AirTran Completes New Financing
AirTran Airways today reported that it has recently
completed an aircraft pre-delivery deposit financing with BNP Paribas,
S.A., and separately entered into a new line of credit facility with Bank
of America, N.A. Under the pre-delivery deposit financing agreement, BNP Paribas provided
$19.6 million in pre-delivery deposit financing for six Boeing 737-700
aircraft to be delivered in 2005 and 2006.
The Bank of America facility consists of a new $40 million unsecured
revolving line of credit available for general corporate purposes, which
replaces the company’s existing $15 million letter of credit facility with
“We are pleased to have the support of these world-class financial
institutions as we improve our liquidity and balance sheet, while at the
same time providing us with additional financial flexibility,” said Stan
Gadek, AirTran Airways Chief Financial Officer.