Scania
03-04-2008, 07:42 PM
CHICAGO, Illinois (CNN) -- ATA Airlines has ceased all flights as it files for bankruptcy, apologizing to its customers for the airline's "sudden shutdown," according to a company statement released Thursday.
The low-cost, charter airline based in Indianapolis, Indiana, filed for Chapter 11 status on Wednesday as a result of financial problems "following the loss of a key contract for our military charter business," ATA said.
"Unfortunately, we were not in a position to provide our customers or others with advance notice," ATA said.
The airline, founded in 1973, served major business centers - including Chicago, Dallas and Oakland - and popular vacation spots throughout the United States, including Hawaii, Los Angeles, Phoenix, and Las Vegas. The airline also operated as a leading carrier for the U.S. military.
It operated 29 aircraft, including Boeing 737-800s, Boeing 757-200s, Boeing 757-300s, DC10s and Lockheed L-1011s.
At the time of its shutdown, ATA employed approximately 2,230 people, including approximately 600 pilots, more than 800 flight attendants, and more than 100 mechanics.
In the past few months, we have lost; Aloha Airlines, ATA, Champion Air, Big Sky Airlines, MaxJet and Skyway Airlines.
RyanAir just also announced:
Ryanair, Europe’s largest low fares airline today confirmed that it was freezing the pay of its senior management for 2008 as part of a series of cost cutting measures over the coming weeks as the price of oil rises to over $100 a barrel. From 1st April next Ryanair’s current $68 per barrel fuel hedges, expire.
Ryanair confirmed that it is reviewing all of its major costs including airports, staffing, fuel and currency exposures and this cost reduction programme will continue over the coming weeks. Since Ryanair is the only airline in Europe to guarantee the lowest fares and no fuel surcharges, Ryanair must pay for higher oil by reducing costs elsewhere.
Ryanair’s Michael O’Leary said today:
“Given the enormous increase in our fuel costs, and the likelihood that profits over the coming year may fall, it is appropriate that Ryanair’s senior management lead this cost reduction programme by example, with a pay freeze in 2008.
None of Ryanair’s senior management team (comprising over 30 individuals) will receive any pay increase this year unless the current high oil prices fall, and until we can see some prospect of profits being increased. We are working intensively on other cost reductions, including focusing on airport costs and handling costs, staff costs and other operating expenses, as we expand Ryanair while lowering fares but absorbing much higher oil costs.
Ryanair will continue to guarantee the lowest fares and no fuel surcharges on every route we operate, This can only be achieved in a period of higher oil prices by reducing costs in every other area.
These cost reductions will mean that Ryanair’s passengers can continue to enjoy Europe’s guaranteed lowest fares, and a guarantee of no fuel surcharges whenever they travel with Ryanair”.
The low-cost, charter airline based in Indianapolis, Indiana, filed for Chapter 11 status on Wednesday as a result of financial problems "following the loss of a key contract for our military charter business," ATA said.
"Unfortunately, we were not in a position to provide our customers or others with advance notice," ATA said.
The airline, founded in 1973, served major business centers - including Chicago, Dallas and Oakland - and popular vacation spots throughout the United States, including Hawaii, Los Angeles, Phoenix, and Las Vegas. The airline also operated as a leading carrier for the U.S. military.
It operated 29 aircraft, including Boeing 737-800s, Boeing 757-200s, Boeing 757-300s, DC10s and Lockheed L-1011s.
At the time of its shutdown, ATA employed approximately 2,230 people, including approximately 600 pilots, more than 800 flight attendants, and more than 100 mechanics.
In the past few months, we have lost; Aloha Airlines, ATA, Champion Air, Big Sky Airlines, MaxJet and Skyway Airlines.
RyanAir just also announced:
Ryanair, Europe’s largest low fares airline today confirmed that it was freezing the pay of its senior management for 2008 as part of a series of cost cutting measures over the coming weeks as the price of oil rises to over $100 a barrel. From 1st April next Ryanair’s current $68 per barrel fuel hedges, expire.
Ryanair confirmed that it is reviewing all of its major costs including airports, staffing, fuel and currency exposures and this cost reduction programme will continue over the coming weeks. Since Ryanair is the only airline in Europe to guarantee the lowest fares and no fuel surcharges, Ryanair must pay for higher oil by reducing costs elsewhere.
Ryanair’s Michael O’Leary said today:
“Given the enormous increase in our fuel costs, and the likelihood that profits over the coming year may fall, it is appropriate that Ryanair’s senior management lead this cost reduction programme by example, with a pay freeze in 2008.
None of Ryanair’s senior management team (comprising over 30 individuals) will receive any pay increase this year unless the current high oil prices fall, and until we can see some prospect of profits being increased. We are working intensively on other cost reductions, including focusing on airport costs and handling costs, staff costs and other operating expenses, as we expand Ryanair while lowering fares but absorbing much higher oil costs.
Ryanair will continue to guarantee the lowest fares and no fuel surcharges on every route we operate, This can only be achieved in a period of higher oil prices by reducing costs in every other area.
These cost reductions will mean that Ryanair’s passengers can continue to enjoy Europe’s guaranteed lowest fares, and a guarantee of no fuel surcharges whenever they travel with Ryanair”.