Community" sponsors while signing all-star center
      Dwight Howard.
  --  Partnered with the Milwaukee Brewers to establish the AirTran Airways
      Landing Zone at Miller Park and by signing Milwaukee Brewers slugger
      Ryan Braun.
  --  Signed Baltimore Ravens tackle and inspiration for the box office hit
      The Blind Side, Michael Oher, to a multi-year endorsement deal.
  --  Signed multi-year agreement to be a Presenting Sponsor of Marquette
      University Athletics and a Premier Corporate Partner of Marquette
      University.



AirTran Holdings, Inc. will conduct a conference call to discuss the year-end and quarter's results today at 9:30 a.m. Eastern Standard Time. A live broadcast of the conference call will be available via the Internet in the investor relations section at http://www.airtran.com/.

AirTran Airways, a subsidiary of AirTran Holdings, Inc. (NYSE:AAI) and a Fortune 1000 company, has been ranked the number one low cost carrier in the Airline Quality Rating study for the past two years.  AirTran is the only major airline with Gogo Inflight Internet on every flight and offers coast-to-coast service on North America's newest all-Boeing fleet. Its low-cost, high-quality product also includes assigned seating, Business Class and complimentary XM Satellite Radio on every flight. To book a flight, visit http://www.airtran.com/.

Editor's note: Statements regarding the Company's operational and financial success, business model, expectation about future success, improved operational performance and our ability to maintain or improve our low costs are forward-looking statements and are not historical facts. Instead, they are estimates or projections involving numerous risks or uncertainties, including but not limited to, consumer demand and acceptance of services offered by the Company, the Company's ability to maintain current cost levels, fare levels and actions by competitors, regulatory matters 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 annual report on Form 10-K for the year ended December 31, 2008. The Company disclaims any obligation or duty to update or correct any of its forward-looking statements.

  AirTran Airways:
  Christopher White (Media)
  678-254-7442

  Jason Bewley (Investor Relations)
  407-318-5188




                            AirTran Holdings, Inc.
                   Consolidated Statements of Operations
       (In thousands, except per share data and statistical summary)
                                 (Unaudited)


                            Three Months Ended
                               December 31,                  Percent
                           2009             2008              Change
                           ----             ----              ------
  Operating Revenues:
    Passenger           $536,458         $553,230               (3.0)
    Other                 61,974           36,185               71.3
                          ------           ------
      Total
       operating
       revenues          598,432          589,415                1.5

  Operating Expenses:
    Aircraft fuel        195,827          194,487                0.7
    Salaries, wages 
     and benefits        124,739          112,420               11.0
    Aircraft rent         60,615           60,440                0.3
     Maintenance,
     materials
     and repairs          52,968           38,555               37.4
    Distribution          24,148           23,319                3.6
    Landing fees and
     other rents          36,034           32,748               10.0
    Aircraft insurance
     and security
     services              5,289            5,246                0.8
    Marketing and
     advertising           7,150            9,361              (23.6)
    Depreciation          14,751           15,491               (4.8)
    (Gain) loss on
     asset dispositions      109           (4,218)                 -
    Other operating       50,698           48,147                5.3
                          ------           ------
      Total
       operating
       expenses          572,328          535,996                6.8
                         -------          -------
  Operating Income        26,104           53,419              (51.1)

  Other (Income) Expense:
    Interest income         (490)           1,693                  -
    Interest expense      22,899           22,144                3.4
     Capitalized 
      interest              (448)            (679)             (34.0)
    Net (gains) losses 
     on derivative
     financial
     instruments         (12,680)         147,686                  -
                         -------          -------
  Other (income)
   expense, net            9,281          170,844              (94.6)
                           -----          -------
  Income (Loss)
   Before Income
   Taxes                  16,823         (117,425)                 -

  Income Tax
   Expense (Benefit)        (268)           4,169                  -

  Net Income (Loss)      $17,091        $(121,594)                 -
                         =======        =========

  Income (Loss) per
   Common Share
    Basic                  $0.13           $(1.03)                 -
    Diluted                $0.11           $(1.03)                 -

  Weighted-average
   Shares Outstanding
    Basic                133,909          118,034               13.4
    Diluted              168,602          118,034               42.8

    Operating margin         4.4  percent     9.1  percent      (4.7) pts.
    Net margin               2.9  percent   (20.6) percent      23.5  pts.
    Net margin, adjusted*    1.7  percent   (21.7) percent      23.4  pts.

  Fourth Quarter
   Statistical Summary:
    Revenue
     passengers        5,911,553        5,754,446                2.7
    Revenue passenger
     miles (000s)      4,511,080        4,218,819                6.9
    Available seat
     miles (000s)      5,795,856        5,359,177                8.1
    Passenger load
     factor                 77.8  percent    78.7   percent     (0.9) pts.
    Departures            63,118           61,142                3.2
    Average stage
     length (miles)          733              700                4.7
    Average fare          $90.75           $96.14               (5.6)
    Average yield
     per RPM               11.89  cents     13.11  cents        (9.3)
    Passenger revenue
     per ASM                9.26  cents     10.32  cents       (10.3)
    Total revenue
     per ASM               10.33  cents     11.00  cents        (6.1)
    Operating cost 
     per ASM                9.87  cents     10.00  cents        (1.3)
    Operating cost 
     per ASM, adjusted*     9.87  cents     10.08  cents        (2.1)
    Non-fuel operating
     cost per ASM           6.50  cents      6.37  cents         2.0
    Non-fuel operating
     cost per ASM, 
     adjusted*              6.49  cents      6.45  cents         0.6
    Average cost of
     aircraft fuel 
     per gallon            $2.15            $2.32               (7.3)
    Average economic
     cost of aircraft
     fuel per gallon       $2.09            $4.10              (49.0)
    Gallons of fuel
     burned (000s)        90,951           84,000                8.3
    Operating aircraft
     in fleet at 
     end of period           138              136                1.5
    Average daily
     aircraft
     utilization
     (hours)                10.8             10.4                3.8
    Full-time
     equivalent
     employees
     at end of period      7,844            7,489                4.7


  * Statistical calculations for 2009 and 2008, on an adjusted basis, 
    exclude gains and losses as detailed in the attached Reconciliation of 
    GAAP Financial Information to Non-GAAP Financial Information.  During 
    the fourth quarter of 2009, we recorded a $2.4 million reduction in 
    advertising expense to correct overstatements of Airtran is sending in 
    addl graphs for their earns advertising expense recognized in prior 
    periods. Our fourth quarter 2008 financial data has   been restated to 
    reflect the required retrospective application of our 
    adoption of Accounting Standards Codification (ASC) 470-20, "Debt with 
    Conversion and Other Options -Cash Conversion."  The restatement 
    resulted in a $1.4 million decrease and $3.2 million increase to 
    operating income and net loss, respectively, for the three months ended 
    December 31, 2008.





                           Twelve Months Ended
                                December 31,                 Percent
                           2009             2008              Change
                           ----             ----              ------
  Operating
   Revenues:
    Passenger         $2,088,965       $2,413,609              (13.5)
    Other                252,477          138,869               81.8
                         -------          -------
      Total
       operating
       revenues        2,341,442        2,552,478               (8.3)

  Operating Expenses:
    Aircraft fuel        678,835        1,194,938              (43.2)
    Salaries, wages 
     and benefits        488,366          474,889                2.8
    Aircraft rent        242,236          242,674               (0.2)
     Maintenance,
     materials
     and repairs         198,852          163,350               21.7
    Distribution          94,688          100,400               (5.7)
    Landing fees 
     and other rents     144,756          137,738                5.1
    Aircraft insurance
     and security
     services             21,045           21,556               (2.4)
    Marketing
     and advertising      38,097           40,475               (5.9)
    Depreciation          56,871           59,049               (3.7)
    Gain on asset
     dispositions         (2,964)         (20,015)             (85.2)
    Impairment
     of goodwill               -            8,350                  -
    Other operating      203,650          204,895               (0.6)
                         -------          -------
      Total
       operating
       expenses        2,164,432        2,628,299              (17.6)
                       ---------        ---------
  Operating
   Income (Loss)         177,010          (75,821)                 -

  Other (Income) Expense:
    Interest income       (5,702)          (3,679)              55.0
    Interest expense      83,967           85,479               (1.8)
     Capitalized
     interest             (1,692)          (7,707)             (78.0)
    Gain on
     extinguishment
     of debt              (4,278)               -                  -
    Net (gains)
     losses on
     derivative
     financial
     instruments         (30,624)         150,836                  -
                         -------          -------
  Other (income)
   expense, net           41,671          224,929              (81.5)
                          ------          -------
  Income (Loss)
   Before Income
   Taxes                 135,339         (300,750)                 -

  Income Tax
   Expense (Benefit)         677          (34,416)                 -

  Net Income (Loss)     $134,662        $(266,334)                 -
                        ========        =========

  Income (Loss) per
   Common Share
    Basic                  $1.09           $(2.44)                -
    Diluted                $0.95           $(2.44)                -

  Weighted-average 
   Shares Outstanding
    Basic                123,624          109,153               13.3
    Diluted              146,891          109,153               34.6

    Operating margin         7.6  percent    (3.0)  percent     10.6  pts.
    Net margin               5.8  percent   (10.4)  percent     16.2  pts.
    Net margin,
     adjusted*               4.0  percent    (9.9)  percent     13.9  pts.

  Twelve Month
   Statistical Summary:
    Revenue
     passengers       23,997,810       24,619,120               (2.5)
    Revenue
     passenger
     miles (000s)     18,588,036       18,955,843               (1.9)
    Available seat
     miles (000s)     23,294,117       23,809,190               (2.2)
    Passenger load
     factor                 79.8  percent    79.6   percent      0.2  pts.
    Departures           251,694          260,120               (3.2)
    Average stage
     length (miles)          738              728                1.4
    Average fare          $87.05           $98.04              (11.2)
    Average yield 
     per RPM               11.24  cents     12.73  cents       (11.7)
    Passenger
     revenue
     per ASM                8.97  cents     10.14  cents       (11.5)
    Total revenue
     per ASM               10.05  cents     10.72  cents        (6.3)
    Operating cost 
     per ASM                9.29  cents     11.04  cents       (15.9)
    Operating cost 
     per ASM, adjusted*     9.30  cents     11.09  cents       (16.1)
    Non-fuel operating
     cost per ASM           6.38  cents      6.02  cents         6.0
    Non-fuel operating
     cost per ASM,
     adjusted*              6.39  cents      6.07  cents         5.3
    Average cost of
     aircraft fuel 
     per gallon            $1.87            $3.25              (42.5)
    Average economic
     cost of aircraft
     fuel per gallon       $1.88            $3.60              (47.8)
    Gallons of fuel 
     burned (000s)       363,215          367,169               (1.1)
    Operating aircraft
     in fleet at 
     end of period           138              136                1.5
    Average daily
     aircraft
     utilization
     (hours)                11.0             11.0                  -
    Full-time
     equivalent
     employees
     at end of
     period                7,844            7,489                4.7

  * Statistical calculations for 2009 and 2008, on an adjusted basis, 
    exclude gains and losses as detailed in the attached Reconciliation of 
    GAAP Financial Information to Non-GAAP Financial Information.  During 
    the fourth quarter of 2009, we recorded a $2.4 million reduction in 
    advertising expense to correct overstatements of advertising expense 
    recognized in prior periods. Our 2008 financial data has been restated
    to reflect the required retrospective application of our adoption of 
    Accounting Standards Codification (ASC) 470-20, "Debt with Conversion 
    and Other Options - Cash Conversion."  The restatement resulted in a 
    $3.8 million increase and $7.5 million decrease to operating loss and 
    net loss, respectively, for the twelve months ended December 31, 2008.






Reconciliation of GAAP Financial Information to Non-GAAP Financial Information

Three and Twelve Months Ended December 31, 2009 and 2008

We prepare our financial statements in accordance with generally accepted accounting principles (GAAP). Within our press release, we make reference to certain non-GAAP financial measures including economic net income and adjusted net margin. Our disclosures may also exclude special or non-recurring items that we believe should be taken into consideration to more accurately measure and monitor our operating performance.  Our disclosure of non-fuel operating cost per available seat mile (non-fuel CASM) is consistent with financial measures reported by other airlines and analysts. We believe that non-fuel CASM and non-fuel CASM adjusted provide a useful understanding of our operations. Both the cost and availability of fuel are subject to many economic and political factors and are therefore beyond our control.  Our press release also contains information regarding the components of GAAP fuel expense and net gains and losses on derivative financial instruments.  These amounts have been included as supplemental information.

We disclose both the average fuel cost per gallon and the average economic fuel cost per gallon. Average fuel cost per gallon is based on fuel expense as measured by GAAP and includes realized gains and losses on fuel related derivatives instruments which are accounted for as hedges. Average economic fuel cost per gallon includes realized gains and losses on all fuel related derivative instruments, including those which were not accounted for as hedges, but does not include unrealized gains and losses recognized under GAAP.

We consider our fuel derivative contracts an important tool in managing costs related to jet fuel purchases.  We believe it is important to assess our financial performances by including the effect of the net cash settlements and excluding the mark-to-market adjustments for our unrealized gains and losses recorded in the income statement for contracts settling in future periods.

We believe that these measures represent important internal measures of performance. Accordingly, where these non-GAAP measures are provided, it is done so that investors have the same financial data that management uses in evaluating performance with the belief that it will assist the investment community in assessing our underlying performance on a year-over-year and a quarter-over-quarter basis. However, because these measures are not determined in accordance with accounting principles generally accepted in the United States, such measures are susceptible to varying calculations and not all companies calculate the measures in the same manner. As a result, the aforementioned measures as presented may not be directly comparable to similarly titled measures presented by other companies. The non-GAAP measures are presented as supplemental information and not as alternatives to any GAAP measurements.

                                               Three months ended
                                                   December 31,
                                                   ------------
  Dollars in thousands, unless           2009                2008
   otherwise noted                         ----                ----

  The following table calculates
   net margin, adjusted:
    Net income (loss)                      $17,091           $(121,594)
       (Gain) loss on extinguishment
         of debt, net of taxes                   -                   -
       Unrealized (gains) losses on
        derivative financial
        instruments, net of taxes           (7,082)             (2,010)
       Impairment of goodwill                    -                   -
       (Gain) loss on asset
        dispositions, net of taxes             109              (4,218)
                                               ---              ------
    Net income (loss), adjusted            $10,118           $(127,822)
                                           =======           =========
    Total operating revenues              $598,432            $589,415
                                          --------            --------
       Net margin, adjusted                    1.7%              (21.7%)
                                               ===               =====

  The following table calculates
   operating cost per ASM,
   adjusted:
    Total operating expenses              $572,328            $535,996
       Impairment of goodwill                    -                   -
       Gain (loss) on asset
        dispositions                          (109)              4,218
                                              ----               -----
    Operating expenses, adjusted          $572,219            $540,214
                                          ========            ========
    ASMs (000)                           5,795,856           5,359,177
                                         ---------           ---------
       Operating cost 
        per ASM (cents), adjusted             9.87               10.08
                                              ====               =====

  The following table calculates
   non-fuel operating cost per ASM
   and non-fuel operating cost per
   ASM, adjusted:
    Total operating expenses              $572,328            $535,996

       Aircraft fuel                      (195,827)           (194,487)
                                          --------            --------
    Non-fuel operating cost               $376,501            $341,509
                                          ========            ========
    ASMs (000)                           5,795,856           5,359,177
       Non-fuel operating cost 
        per ASM (cents)                       6.50                6.37
                                              ====                ====

    Total operating expenses              $572,328            $535,996

       Aircraft fuel                      (195,827)           (194,487)
       Impairment of goodwill                    -                   -
       Gain (loss) on asset
        dispositions, net of taxes            (109)              4,218
                                              ----               -----
    Non-fuel operating cost,
     adjusted                             $376,392            $345,727
                                          ========            ========
    ASMs (000)                           5,795,856           5,359,177
       Non-fuel operating cost 
        per ASM (cents) adjusted              6.49                6.45
                                              ====                ====

  The following table provides
   detail of certain components of
   aircraft fuel expense and
   calculates average economic cost
   of aircraft fuel per gallon:
    Aircraft fuel expense                 $195,827            $194,487
       Realized (gains) losses on
        derivatives that do not qualify
        for hedge accounting,  recorded
        in net (gains) losses on
        derivative financial instruments    (5,596)             40,327
       Realized (gains) losses on
        derivatives related to 2009
        contracts terminated, recorded
        in net (gains) losses on
        derivatives financial
        instruments                              -             109,370
                                               ---             -------
    Economic fuel expense                 $190,231            $344,184
                                          ========            ========
    Gallons of fuel burned                  90,951              84,000
                                            ------              ------
       Economic cost of aircraft fuel
        per gallon (dollars)                 $2.09               $4.10
                                             =====               =====

  The following table calculates
   diluted earnings (loss) per share,
   adjusted for the three and twelve months
   ended December 31, 2009 and 2008:
    Net income (loss)                      $17,091           $(121,594)
       (Gain) loss on 
        extinguishment of debt, net
        of taxes                                 -                   -
       Unrealized (gains) losses on
        derivative financial
        instruments, net of taxes           (7,082)             (2,010)
       Impairment of goodwill                    -                   -
       (Gain) loss on asset dispositions,
         net of taxes                          109              (4,218)
                                               ---              ------
    Net income (loss), adjusted            $10,118           $(127,822)
                                           =======            ========
       Plus income effect of assumed
        interest on convertible debt           956                   -
                                               ---                 ---
    Income (loss) after assumed conversion,
     diluted                               $11,074            $(18,452)
                                           =======            ========
       Adjusted weighted-average 
        shares outstanding, diluted        152,402            127,822
                                           -------             -------
       Diluted earnings (loss)per share
        (dollars), adjusted                  $0.07              $(1.08)
                                             =====              ======


                                              Twelve months ended
                                                  December 31,
  Dollars in thousands, unless          2009                2008
   otherwise noted                         ----                ----
  The following table calculates
   net margin, adjusted:
    Net income (loss)                     $134,662           $(266,334)
       (Gain) loss on debt
        extinguishment, net of taxes        (3,333)                  -
       Unrealized (gains) losses on
        derivative financial
        instruments, net of taxes          (34,746)             24,531
       Impairment of goodwill                   -                8,350
       (Gain) loss on asset
        dispositions, net of taxes          (2,964)            (20,015)
                                            ------             -------
    Net income (loss), adjusted            $93,619           $(253,468)
                                           =======           =========
    Total operating revenues            $2,341,442          $2,552,478
                                        ----------          ----------
       Net margin, adjusted                    4.0%               (9.9%)
                                               ===                ====

  The following table calculates
   operating cost per ASM, adjusted:
    Total operating expenses            $2,164,432          $2,628,299
       Impairment of goodwill                    -              (8,350)
       Gain (loss) on asset
        dispositions                         2,964              20,015
                                             -----              ------
    Operating expenses, adjusted        $2,167,396          $2,639,964
                                        ==========          ==========
    ASMs (000)                          23,294,117          23,809,190
                                        ----------          ----------
       Operating cost 
        per ASM (cents), adjusted             9.30               11.09
                                              ====               =====

  The following table calculates
   non-fuel operating cost per
   ASM and non-fuel operating
   cost per ASM, adjusted:
    Total operating expenses            $2,164,432          $2,628,299

       Aircraft fuel                      (678,835)         (1,194,938)
                                          --------          ----------
    Non-fuel operating cost             $1,485,597          $1,433,361
                                        ==========          ==========
    ASMs (000)                          23,294,117          23,809,190
       Non-fuel operating cost 
        per ASM (cents)                       6.38                6.02
                                              ====                ====

    Total operating expenses            $2,164,432          $2,628,299

       Aircraft fuel                      (678,835)         (1,194,938)
       Impairment of goodwill                    -              (8,350)
       Gain (loss) on asset
        dispositions, net of taxes           2,964              20,015
                                             -----              ------
    Non-fuel operating cost,
     adjusted                           $1,488,561          $1,445,026
                                        ==========          ==========
    ASMs (000)                          23,294,117          23,809,190
       Non-fuel operating cost 
        per ASM (cents) adjusted              6.39                6.07
                                              ====                ====

  The following table provides
   detail of certain components
   of aircraft fuel expense and
   calculates average economic
   cost of aircraft fuel per
   gallon:
    Aircraft fuel expense                 $678,835          $1,194,938
       Realized (gains) losses on
        derivatives that do not
        qualify for hedge accounting
        recorded in net (gains) losses
        on derivative financial
        instruments                          4,122              16,936
       Realized (gains) losses on
        derivatives related to 2009
        contracts terminated,
        recorded in net (gains) losses
        on derivatives financial
        instruments                              -             109,370
                                               ---             -------
    Economic fuel expense                 $682,957          $1,321,244
                                          ========          ==========
    Gallons of fuel burned                 363,215             367,169
                                           -------             -------
       Economic cost of aircraft fuel
        per gallon (dollars)                 $1.88               $3.60
                                             =====               =====

  The following table calculates
   diluted earnings (loss) per share,
   adjusted for the three and twelve months
   ended December 31, 2009 and 2008:
    Net income (loss)                     $134,662           $(266,334)
       (Gain) loss on 
        extinguishment of debt, net
        of taxes                            (3,333)                  -
       Unrealized (gains) losses on
        derivative financial
        instruments, net of taxes          (34,746)             24,531
       Impairment of goodwill                    -               8,350
       (Gain) loss on asset dispositions,
         net of taxes                       (2,964)            (20,015)
                                           ------             -------
    Net income (loss), adjusted            $93,619           $(253,468)
                                           =======           =========
       Plus income effect of assumed
        interest on convertible debt         5,121                   -
                                             -----                 ---
    Income (loss) after assumed
     conversion, diluted                   $98,740           $(253,468)
                                           =======           =========
       Adjusted weighted-average 
        shares outstanding, diluted        146,891             109,153
                                           -------             -------
       Diluted earnings (loss) per share
        (dollars), adjusted                  $0.67              $(2.32)
                                             =====              ======







                  COMPANY ESTIMATES/FORWARD LOOKING STATEMENTS



  The following table contains our year-over-year capacity projection 
  for 2010:

     Period                                        Forecasted ASMs
     ------                                        ---------------
     Q1 2010                                 Up approximately 7% - 8%
     Q2 2010                                Up approximately 4% - 4-1/2%
     Q3 2010                                    Up approximately 2%
     Q4 2010                                    Up approximately 2%
      2010                                     Up approximately 3%-4%




  The following table contains our year-over-year projections for Q1
   2010 total unit revenues, non-fuel operating unit costs, and average
  cost per gallon of fuel, all in and 2010 non-fuel operating costs:

                                                    Projection
                                                    ----------
  Total unit revenue per ASM in Q1             Down 2-1/2% to 3-1/2%
  Non-fuel unit operating cost per ASM in Q1      Up 2-1/2% to 3%
  Non-fuel unit operating cost per ASM 2010         Up 3% to 4%
  Average cost per gallon of fuel, all-in Q1       $2.25 to $2.30





  The following table contains our percentage of fuel hedged for 2010:

                                                 % of Fuel Hedged
                                                 ----------------
  Q1 2010                                               46%
  Q2 2010                                               40%
  Q3 2010                                               37%
  Q4 2010                                               39%
  2010                                                  40%


DATASOURCE: AirTran Holdings, Inc.



CONTACT:  Media, Christopher White, [phone], or Investor

Relations, Jason Bewley, [phone], both of AirTran Airways



Web Site:  http://www.airtran.com/ 

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