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ATA selling Midway gates?
ATA denied reports it was selling its gates at Chicago’s Midway Airport to avert bankruptcy.
The low-cost airline, the largest carrier at Midway, said in a statement it is restructuring finances.
“While engaged in that effort, we are not abandoning Chicago Midway, nor are we canceling flights,” said George Mikelsons, chairman and chief executive.
Michael Boyd, an aviation consultant at the Boyd Group, was quoted in Airwise News as saying ATA is “definitely” looking to sell its Midway gates. He said the likely buyer was Southwest, which is the no. 2 carrier at Midway.
ATA told the Securities % Exchange Commission last week that it might have to sell some assets because it might have enough cash to meet obligations.
ATA currently has 14 gates at Midway. The airport is home to ATA’s biggest hub and accounts for two-thirds of its passenger traffic.
ATA has in the past blamed high fuel costs and intense fare competition with Southwest for its financial problems.
ATA recently announced it was setting up a system-wide Business Class service that would begin in late November.
Report by David Wilkening
David
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