Impact of 9/11 Tragedy on Airline Industry
Previously weak industry revenues slow even faster
- Business and leisure segments both impacted
- Aggressive discounting by majors
- Industry expects large losses
-
AirTran one of few profitable airlines in 2001
AirTran responds by
- Focusing on liquidity
- Further squeezing of costs, which began in May
- Short-term labor agreements to preserve ability to grow
- Retirement of 3 DC9 aircraft in the fourth quarter