AirTran's first-quarter operating revenues were $605.1 million, up 11.7 percent year-over-year. Its operating costs grew 21.8 percent to $602.1 million. Other expenses, including interest expense, totaled $15.1 million. AirTran ended the first quarter with $534 million in unrestricted cash.
AirTran expects to grow its flight capacity by 4 percent in the current quarter ending in June, compared with a year earlier. In the third and fourth quarters, it projects capacity will be 2 percent above year-earlier periods.
Amid reports of merger talks between United and Continental, Fornaro said he does not plan to initiate talks, but "our position at AirTran is if someone took a peek at AirTran.... our fiduciary responsibility is to take a look at it and make sure that we're looking out for our shareholders."