ATA Closer to Recovery with Southwest Deal

Carvlin, Elizabeth
December 2004
Bond Buyer;12/29/2004, Vol. 350 Issue 32039, p3
Trade Publication
The article reports that an attorney working with the unsecured creditors committee has said that an Indianapolis judge ATA Inc.'s plan to turn over a portion of its gates at Chicago's, Illinois, Midway Airport to Southwest Airlines Co. setting a clearer path for ATA to work toward emerging from Chapter 11 bankruptcy. U.S. Bankruptcy Court Judge Basil Lorch has Southwest Airlines' agreement to pay ATA $117 million to help the bankrupt airline toward completing its reorganization plan. The payment includes the cost of leasing six gates at Midway as well as financing that ATA will use to work through the Chapter 11 reorganization.


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