Fuel costs force airlines to change strategy
Tuesday, April 29th, 2008AirTran Holdings Inc. boasts a 22 percent annual growth rate over the last five years and has nearly tripled its size from 2002.
So if AirTran says it’s time to slow down, things must be getting serious. And with a barrel of oil approaching $120, AirTran is saying it’s time to slow down.
“It is clear to us that our previous decisions to invest in growth and to invest in new airplanes has proven to be too aggressive for an oil environment that very few could have imagined just six months ago,” AirTran treasurer Arne Haak told investment analysts last week.
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