OK, AirTran made .11 cents per share, vs the estimate of .03 per share and they have more than $500 million in unrestriced cash on hand, according to an AP story. They are 40% hedged for 2010, with benefits from hedging kicking in at about $60 per barrel of oil, which is now at about $74 per barrel. I can see no logical reason why AirTran's stock price should be so low (in the 5's) given it's great financial performance in 2009 and it's strong potential for another great year in 2010. After all, any kind of significant improvement in the economy could propel already strong earnings up sharply. (Yes, I know that oil prices would rise in an economic rebound, but AAI is doing a good job of hedging.) Standard & Poor's is right when they say that AirTran is significatly undervalued when compared to it's peers.
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