Wed, Oct 27, 2004
AirTran To Take Over Flight Ops, Gates
ATA, the nation's tenth-largest airline, filed for bankruptcy
late Tuesday, presenting the federal court with a full plan for
turning over its operations to rival low-cost carrier AirTran.
"Excess capacity, extremely high fuel prices, which continue to
escalate, and declining fares have necessitated that all airlines,
including ATA, re-examine their business," said the CEO of ATA's
parent group, George Mikelsons.
AirTran was one of two airlines thought to have been in
negotiations with ATA. Now, ATA says AirTran will pay $87.5 million
for ATA's gate leases, flight operations and routes eminating from
Chicago, New York and Washington. The fate of the company's 7,700
workers has not yet been disclosed.
Earlier in the day, pilots like Erick Enghdal, an ALPA
executive, suggested ATA might set off a bidding war for its gates
at Chicago Midway in hopes of creating a soft landing back where it
started, in Indianapolis. "There's something going on but it's very
quiet," Engdahl told the Indianapolis Star. "I think ATA wants to
go in (to bankruptcy) with something like a prenuptial with someone
else who will merge with them and give them the extra cash they
need to continue operating."
There appeared to be no reason for ATA to go back to its unions
for more concessions. Already, pilots have forked over $43 million
worth of compensation during the next two years. Flight attendants
have okayed another $24 million.
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