Airtran 2010 Annual Report Download - page 34

Risk Factors Related to Proposed Merger with Southwest
The Merger is subject to a number of conditions beyond our control. Failure to complete the Merger within the
expected time frame or at all could adversely affect our stock price and our future business and financial results.
The Merger is subject to a number of conditions beyond our control that may prevent, delay or otherwise materially
adversely affect its completion, including approval of our stockholders and the expiration or termination of applicable
waiting periods under U.S. antitrust laws and various approvals or consents that must be obtained from regulatory
authorities. We cannot predict whether and when these conditions will be satisfied. Any delay in completing the Merger
could cause the combined company not to realize some or all of the synergies expected to be achieved. We will also incur
certain transaction costs whether or not the Merger is completed. Any failure to complete the Merger could have a
material adverse effect on our stock price and our future business and financial results.
Uncertainty about the Merger, diversion of management attention or customer dissatisfaction with expected changes in
our services, policies and customer benefits could harm us, whether or not the Merger is completed, and if the Merger
is completed could harm the combined company.
The announcement of the Merger could result in current and prospective employees experiencing uncertainty about their
future with us or the combined company. These uncertainties may impair our ability to retain, recruit or motivate key
personnel. Certain anticipated services, policies or customer benefits to be offered by the combined company after the
merger may not be as attractive to certain of our customers as certain of our existing services, policies or customer
benefits, either before or after consideration of the expected benefits of the Merger for our customers generally. Negative
assessments by certain customers of the net benefits of the Merger to them individually and anticipation of the successful
completion of the Merger could cause such customers to utilize other air carriers in whole or partial substitution of travel
with us. Completion of the Merger will also require a significant amount of time and attention from our management. The
diversion of management’s attention away from ongoing operations could adversely affect our business relationships. If
the Merger is not consummated during the second quarter of 2011, as currently anticipated, the adverse effects of these
uncertainties and the diversion of management’s attention could be exacerbated by the delay. Even if the Merger is
consummated, integration of operations will require substantial time after consummation of the Merger, and the combined
company may lose management personnel and other key employees and be unable to attract and retain such personnel and
employees.
The anticipated benefits of the Merger may not be realized fully or at all or may take longer to realize than expected.
The Merger involves the integration of two companies that have previously operated independently. After the Merger, the
two companies will devote significant management attention and resources to integrating the two companies. Delays in
this process could adversely affect the combined company’s business, financial results, financial condition and stock
price. Even if we are able to integrate our business operations successfully, there can be no assurance that this integration
will result in the realization of the full benefits of synergies, cost savings, innovation and operational efficiencies that are
currently expected from this integration or that these benefits will be achieved within the anticipated time frame.
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