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ATA Files Chapter 11  
User currently offlineChicago757 From United States of America, joined May 2003, 381 posts, RR: 1
Posted (9 years 11 months 1 week 3 days 23 hours ago) and read 9831 times:

As of 3pm CST ATA airlines has filed Chapter 11. I think this will help the airline out and its employees (like me!)


Go White Sox!!!!
36 replies: All unread, showing first 25:
 
User currently offlineNWAFA From United States of America, joined Dec 2003, 1893 posts, RR: 15
Reply 1, posted (9 years 11 months 1 week 3 days 23 hours ago) and read 9726 times:

Chicago757,

Where are your sources? Nothing has come over the wires. Nothing on ATA's website.



THANK YOU FOR FLYING NORTHWEST AIRLINES, WE TRULY APPRECIATE YOUR BUSINESS!
User currently offlineMariner From New Zealand, joined Nov 2001, 25323 posts, RR: 85
Reply 2, posted (9 years 11 months 1 week 3 days 23 hours ago) and read 9670 times:
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NWAFA:

It was a story put out by WISH-TV.

It started as "will" file, then became "could" file, and then sources say they "might" file.

No one else is reporting it.

cheers

mariner



aeternum nauta
User currently offlineEA CO AS From United States of America, joined Nov 2001, 13612 posts, RR: 62
Reply 3, posted (9 years 11 months 1 week 3 days 23 hours ago) and read 9614 times:
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As of 3:55pm Pacific Time, the ATA homepage does not show any press release concerning a Chapter 11 filing, nor are any of the wire services covering it.

Methinks the TV station at IND jumped the gun.



"In this present crisis, government is not the solution to our problem - government IS the problem." - Ronald Reagan
User currently offlineSTLGph From United States of America, joined Oct 2004, 9383 posts, RR: 26
Reply 4, posted (9 years 11 months 1 week 3 days 22 hours ago) and read 9476 times:

Yes, but ATA hasn't exactly put -anything- on their website, either, in terms of their financial woes.



if assumptions could fly, airliners.net would be the world's busiest airport
User currently offlineNWAFA From United States of America, joined Dec 2003, 1893 posts, RR: 15
Reply 5, posted (9 years 11 months 1 week 3 days 22 hours ago) and read 9335 times:

STL,

No Carrier would put that kind of information on their websites...ATA would be required to let their customers who were going to book on their site that things will be "business as usual"...



THANK YOU FOR FLYING NORTHWEST AIRLINES, WE TRULY APPRECIATE YOUR BUSINESS!
User currently offlineMariner From New Zealand, joined Nov 2001, 25323 posts, RR: 85
Reply 6, posted (9 years 11 months 1 week 3 days 22 hours ago) and read 9303 times:
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ATA has not filed - yet.

They made an SEC filing in which they said that their present CFO would become the Chief Restructuring Officer.

They have also re-hired their old CFO, who they fired some months ago, and they have given him a signing bonus of $157,000.

cheers

mariner

[Edited 2004-10-26 02:13:59]


aeternum nauta
User currently offlineConcordeBoy From , joined Dec 1969, posts, RR:
Reply 7, posted (9 years 11 months 1 week 3 days 22 hours ago) and read 9251 times:

No Carrier would put that kind of information on their websites...

...ya mean like UA and US did?


User currently offlineNWAFA From United States of America, joined Dec 2003, 1893 posts, RR: 15
Reply 8, posted (9 years 11 months 1 week 3 days 22 hours ago) and read 9225 times:

Did they put that they were having money issues on their websites? I was under the impression that it was JUST the BK.


THANK YOU FOR FLYING NORTHWEST AIRLINES, WE TRULY APPRECIATE YOUR BUSINESS!
User currently offlineNZblue From United States of America, joined Jun 2004, 638 posts, RR: 3
Reply 9, posted (9 years 11 months 1 week 3 days 22 hours ago) and read 9192 times:

No Carrier would put that kind of information on their websites...

...ya mean like UA and US did?


Don't forget that Hawaiian Airlines also periodically updates its own website with their own chapter 11 bankruptcy progress for all to see.



It's an entirely different kind of flying; all together.
User currently offlineEA CO AS From United States of America, joined Nov 2001, 13612 posts, RR: 62
Reply 10, posted (9 years 11 months 1 week 3 days 22 hours ago) and read 9149 times:
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Yes, but ATA hasn't exactly put -anything- on their website, either, in terms of their financial woes.

While financial pressures are seldom addressed on public company websites, an actual BK filing would be part of their press releases.

Also, as others have mentioned, carriers who file for bankruptcy typically use their websites to convey a message of, "this is just a formality - it's business as usual here at XYZ Air Lines," to reassure the traveling public that it's still safe to book them.



"In this present crisis, government is not the solution to our problem - government IS the problem." - Ronald Reagan
User currently offlineATAFAN From United States of America, joined Oct 2004, 37 posts, RR: 0
Reply 11, posted (9 years 11 months 1 week 3 days 18 hours ago) and read 8639 times:

They have also re-hired their old CFO, who they fired some months ago,

He was not fired, he quit for "personal reasons".


User currently offlineLV From United States of America, joined Jun 2001, 2007 posts, RR: 0
Reply 12, posted (9 years 11 months 1 week 3 days 18 hours ago) and read 8596 times:

Don't forget, WISH-TV is the same station who reported on a noon newscast about a week and a half ago that ATA stock had stopped trading only to retract it on their website even before the five newscast.

User currently offlineMikey711MN From United States of America, joined Nov 2003, 1398 posts, RR: 8
Reply 13, posted (9 years 11 months 1 week 3 days 17 hours ago) and read 8440 times:

http://www.marketwatch.com/news/story.asp?guid=%7B60F0EEA2%2DB14C%2D4240%2DBF0C%2D73ED7BFF9D36%7D&siteid=mktw


I plan on living forever. So far, so good...
User currently offlineAa777flyer From , joined Dec 1969, posts, RR:
Reply 14, posted (9 years 11 months 1 week 3 days 16 hours ago) and read 8331 times:

WISH TV sounds more like a rumour mill or a station that reports "WISH"-es...
hahaha..>!!!!


User currently offlineF9Widebody From United States of America, joined Sep 2003, 1604 posts, RR: 10
Reply 15, posted (9 years 11 months 1 week 3 days 9 hours ago) and read 7750 times:

Expected to file for Bankruptcy Tuesday:

http://www.nbc5.com/travelgetaways/3850558/detail.html?z=dp&dpswid=2265994&dppid=65172

Regards



YES URLS in signature!!!
User currently offline7E72004 From United States of America, joined Mar 2004, 3587 posts, RR: 2
Reply 16, posted (9 years 11 months 1 week 3 days 7 hours ago) and read 7225 times:

They HAVE NOT filed as of 9:14 am Indianapolis time; they are expected to do so today. The concern is what will happen to "Indy's hometown airline?" Does anyone think Northwest would pick up some of the slack considering they are already starting the focus operation, should ATA operations be scaled back at IND?


The next generation of aircraft is just around the corner!
User currently offlineNWAFA From United States of America, joined Dec 2003, 1893 posts, RR: 15
Reply 17, posted (9 years 11 months 1 week 3 days 7 hours ago) and read 7106 times:

7e72004,

Since the markets have opend, chances are they won't file until they close..that seems to be how it works.



THANK YOU FOR FLYING NORTHWEST AIRLINES, WE TRULY APPRECIATE YOUR BUSINESS!
User currently offline7E72004 From United States of America, joined Mar 2004, 3587 posts, RR: 2
Reply 18, posted (9 years 11 months 1 week 3 days 7 hours ago) and read 7094 times:

You are probably right; i think US filed on a sunday when the markets were closed. Either way, i hope that the employees will have a job whether it be with ATA, AirTran or America West.


The next generation of aircraft is just around the corner!
User currently offlineSegmentKing From , joined Dec 1969, posts, RR:
Reply 19, posted (9 years 11 months 1 week 3 days 6 hours ago) and read 6604 times:

the last airline to file bankruptcy during daytime hours was TWA when it had a prepackaged DIP filing with Antichrist Airlines.. err AA.

-n


User currently offlineIfly2eat From United States of America, joined Apr 2008, 8 posts, RR: 0
Reply 20, posted (9 years 11 months 1 week 3 days 4 hours ago) and read 5943 times:

Chicago757,

Do not put ANY trust in the bankruptcy laws. Your life and mine are going to change and not for the good.



Fly the friendly skys and stay out of mine.
User currently offline7E72004 From United States of America, joined Mar 2004, 3587 posts, RR: 2
Reply 21, posted (9 years 11 months 1 week 3 days ago) and read 4671 times:

ATA has officially filed for bankruptcy..shares are down to 93 cents!


The next generation of aircraft is just around the corner!
User currently offlineBoeing757/767 From United States of America, joined Jun 1999, 2282 posts, RR: 1
Reply 22, posted (9 years 11 months 1 week 3 days ago) and read 4624 times:

... News conference planned for 4:30 p.m.


Free-thinking, left-leaning secularist
User currently offlineHorus From Egypt, joined Feb 2004, 5230 posts, RR: 59
Reply 23, posted (9 years 11 months 1 week 3 days ago) and read 4624 times:

I always thought the airline was doing well...

This may sound like a stupid question, but what is Chapter 11 and how does it 'help' bankrupt companies?

Horus




EGYPT: A 7,000 Year Old Civilisation
User currently offlineAnt72LBA From United Kingdom, joined Jul 2003, 414 posts, RR: 1
Reply 24, posted (9 years 11 months 1 week 3 days ago) and read 4594 times:

Horus

Why not start that Q as a new thread so it can be referred to in future? Would be of use to any new members/anyone who isn't familiar with Ch.11.


25 Post contains links AirTran737 : http://www.nyse.com/marketinfo/p1020656068262.html?displayPage=http%3A//www.nyse.com/cgi-bin/ny_quote%3Fsym%3Datah A conference call regarding the fil
26 JBLUA320 : 5:34pm here on the east coast. MSNBC just reported that they have officially filed. JBLUA30
27 Dutchjet : Thanks, AirTran737, for linking us to something official.....this is likely to be the news that everyone has expected over the past couple days. Will
28 EA CO AS : Any word of leaks of who (if anyone) is getting part of TZ?
29 Post contains links AirTran737 : There is also a press conference at ATA headquarters that is slated to begin in 53 minutes. http://www.nyse.com/marketinfo/p1020656068262.html?display
30 Mikey711MN : CBS MarketWatch is reporting it now as well...this should certainly quell all the rumors anyway.
31 Dayflyer : No Carrier would put that kind of information on their websites... ...ya mean like UA and US did? Don't forget that Hawaiian Airlines also periodicall
32 Post contains links Tom in NO : http://www.airliners.net/discussions/general_aviation/read.main/1795622 Tom at MSY
33 L.1011 : To answer Horus's question, Chapter 11 is bankruptcy protection. If a company's liabilities (debt) exceed their assets, the people they owe money to c
34 Post contains links FlyFL : http://www.prnewswire.com/cgi-bin/micro_stories.pl?ACCT=932993&TICK=AAI&STORY=/www/story/10-26-2004/0002311472&EDATE=Oct+26,+2004
35 Lat41 : How many times has this happened before? Try to grow too fast, order too many new aircraft, open up too many new untried destinations and routes, hire
36 DLKAPA : So does this mean that ATA is in fact flying under bankruptcy protection? What is that 3 carriers now and one on the brink while still another's futur
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