BlackRock Reports $72.9M Stake in AirTran Holdings - cbl

Posted February 4, 2011

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By citybizlist Staff

NEW YORK -- BlackRock Inc. (NYSE: BLK) has reported a 7.28 percent stake worth $72.93 million in AirTran Holdings Inc. (NYSE: AAI), according to an SEC filing.

The New York investing giant said it owned 9.87 million shares in the Orlando, Fla.-based airline, which is being acquired by Dallas-based Southwest Airlines (NYSE: LUV) for $1.40 billion. The stake's value is based on the stock's Feb. 3 closing price of $7.39 per share.

AirTran Airways, one of the nation's largest low-fare airlines, operates over 700 flights a day to over 56 destinations. Its hub is at Hartsfield - Jackson Atlanta International Airport, the world's busiest airport by passenger volume.

AirTran agreed to be acquired by the larger low-cost carrier Southwest Airlines last September. The merger is expected to close in the first half of this year.

BlackRock, one of the largest investment firms in the world, had $3.34 trillion in assets under management, as of Sept. 30, 2010. Headquartered in New York, the firm has 8,900 employees in 24 countries. It has been led since inception by Chairman and CEO Laurence Fink, 57.

Form 13G filing: http://tinyurl.com/6kq9egd

Bio from AirTran site:

Robert L. Fornaro
Chairman, President and Chief Executive Officer

Robert L. Fornaro is Chairman, President and Chief Executive Officer of AirTran Holdings, Inc., and its subsidiary, AirTran Airways, Inc. In addition, he serves on the company's board of directors. Fornaro joined AirTran Airways in March 1999 as president and CFO. He was named chief operating officer and elected to the board of directors in 2001. Fornaro became chief executive officer on Nov. 1, 2007.

Fornaro has 30 years of marketing, planning and management consulting experience. Prior to joining AirTran Airways, he operated a successful aviation consulting practice.

From 1992 to 1997, Fornaro served as senior vice president - planning for US Airways where he directed the company's route planning, pricing and revenue management and overall corporate strategy. Before joining US Airways, Fornaro held the position of senior vice president - marketing planning at Northwest Airlines. His responsibilities included managing Northwest's international alliances and regional airline partner relationships.

Prior to Northwest, Fornaro was senior vice president - marketing and planning at Braniff, Inc. Fornaro also served as vice president - research for Jesup & Lamont Securities, Inc. and director of future schedule planning for Trans World Airlines.

A native of Long Island, N.Y., Fornaro attended Rutgers College in New Brunswick, N.J., on a lacrosse scholarship and earned a bachelors degree in economics. He also received a masters degree in city and regional planning from Harvard University in Cambridge, Mass. He is a director of the Metro Atlanta Chamber of Commerce and serves on the board of the Georgia Aquarium. Fornaro and his wife, Karen, reside in Orlando and have three adult children.

Also at citybizlist, see:

AirTran Holdings, Inc. Reports Net Income of $38.5 Million for 2010

The Southwest-AirTran Merger in Detail - cbl

BlackRock Owns 5.6% of TECO Energy - cbl

BlackRock Reports $1.7B Stake in Southern Co. - cbl

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