The old ValuJet gimmicks--the critter-like airplane cartoon logo and antique bells peeling in the headquarters to alert for company announcements--are long gone. They would be out of place in the quiet, business-like main office of AirTran Airways, ValuJet's successor, which has transformed itself in the last year into a new and tough competitor. Second-quarter net earnings of $22.6 million, the sixth consecutive quarter of positive results, provided clear evidence that AirTran is ...

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