Airtran 2001 Annual Report Download - page 5

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Our business plan
remained on course
and proved itself.
Again.
[
It
is
difficult to know exactly the appropriate way to
feel-to
be the CEO of acompany that performed
so well
in
such unimaginable circumstances.
Henry Ford once called obstacles "those frightful things you see when you take your eyes off your
goal:' While that observation still has some truth
to
it, Ithink we've learned that sometimes obstacles are
those things you simply have to address before you can reach your goal. Clearly, the events of 2001, like
no other year
in
our industry's history, forced us
all
to deal with obstacles beyond our control and beyond
our imagination.
It
forced us
all
to look at most every1hing differently.
Yet,
Ican
tell
you that just
as
in
the
days before September
11,
we kept our eyes on our goals even
in
the aftermath. Everyone
in
our industry faced the challenges of this
uncharted territory
in
different ways. Each,
in
their
own
way,
achieved the remarkable simply by persevering and not folding. I
am very proud
to
be part
of
an industry that quietly set such an
admirable example of strength and determination. Iam even more
proud
to
be at the helm
of
an airline that not only persevered, but managed
to
be profitable, excluding
special items,
in
the face
of
these challenges.
What your company achieved
in
2001
could certainly be credited
to
the outstanding efforts of our
Crew Members, our growing fleet
of
new Boeing 717s, and our expanding system of very valuable
markets. But underlying
all
these essential elements is the
real
key to our success
in
2001-the
same
reason we were so successful
in
2000,
as
well
as
1999. We have abusiness plan so solid,
it
performs
even
in
the most unimaginably difficult environment.
It
is aplan designed and built
to
work well
in
good
times and bad. The past few years, and this last year
in
particular prove that beyond adoubt.
Our achievements would have been significantly more difficult were it not for the industry-leading
agreement the Company reached with the International Brotherhood of Teamsters and the National Pilots
Association allowing us to avoid involuntary furloughs following the events
of
September
11.
These
agreements are testament to the dedication
of
our people. It's also recognition by the people of AirTran
Airways that this is acompany with along and bright future. Also critical
to
our success
in
2001 and
beyond
is
the new four-year labor agreement reached with the National Pilots Association.
Another important milestone for your Company was becoming listed on the New York Stock
Exchange on August 15, 2001. This
is
apowerful reflection of the fact that this airline
is
taking its rightful
place
in
the American economy.
We achieved earnings of $21.7 million, excluding special items (see Management's Discussion and
Analysis
of
Financial Condition and Results
of
Operations), obtained on operating revenues of $665.2
million, up 6.6 percent from $624.1 million the previous
year.
Your Company ended the year with $130.0
million
in
cash, a 25.2 percent increase from $103.8 million ayear ago.
We
were able
to
maintain and,
in
fact, strengthen our very enviable pcsition as the second largest
airline at the world's busiest airport.
We
flew 4.5 billion revenue passenger miles
(RPMs)
in
2001, a
9.8 percent increase over the
4.1
billion RPMs flown
in
2000. We grew our capacity by 11.6 percent
or
6.5 billion available seat miles (ASMs), resulting
in
a68.9 percent load factor. More than 8.3 million
passengers flew with us
in
2001, up from 7.6 million
in
2000, anew company record.