Airtran 2007 Annual Report Download - page 27

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21
ITEM 1B. UNRESOLVED STAFF COMMENTS
None.
ITEM 2. PROPERTIES
Operating Aircraft Fleet
We operated the following owned and leased aircraft as of December 31, 2007:
Aircraft Type
Number of
Passenger Seats Owned Leased Total
Weighted-
Average
Age (Years)
B71
7
117 8 79 87 5.3
B73
7
137 28 22 50 1.9
Total 36 101 137 4.0
As of December 31, 2007, we had 63 B737 aircraft on order scheduled to be delivered in the year indicated:
Fir
m
Ai
r
craf
t
Deliveries
B737
2008 .............................................................................................................................................................
.
10
2009 .............................................................................................................................................................
.
14
2010 .............................................................................................................................................................
.
14
2011 .............................................................................................................................................................
.
13
2012 .............................................................................................................................................................
.
12
Total.............................................................................................................................................................
.
63
Of the 63 B737 aircraft on order, we have secured debt financing for nine B737 aircraft scheduled for delivery in 2008 through
arrangements with financial institutions. While our intention is to finance the remainder of the aircraft on order via a combination of
debt and lease financing, we have not yet arranged for such financing. Additionally, we have sale/leaseback commitments from an
aircraft leasing company with respect to four spare engines to be delivered through 2010. During 2006 and 2007, we entered into a
sale/leaseback agreement related to two spare engines.
There can be no assurance that sufficient financing will be available for all B737 aircraft deliveries or for other capital expenditures
not covered by firm financing commitments. Should fuel prices remain high and/or if we are unable to generate revenues to cover our
costs, we may slow our growth, including the sale, lease or sublease of certain numbers of our aircraft.
As of December 31, 2007, all of our owned aircraft were encumbered under debt agreements. For information concerning the
estimated useful lives, residual values, lease terms, operating rent expense and firm orders for additional aircraft, see Notes 1, 2, 5 and
6 to the Consolidated Financial Statements.