AirTran Airways reported a 2008 net loss of $273.8 million, reversed from a $52.7 million profit in 2007, citing "multiple financial challenges" and noting that the result included nonoperating losses of $150.8 million related to its "out-of-the-money" fuel hedge contracts. Chairman, President and CEO Bob Fornaro called 2008 "especially tough" and noted that the "industry challenge" shifted from "high oil costs to concerns regarding consumer demand" over the course of the 12 months. He ...

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