ORLANDO, Fla., Dec. 18 /PRNewswire-FirstCall/ — AirTran Holdings, Inc. (NYSE:AAI) , the parent of AirTran Airways, which last week publicly disclosed its October 20, 2006, proposal to acquire all of the outstanding common stock of Midwest Air Group, Inc. (AMEX:MEH) for $11.25 per Midwest share in cash and AirTran stock or a total equity value of approximately $290 million and possibly more, today reiterated its plan to add more jobs and flights in the Milwaukee market should the merger be approved by Midwest shareholders.
More than a year ago, AirTran management presented its growth plan to Midwest which was summarily rejected by the airline’s management and Board of Directors without due consideration. AirTran made a second proposal this year, which was also rejected by the Midwest management and Board. Following the public disclosure of the AirTran proposal, Midwest has said that it believed the merger would result in a loss of jobs and flights in Milwaukee, an assumption that AirTran has challenged.
AirTran Airways has added more than 2,800 Crew Members, an increase of over 75 percent, from 2000 until 2005. During that same time period, according to its filings with the Securities and Exchange Commission, Midwest Airlines has disclosed that its employment has declined by over 500 employees, for a 13 percent reduction. In 2006 alone, AirTran has added over 700 new jobs.
“AirTran has 60 new Boeing aircraft on order, and we will need more Crew Members with each aircraft delivery. AirTran has the track record when it comes to adding jobs, and is poised to add over 3,000 jobs in the next five years,” stated Joe Leonard, AirTran Airways’ chairman and chief executive officer. “In the past five years, AirTran has opened a new reservation center, built a new maintenance technical operations center and hangar, opened a new flight operations training center and has inaugurated service to 28 new cities and 89 new routes. AirTran has 60 more firm deliveries of new Boeing 737 aircraft coming over the next three years. Midwest has two used MD-80 aircraft on order, if it can come to final contractual terms with the lessor of those aircraft. AirTran has both its history and the future firm aircraft orders to deliver on its pledge to add jobs in Milwaukee. Through our proposed merger we intend to create more jobs and more opportunities for career advancement while adding new nonstop flights and making Milwaukee a major hub for AirTran Airways,” stated Leonard.
AirTran Airways, a Fortune 1000 company and one of America’s largest low-fare airlines with 8,000 friendly, professional Crew Members, operates nearly 700 daily flights to 52 destinations. The airline’s hub is at Hartsfield-Jackson Atlanta International Airport, where it is the second largest carrier. AirTran Airways’ aircraft features the fuel-efficient Boeing 737-700 and 717-200 to create America’s youngest all-Boeing fleet. The airline is also the first carrier to install XM Satellite Radio on a commercial aircraft and the only airline with Business Class and XM Satellite Radio on every flight. For reservations or more information, visit http://www.airtran.com/ (America Online Keyword: AirTran).
