luv industry airlines defunct may 2 2011 acquired by southwest airlines headquarters orlando florida usa key people robert l. fornaro ceo chairman & president services air transportation revenue us 2.619 billion fy 2011 1 operating income us 128.2 million fy 2011 1 net income us 38.54 million fy 2011 1 total assets us 2.179 billion fy 2011 1 total equity us 539.3 million fy 2011 1 number of employees 8 330 dec 2010 1 subsidiaries list of former subsidiaries website airtran.com airtran holdings nyse aai was a nevada corporation based in orlando florida united states that operated as an airline holding company . its primary asset was airtran airways until southwest airlines acquired airtran on may 2 2011 . 2 contents 1 history 1.1 proposed airtran holding acquisition of midwest air group 1.2 acquisition by southwest airlines 2 former subsidiaries 3 references 4 external links history edit after the large amount of negative publicity surrounding the flight 592 disaster valujet airlines suffered serious financial problems . on july 10 1997 valujet announced it would merge with the much smaller airways corporation 3 the owner of orlando florida based airtran airways . in november 1997 airtran announced it would move its headquarters to airways existing headquarters in orlando from atlanta ; 4 on november 17 1997 airways corp. and valujet completed their merger and the name valujet was dropped . 5 on january 11 1999 joseph leonard was elected as the chairman president and chief executive officer of the company . 6 on august 15 2001 airtran stock began trading on the new york stock exchange . 7 proposed airtran holding acquisition of midwest air group edit in december 2006 airtran holdings made public that in december 2005 it had approached the board of directors of midwest air group owner of midwest airlines and skyway airlines which operates as midwest connect and had asked the board negotiate a sale of the company . that airtran offer in 2005 was rebuffed by midwest s board which also rebuffed a second offer in late 2006 . in december 2006 airtran disclosed the rejection of both offers in hopes of bringing shareholder pressure on midwest s board to reconsider which the board recommended that shareholders reject . 8 9 on december 13 2006 airtran announced that it had made an offer to acquire midwest airlines another operator of the boeing 717 . the offer has since been rejected by the midwest board . on january 11 2007 airtran sweetened its offer for midwest to 13.25 a share from 11.25 a share valued at us 290 million 10 or a 24 % premium over midwest s trading price at the time and airtran took its renewed bid directly to midwest shareholders bypassing midwest s board of directors ; with an offer that expires on april 11 2007 . on april 2 2007 airtran raised its bid to 15 a share 11 in what ceo joe leonard called airtran s final bid . 12 in response to airtran s overtures midwest air group has stated publicly that it believes that it can maximize shareholder value as a stand alone company . midwest air group has said that the latest airtran proposal rejected by its board of directors significantly undervalued midwest and did not reflect the long term opportunity inherent in its strategic growth plan . the company also has reiterated that its strategic business plan will offer superior value to shareholders by capitalizing on current industry conditions while remaining true to midwest s commitment to customer service excellence . on january 11 2007 airtran holdings increased its bid for midwest to 345 million in cash and stock an 18 % increase from their previous offer . 10 13 on april 2 2007 airtran again raised its bid for midwest to 389 million in cash and stock 9 in cash and .5842 shares of airtran stock totaling 15 a share . 11 ceo joe leonard stated that this would be airtran s final bid . 12 in may 2007 an independent securities expert william mcginnis cfa published an analysis of board of director responsibilities related to hostile takeover offers . he utilized the airtran offers for midwest airlines as the basis for this case study which is available here . airtran was successful in having its slate of 3 board members elected to the midwest air group s board of directors in the election on june 14 2007 at the midwest annual meeting . 14 on august 12 2007 it was announced that airtran had lost the bid for midwest . a private equity group headed by tpg capital and including northwest airlines had purchased midwest and will turn the airline into a privately funded company . 15 on august 14 2007 it was announced that airtran had renewed their bid for midwest at a price slightly above that of the tpg capital offer in theory at the request of midwest shareholders . pequot capital management which owns 8.8 % of midwest had been unhappy with the tpg capital offer as they felt that airtran s cash and stock offer would result in greater gains because they felt airtran s stock would rise in value once the acquisition of midwest was completed . an executive at another unnamed investment group also expressed similar misgivings about the tpg capital offer . tpg capital s offer had been 16 share in cash where airtran s latest offer is 10 cash plus 0.6056 share of airtran stock for each share of midwest 16 which at the close of trading on august 13 made the value of airtran s new offer approximately 16.25 share in cash and stock . 17 however midwest announced tpg would increase its offer to 17 per share and a definitive agreement had been reached on august 16 2007 . 18 acquisition by southwest airlines edit on september 27 2010 southwest airlines announced it would acquire airtran holdings along with its subsidiary airtran airways . 19 the companies will operate separately for a period of time until the absorption of the owned and leased aircraft within airtran s fleet is complete . on may 2 2011 airtran holdings was purchased by southwest airlines . 20 21 as a result airtran airways became a fully owned subsidiary of southwest airlines . former subsidiaries edit airtran airways galena corp the servicing support company of the airline that was created on march 24 1999 . references edit a b c d e f airtran holdings form 10 k annual report filing date feb 4 2011 pdf . secdatabase.com . retrieved jan 1 2013 . airtran holdings form 8 k current report filing date may 2 2011 pdf . secdatabase.com . retrieved jan 1 2013 . airtran holdings form 8 k current report filing date jul 14 1997 . secdatabase.com . retrieved jan 1 2013 . airtran holdings form s 4 a filing date dec 5 1997 . secdatabase.com . retrieved jan 1 2013 . airtran holdings form 10 q quarterly report filing date nov 5 1997 . secdatabase.com . retrieved jan 1 2013 . airtran holdings form 8 k current report filing date jan 21 1999 . secdatabase.com . retrieved jan 1 2013 . airtran holdings form 8 k current report filing date oct 31 2001 pdf . secdatabase.com . retrieved jan 1 2013 . airtran holdings form 8 k current report filing date dec 13 2006 pdf . secdatabase.com . retrieved jan 1 2013 . midwest board to shareholders reject airtran s offer . associated press . 2007 01 25 . a b airtran holdings form s 4 filing date jan 11 2007 pdf . secdatabase.com . retrieved jan 1 2013 . a b southwest airlines form 425 filing date apr 2 2007 . secdatabase.com . retrieved jan 1 2013 . a b http biz.yahoo.com ap 070402 midwest airtran.html . v 8 airtran boosts offer for midwest air . abc news . january 11 2007 . independent inspectors preliminary results report approximately 65 percent of shares voted for airtran s slate of directors at midwest annual meeting press release . airtran airways . 2007 06 20 . retrieved 2007 07 19 . midwest to go private airtran spurned ; investors including northwest make 16 a share bid . milwaukee journal sentinel . august 12 2007 . airtran holdings form 425 filing date aug 15 2007 . secdatabase.com . retrieved jan 1 2013 . airtran circles back ceo says midwest shareholders asked for sweetened bid . milwaukee journal sentinel august 14 2007 midwest announces agreement with tpg . milwaukee journal sentinel . 2007 06 17 . archived from the original on 29 september 2007 . retrieved 2007 08 17 . southwest airlines form 425 filing date sep 27 2010 pdf . secdatabase.com . retrieved jan 1 2013 . southwest airlines form 8 k current report filing date may 3 2011 pdf . secdatabase.com . retrieved jan 1 2013 . bizjournals.com external links edit official site holdings historical sec filings v t e airline holding companies of the united states current alaska air group allegiant travel company american airlines group atlas air worldwide holdings delta air lines inc. hawaiian holdings mesa air group republic airways holdings skywest inc. southern air holdings southwest airlines co. trans states holdings united continental holdings former airtran holdings amr corporation amtran atlantic coast holdings inc. america west holdings bia cor holdings inc. icahn & co. flyi frontier airlines holdings global aero logistics global aviation holdings mair holdings midwest air group metro airlines northwest airlines corporation pan am corporation pan am systems pinnacle airlines corp. texas air corporation trans world corporation tpg capital transamerica corporation ual corporation us airways group see also list of airline holding companies retrieved from https en.wikipedia.org w index.php title airtran holdings & oldid 737822872 categories airline holding companies of the united statescompanies based in orlando floridaairtran airwayscompanies formerly listed on the new york stock exchange navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated 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