INDIANAPOLIS—(BUSINESS WIRE)—June 13, 2002—ATA (American Trans Air, Inc.) (Nasdaq:AMTR) today announced it is filing an application with the Air Transportation Stabilization Board (ATSB) for a $165 million, fully secured, federal loan guarantee to be used to restore liquidity that the carrier lost as a result of the events of September 11th.
ATA believes it is an appropriate applicant for the federal loan program because of its solid business plan that produced profitable results through August 31, 2001, and produced top of the industry results in the first quarter of 2002. However, since September 11th, access to credit and capital markets has been extremely difficult for the airline industry—and especially for airlines the size of ATA. Even though ATA`s recovery has been industry leading, it`s only prudent that the Company pursue all available liquidity options to further strengthen its financial position.
Now in its 29th year of operation, ATA is the nation`s 10th largest carrier (based on revenue passenger miles flown). ATA offers significant scheduled service from Chicago-Midway and Indianapolis to over 40 business and vacation destinations. Stock of the Company`s parent company, ATA Holdings Corp. (formerly known as Amtran, Inc.), is traded on the NASDAQ stock market under the symbol “AMTR.” For more information or to learn about the Company, visit the website at www.ata.com.