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AirTran Completes $354 Million Financing

AirTran Airways today reported that it has
completed a financing agreement with Royal Bank of Scotland for up to
$354 million to fund aircraft deposits and provide permanent financing for
Boeing 737-700’s deliveries in 2006 and 2007.Under the terms of the agreement AirTran received $51.9 million related to
deposits held by the aircraft manufacturer and will utilize the remainder of
the facility for future deposits and long term aircraft financing.
  “We are pleased to have the backing of the Royal Bank of Scotland in
financing our 737 deliveries,” said Stan Gadek, AirTran Airways’ senior vice
president of finance and chief financial officer.  “This facility will provide
additional liquidity and further strengthen our balance sheet.”