AirTran Promotes Fornaro To CEO

AirTran Holdings appointed president and COO Robert Fornaro as CEO Joe Leonard's successor, effective today. Leonard remains chairman of AirTran's board of directors.

Fornaro joined the carrier in 1999, months after Leonard took on the chief executive role, and since has been groomed to take the post as "part of the board's succession planning," Leonard said in a statement today. The board during its fall meeting this week officially elected Fornaro to assume CEO duties.

"Bob Fornaro is highly respected throughout the airline industry and has been well known for many years in the media, financial and investor communities for his strategic planning, financial acumen and marketing expertise," Leonard said in a statement.

AirTran this week reported a net profit of $10.6 million for the third quarter, fueled by a record load factor of 80.1 percent and an average fare increase of 0.8 percent from the same period last year.