ATA applies to hire Conway as interim chief financial officer

By Caroline Salls

Pittsburgh, June 2 - ATA Holdings Corp. applied to hire Francis J. Conway of Navigant Capital Advisors, LLC as its interim chief financial officer, according to a Wednesday filing with the U.S. Bankruptcy Court for the Southern District of Indiana.

The company also wants to hire Navigant Capital to provide it with financial advisory services.

According to the application, Conway's duties will include:

*Minimizing the cash-burn rate;

*Assisting management with insurance issues;

*Overseeing and assisting the company in its relationships with letter-of-credit providers and other financial institutions;

*Managing the working group of professionals who are assisting ATA in its Chapter 11 cases or representing stakeholders;

*Identifying and implementing short- and long-term liquidity optimization initiatives;

*Communicating and/or negotiating with lenders and advisers;

*Stabilizing ATA's operations;

*Identifying potential "non-core" assets to maximize value; and

*Identifying potential third-party financing or capital sources.

Indianapolis-based ATA, the parent of ATA Airlines, filed for bankruptcy on Oct. 26, 2004. Its Chapter 11 case number is 04-19866.

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