Manufacturing Industry

ATA Airlines reports net profit for July

Airline Industry Information, Sept 2, 2005

AIRLINE INDUSTRY INFORMATION-(C)1997-2005 M2 COMMUNICATIONS LTD

ATA Airlines, currently in Chapter 11 bankruptcy protection, has reported a net income of USD2.97m for July 2005.

The result reportedly includes expenses related to the carrier's reorganisation, with income before the reorganisation costs reported as USD4.13m. ATA has asked for court permission to void a labour contract, a move that could help in gaining USD100m from equity investors, Reuters reported.

ATA Airlines filed for bankruptcy in October last year.

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