ATA Airlines and its parent company ATA Holdings Corp. will end their federal bankruptcy protection by Feb. 28, ending 14 months of the carrier slashing routes and cutting its labor force by half to save money.
The revamped airline will use about half the jets it had when it filed for Chapter 11 protection in October 2004 and focus on flying to travel destinations as part of expanded service. About half the carrier's business will come from military charters.
"We're not nearly concerned about size as we are about being profitable," ATA chief executive John Denison said Tuesday. "We have to go foxhole by foxhole, looking at the way we do business and making changes as we think are required. We're not done with that process. It'll continue on forever."
U.S. Bankruptcy Court Judge Basil H. Lorch III on Monday approved ATA's reorganization plan, which cleared the way for the airline to set its Chapter 11 exit date. Final paperwork confirming the judge's order was filed Tuesday.
News&Observer
The revamped airline will use about half the jets it had when it filed for Chapter 11 protection in October 2004 and focus on flying to travel destinations as part of expanded service. About half the carrier's business will come from military charters.
"We're not nearly concerned about size as we are about being profitable," ATA chief executive John Denison said Tuesday. "We have to go foxhole by foxhole, looking at the way we do business and making changes as we think are required. We're not done with that process. It'll continue on forever."
U.S. Bankruptcy Court Judge Basil H. Lorch III on Monday approved ATA's reorganization plan, which cleared the way for the airline to set its Chapter 11 exit date. Final paperwork confirming the judge's order was filed Tuesday.
News&Observer
