EXHIBIT 12.1
Amtran, Inc.
Calculation of "Earnings" and "Fixed Charges"
Prepared: 1/28/00
1992 1993 1994 1995 1996
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Earnings:
Pre-tax income (loss)
from continuing operations (2,643,000) 3,866,000 5,879,000 14,653,000 (39,581,000)
Fixed charges 17,726,894 16,436,282 18,081,849 22,430,142 26,155,258
Less: capitalized
interest add-back -0 -0 (140,000) (1,295,000) (1,350,218)
Total Earnings 15,083,894 20,302,282 23,820,849 35,788,142 (14,775,960)
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Fixed Charges:
Interest expense 6,898,000 3,872,000 3,656,000 4,163,000 4,465,000
Interest capitalized during period -0 -0 140,000 1,295,000 1,350,218
Debt issue cost amortization 24,311 38,616 419,223 649,139 881,239
Bank commitment fees 525,833 409,166 452,876 535,003 695,801
Interest portion of rental expense 10,278,750 12,116,500 13,413,750 15,788,000 18,763,000
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Total Fixed Charges 17,726,894 16,436,282 18,081,849 22,430,142 26,155,258
Deficiency of earnings available to
cover fixed charges
Ratio or earnings to fixed charges 5,739,000 13,358,000 (40,931,218)
1.32 1.60 (0.56)
Interest Portion of rental expense is the aircraft rent
and other rent expense *25%
9 mos 9 mos
1997 1998 1999 9/30/98 9/30/99
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Earnings:
Pre-tax income (loss)
from continuing operations 6,027,000 67,210,000 77,795,312 64,768,000 77,454,000
Fixed charges 28,180,507 32,109,595 44,703,663 23,397,942 33,129,066
Less: capitalized
interest add-back (702,626) (2,039,517) (3,874,651) (976,797) (2,900,122)
Total Earnings 33,504,881 97,280,078 118,624,324 87,189,145 107,682,944
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Fixed Charges:
Interest expense 9,454,000 12,808,000 20,965,922 9,671,000 15,413,000
Interest capitalized during period 702,626 2,039,517 3,874,651 976,797 2,900,122
Debt issue cost amortization 1,367,272 1,347,099 1,574,424 1,003,381 1,225,695
Bank commitment fees 907,109 248,979 295,916 186,764 213,999
Interest portion of rental expense 15,749,500 15,666,000 17,992,750 11,560,000 13,376,250
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Total Fixed Charges 28,180,507 32,109,595 44,703,663 23,397,942 33,129,066
Deficiency of earnings available to
cover fixed charges
5,324,374 65,170,483 73,920,661 63,791,203 74,553,878
Ratio or earnings to fixed charges 1.19 3.03 2.65 3.73 3.25
Interest Portion of rental expense is the aircraft rent
and other rent expense *25%