ATA Airlines granted interim cash collateral use

By Caroline Salls

Pittsburgh, April 7 - ATA Airlines, Inc. was granted interim court approval to use $2.1 million in cash collateral through April 25, according to a Monday filing with the U.S. Bankruptcy Court for the Southern District of Indiana.

The final hearing is scheduled for April 25.

As previously reported, the company is seeking final approval to use $24.94 million in cash collateral under a 26-week budget.

Proceeds of the interim cash collateral will be used for the payment of costs and expenses associated with the wind down of the company's operations and the orderly liquidation of ATA's assets.

ATA, an Indianapolis-based airline, filed for bankruptcy on April 2. Its Chapter 11 case number is 08-03675.

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