Thursday, April 03, 2008

If you Plan on Surfing Hawaii You Should Read This!

ATA AIRLINES FILES FOR CHAPTER 11 AND DISCONTINUES OPERATIONS
FOLLOWING CANCELLATION OF KEY MILITARY CHARTER AGREEMENT

INDIANAPOLIS, April 3, 2008 – ATA Airlines, Inc. today announced that it has filed a voluntary petition under Chapter 11 of the U.S. Bankruptcy Code. The petition was filed on April 2 in the U.S. Bankruptcy Court for the Southern District of Indiana, in the Indianapolis division. Subsequent to the Chapter 11 filing, ATA discontinued all operations, effective as of 4 am ET on April 3. A primary factor leading to these actions was the unexpected cancellation of a key contract for ATA’s military charter business, which made it impossible for ATA to obtain additional capital to sustain its operations or restructure the business. More ATA Airlines Story... Surfing Hawaii on Surf Trip.com

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