REVOLVING CREDIT FACILITY AND SHORT-TERM BORROWING

12 Months Ended

Dec. 31, 2011

Notes to Financial Statements [Abstract]

Revolving credit facility and short-term borrowing

6. REVOLVING CREDIT FACILITY AND SHORT-TERM BORROWING

On April 28, 2011, the Company entered into a new $800 million unsecured revolving credit facility expiring in April 2016 and terminated its previous $600 millionfacility, which would have expired in October 2012, as well as AirTran's previous facility on the acquisition date.  Other than an increased borrowing capacity, the Company's new facility is substantially the same as its previous facility. At the Company's option, interest on the new facility can be calculated on one of several different bases.  The new facility also contains a financial covenant requiring a minimum coverage ratio of adjusted pre-tax income to fixed obligations, as defined.As of December 31,2011 and 2010, the Company was in compliance with this covenant and there were no amounts outstanding under the previous or current revolving credit facility.