Business Briefs: AirTran to Downsize ATL Hub, Southern Company Second Quarter Earnings Down

AirTran Airways downsizing Atlanta hub

AirTran Airways is planning to downsize its Atlanta hub due to the high cost of fuel, company executives said Tuesday.

AirTran's Chief Financial Officer Arne Haak said during a conference call yesterday, that due to high oil prices it was not profitable for the company to maintain the Atlanta hub at its capacity.

The Orlando-based airline is also planning on cutting back other hubs in other cities. AirTran also announced an employee pay cut, by as much as 15 percent.

AirTran has reported that the company lost $13.5 million during the second quarter.

Southern Company reports lost revenue

Southern Company, owners of Georgia Power, reported a three percent loss in revenue during their second- quarter.

The company reported second-quarter earnings to be $416.4 million. Earnings for the first six months of 2008 are $775 million, compared to $767.8 million last year.

The revenue difference is based on many factors, including slow sales, reported the company.