Manufacturing Industry
America West Airlines decides not to bid for ATA Airlines
Airline Industry Information, Dec 10, 2004
AIRLINE INDUSTRY INFORMATION-(C)1997-2004 M2 COMMUNICATIONS LTD
The parent company of America West Airlines has said that it will not be submitting a bid to acquire bankrupt carrier ATA Airlines.
America West Holdings Corporation said in a statement that it did not believe that the potential value of a combination of America West and ATA justified the anticipated cost.
America West had been interested in acquiring the entire company rather than selected assets, but was unable to reach agreement with ATA's aircraft lessors.
ATA Airlines has already formed an agreement with AirTran Airways for its operations at Chicago Midway Airport as well as its arrival and departure slots at New York's LaGuardia Airport and Ronald Reagan Washington National Airport. This deal is subject to agreement from the US Bankruptcy Court and the carrier's creditors.
Southwest Airlines and JetBlue Airways are thought to be other possible bidders for some of ATA's assets, reports Reuters.
The deadline for interested parties to submit bids for ATA assets is Friday 10 December and a bankruptcy court judge is expected to choose the winning bid on 16 December.
((Comments on this story may be sent to aii.feedback@m2.com))
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