ATA seeks to extend reorganization plan exclusivity

By Caroline Salls

Pittsburgh, May 3 - ATA Holdings Corp. asked for an extension to its exclusive period to file a plan of reorganization, according to a Tuesday filing with the U.S. Bankruptcy Court for the Southern District of Indiana.

ATA wants to extend the period by 90 days to Aug. 22 from May 24.

The company said the extension is necessary because of the large size and complex structure of the bankruptcy case.

"In addition to managing their day-to-day operations, [ATA] and their advisors have been evaluating all facets of their businesses and operations in order to determine the best method for returning value to their creditors, including analyzing leases of aircraft used in debtors' operations and executory contracts," the filing said.

ATA also undertook two auctions, one involving the sale of assets at Midway Airport in Chicago.

A hearing on the motion will be held May 23. The deadline for objections is May 16.

Indianapolis-based ATA, the parent of ATA Airlines, filed for bankruptcy on Oct. 26, 2004. The case number is 04-1986.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.