ATA Airlines files for Chapter 11 amid costly fuel and lower demand

“Excess capacity, extremely high fuel prices, which continue to escalate, and declining fares have necessitated that all airlines, including ATA, re-examine their business,” George Mikelsons, CEO of ATA Holdings, said in a statement.

http://money.cnn.com/2004/10/26/news/midcaps/ata/index.htm?cnn=yes
ATA Airlines files for Chapter 11

Airline files for bankruptcy protection from creditors amid costly fuel and lower demand.
October 26, 2004: 7:25 PM EDT

NEW YORK (CNN/Money) – ATA Holdings Corp., parent of struggling low-cost carrier ATA Airlines, said Monday it filed for Chapter 11 bankruptcy protection.

The move came a day after the troubled airline named its chief financial officer, Gilbert Viets, to the new position of chief restructuring officer, hoping to control the airline’s mounting debt.

The nation’s tenth-largest airline is facing a fare war as many in the airline industry have been struggling with soaring fuel costs and lower demand.

http://money.cnn.com/2004/10/26/news/midcaps/ata/index.htm?cnn=yes