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AirTran Holdings buys back $29.2 million of its 7% convertible notes through Thursday
By Susanna Moon
Chicago, April 24 - AirTran Holdings Inc. repurchased $1.5 million of its 7% convertible notes during the three months ended March 31, resulting in a gain of $0.3 million, according to a 10-Q filing with the Securities and Exchange Commission.
The company said it bought back an additional $27.7 million of its 7% convertibles through April 23, resulting in gains of $4.1 million.
AirTran, an Orlando, Fla.-based airline, said its board of directors authorized repurchases of up to $50 million of the notes in the first and second quarters of 2009. The company may buy the convertibles in the open market or in private deals.
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