Southwest helps ATA Airlines to come out of bankruptcy

Bankrupt ATA Airlines has filed a plan with the federal bankruptcy court to come out of bankruptcy.

The plan calls for Southwest Airlines investing $30 million, in addition to $100 million committed by a new investor.

ATA has been in bankruptcy since October 2004 and has had a code-sharing agreement with Southwest since last year that allows the two airlines to sell tickets on some of each other’s flights.