From the yahoo ATAH message board linking a FT
article. They are talking about a wet lease deal on the 737s. Take it for what it's worth.
US low-cost carrier on verge of bankruptcy
By Caroline Daniel in London
Published: October 25 2004 00:02
The problems facing even low-cost carriers in the US are set to be underlined this week with the bankruptcy of ATA, which could come as soon as Monday, and a warning from Independence Air on Wednesday about its deteriorating financial position.
According to a person familiar with the filing, ATA, the tenth largest airline in the US could file for bankruptcy on Monay in Indianapolis. Its financial distress has already attracted a number of interested parties who have been holding discussions in the last few weeks and over the weekend about the airline’s assets.
Discussions involving AirTran are currently the most advanced. It is interested in ATA’s operations at Midway airport in Chicago, and may seek to wet-lease its 737 Boeing aircraft. It could file a separate plan with the bankruptcy court, alongside the ATA filing.
AirTran has also been holding talks with Hawaiian Airlines, which is understood to be interested in taking over ATA’s Hawaiian routes, which use 757 aircraft and are based on the West Coast and Phoenix, according to someone familiar with the talks. "