ATA requests extension of cash collateral to March 3

By Caroline Salls

Pittsburgh, Feb. 2 - ATA Holdings Corp. requested an extension of the expiration date for its use of cash collateral in its Chapter 11 case to March 3 to ensure that the cash collateral is available until the company's plan of reorganization becomes effective, according to a Wednesday filing with the U.S. Bankruptcy Court for the Southern District of Indiana.

Under the proposed extension, the cash collateral from the Air Transportation Stabilization Board would expire on the earlier of the effective date of the plan, on March 3 or upon occurrence of an event of default under the cash collateral agreement.

The court confirmed ATA's plan on Monday.

ATA Holdings Corp., ATA Airlines' parent, filed for bankruptcy on Oct. 26, 2004. The Dulles, Va.-based company's Chapter 11 case number is 04-19866.

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