ATA Holdings says cash situation worsening

By Jeff Pines

Washington, Oct. 20 - ATA Holdings Corp.'s situation is worsening, the Indianapolis-based airline holding company said in a Wednesday filing with the Securities and Exchange Commission.

Record high fuel prices and slack revenue, particularly because of the hurricanes that hammered Florida, have hurt the company.

A 10% pay cut agreed to by the airline's flight attendants will not be enough to fix the cash problems, it warned.

"These cash problems continue to be very serious," ATA said.

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