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04-04-2008, 05:28 PM
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| Community Rank: Jetsetter  Join Date: Apr 2004
Posts: 2,084
| ATA files Chap 11 I posted this in the DCL forum last night, but not here. ATA has filed for chapter 11 protection for the second time in less than 3 years. They have ceased all operations. Last night it was thought that they were looking for a partner. Now it appears that they are looking for someone to buy them for parts (known in the financial industry as a "scrap sale" rather than go chapter 7 (where the airline would be liquidated piecemeal). The former is actually better for the stockholders and lenders, while the second usually brings in less money and only benefits the lenders. Synopsis: ATA is gone. If you paid for them with a credit card, you can probably get your money back. You may also be able to be accomodated by another airline, provided that the route is identical and they have space. Since most airlines are running load factors in the high 80% range and flights to places like Orlando are probably near 100% for "high season", you may be totally out of luck.
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About This Page: This is a discussion on ATA files Chap 11 within the Ask the Travel Agents: Your Q&A, part of the PassPorter Community - Message Boards and Forums; I posted this in the DCL forum last night, but not here.
ATA has filed for chapter 11 protection for ...
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