AMTRAN, INC.
CALCULATION OF "EARNINGS" AND "FIXED CHARGES"
UPDATED: 9/30/02 12 MOS 9 MOS
12/31/00 9/30/01
-------- -------
EARNINGS:
Pre-tax income (loss) from continuing operations (19,929,584) 3,438,017
Fixed charges 59,308,914 56,288,226
Less: capitalized interest add-back (3,208,442) (11,387,813)
-------------------------------------
TOTAL EARNINGS 36,170,888 48,338,430
=====================================
FIXED CHARGES:
Interest expense 31,453,004 21,344,316
Interest capitalized during period * 3,208,442 11,387,813
Debt issue cost amortization 2,253,335 2,451,250
Bank commitment fees 403,633 367,597
Interest portion of rental expense 21,990,500 20,737,250
-------------------------------------
TOTAL FIXED CHARGES 59,308,914 56,288,226
DEFICIENCY OF EARNINGS AVAILABLE TO COVER FIXED CHARGES (23,138,026) (7,949,797)
RATIO OR EARNINGS TO FIXED CHARGES n/a n/a
Interest Portion of rental expense is the aircraft rent and other rent expense *25%
* Represents interest capitalized on deposits made using operating funds or PDP debt.
Total capitalized interest 15,220,574 22,739,968
Cap'd int on deferred Boeing payments (10,633,726) (11,352,155)
Cap'd int on late Boeing payments (1,378,406)
Other -
-------------------------------------
Cap'd int on operating funds (reduction of int expense) 3,208,442 11,387,813
=====================================
AMTRAN, INC.
CALCULATION OF "EARNINGS" AND "FIXED CHARGES"
UPDATED: 9/30/02 12 MOS 9 MOS
12/31/01 9/30/02
-------- -------
EARNINGS:
Pre-tax income (loss) from continuing operations (116,074,192) (133,707,774)
Fixed charges 77,850,305 72,829,293
Less: capitalized interest add-back (14,278,797) (5,672,979)
-------------------------------------
TOTAL EARNINGS (52,502,684) (66,551,460)
=====================================
FIXED CHARGES:
Interest expense 30,082,000 25,979,000
Interest capitalized during period * 14,278,797 5,672,979
Debt issue cost amortization 3,242,980 2,646,175
Bank commitment fees 439,278 225,389
Interest portion of rental expense 29,807,250 38,305,750
-------------------------------------
TOTAL FIXED CHARGES 77,850,305 72,829,293
DEFICIENCY OF EARNINGS AVAILABLE TO COVER FIXED CHARGES (130,352,989) (139,380,753)
RATIO OR EARNINGS TO FIXED CHARGES n/a n/a
Interest Portion of rental expense is the aircraft rent and other rent expense *25%
* Represents interest capitalized on deposits made using operating funds or PDP debt.
Total capitalized interest 29,036,004 6,082,128
Cap'd int on deferred Boeing payments (14,757,207) -409,149
Cap'd int on late Boeing payments
Other
-------------------------------------
Cap'd int on operating funds (reduction of int expense) 14,278,797 5,672,979
=====================================
Page 1 of 1