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Out of the Gate: AirTran Holdings climbs

By Associated Press
July 8, 2008 | Comments (0)

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Shares of AirTran Holdings Inc., which operates AirTran Airways, rose Tuesday after the company said it will cut 480 jobs, or more than 5 percent of its staff.

In early morning trading, shares of the Orlando, Fla.-based company rose 14 cents, or 7.5 percent, to $2.02.

AirTran plans to cut 180 pilot jobs and 300 flight attendant jobs, effective Sept. 6.

Soaring fuel prices have hurt many airlines and caused them to cut jobs and implement charges for checked bags.

AirTran has already cut capacity by 15 percent and raised $150 million in cash by selling stock.

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