ATA is the first US budget airline to seek bankruptcy
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ATA Airlines has become the first major low-fare airline in the United States to seek Chapter 11 bankruptcy protection. The move, which came on Tuesday, immediately set off a bidding war for the company and its assets.
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ALEXANDRIA, Va.  - US Airways Group Inc. UAIR.O,  squeezed severely by low-cost rivals and soaring fuel prices  and failing in its drive for new labor concessions, filed for  bankruptcy protection on Sunday for the second time in two  years.
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With ATA Airlines having crash-landed into bankruptcy court last week, the future of the airlineâs Fort Wayne-to-Chicago air service isnât the only thing up in the air.
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US Airways (UAIRQ.OQ: Quote, Profile, Research) has asked a bankruptcy judge to approve temporary wage and other cost cuts from its unions, saying it only has enough cash to survive through January 2005.
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OCTOBER 27, 2004 -- Indianapolis, Ind. -- ATA Airlines yesterday filed for bankruptcy protection, the first domestic, low-fare airline to go the way of several traditional air carriers.
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Description: Less than two years after emerging from bankruptcy, US Airways once again seeks Chapter 11 protection from creditors.
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Troubled carrier US Airways has asked a US bankruptcy court to impose big wage and cost cuts, warning that otherwise it might fail to survive.
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ATA Holdings Corp. ATAH.O, parent  of struggling low-cost carrier ATA Airlines, on Tuesday filed  for Chapter 11 bankruptcy protection as falling fares and  soaring fuel prices drained it of cash.
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US Airways (UAIR.O), struggling to avoid a second bankruptcy, has asked pilots for a 16.5 percent pay cut, USA Today reported in its Friday editions.
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ATA Airlines Inc. named its top financial executive to the new position of chief restructuring officer as the Indianapolis carrier appeared closer Monday to filing for Chapter 11 bankruptcy protection, possibly as early as Tuesday.
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US Airways Group Inc. UAIR.O  issued a general appeal on Tuesday to the carrier's 3,000  pilots after their union's leaders rejected proposed  concessions the company says are crucial to avert insolvency.
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ALEXANDRIA, Va. -- US Airways asked a bankruptcy judge yesterday to cancel labor contracts with three of its unions and impose much lower pay so it can move ahead with a plan to permanently cut costs, reposition itself as a low-cost carrier, and avoid a possible liquidation.
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ALEXANDRIA, VIRGINIA - US Airways Group, trying to raise money and avoid liquidation, on Monday asked a judge for permission to skip a big pension payment due this week, in its first move since filing for protection against creditors over the weekend.
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Southwest Airlines&#39; package of $117 million in cash, loan payoffs and preferred stock purchases was selected as the winning bid at the bankruptcy court-approved auction for certain ATA Airlines Inc.
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The airline has requested use of the gates in a bid to the federal bankruptcy court of Indianapolis for certain ATA Airlines Inc. assets.
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ALEXANDRIA, Va.  - US Airways Group Inc. UAIR.O,  trying to raise money and avoid liquidation, on Monday asked a  judge for permission to skip a big pension payment due this  week, in its first move since filing for protection against  creditors over the weekend.
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The airline industryâs financial crisis deepened yesterday as cash-strapped US Airways Group Inc., the nationâs seventh-largest carrier, filed for bankruptcy protection for the second time in two years.