, formerly known as '''New ATA Holdings Inc.''', is a private airline , "better reflects the company's diverse, worldwide operations."
ATA Holding changes its name
Originally founded as the successor to Amtran Holdings in
2002 , ATA Holdings was a publicly traded company. ATA Holdings Corp. traded on the
NASDAQ as "" until the company filed bankruptcy proceedings in October, 2004. On April 5, 2007, New ATA Holdings, Inc. changed its name to Global Aero Logistics, Inc. Today, Global Aero Logistics provides scheduled
Airline services, as well as military/commercial air transport charter businesses throughout the world.
On ,
Chicago Express Airlines ,
ATA Cargo ,
ATA Leisure Corp. ,
ATA Training Corp. ,
Amber Travel , and
ExecuJet . ]] ]] ]] The Company and its subsidiaries continued to operate their respective business as debtors-in-possession under the jurisdiction of the Bankruptcy Court, and in accordance with the applicable provisions of the Bankruptcy Code, the Federal Rules of Bankruptcy procedure and applicable court orders, and continued to do this for one and a half years.
After the company's bankruptcy filing on
October 26 ,
2004 , drastic measures were taken to turn the company around and make it profitable. In February, 2005, ATA named John G. Denison CEO, and later that year, launched their first-ever
Codeshare agreement with
Southwest Airlines , enabling ATA to connect their passengers to Southwest's markets and vice-versa. ATA also cut down its scheduled operations, most significantly from its former hub at
Chicago Midway International Airport . On
February 28 ,
2006 , New ATA Holdings Inc. emerged from Chapter 11 United States Bankruptcy Protection.
On
April 5 ,
2007 , Global Aero Logistics announced an agreement to acquire World Air Holdings, Inc. in a $315 million all-cash transaction. Simultaneously, New ATA Holdings officially announced their name had been changed to Global Aero Logistics, Inc., effective immediately, to reflect their diverse global operations and its recent acquisition of companies with the financial backing of the Matlin Patterson Global Opportunities investment firm. Terms of the $315 million deal were that Global Aero Logistics, Inc. would operate
ATA Airlines ,
North American Airlines , and
World Airways under one umbrella (Global Aero Logistics) with each airline (ATA, North American, and World) operating independently when the transaction is completed sometime in the third quarter of 2007. Thus far the company has not addressed the potential cost savings of consolidating the training, scheduling, crew positioning, reservations, and various other departments, other than to say interesting economic "synergies" among the three airline companies exist.
With combined revenues of more than $1.7 billion, more than 60
aircraft, and more than 4,500 employees, Global Aero Logistics, Inc. is dedicated to providing services in the passenger, commercial passenger charter, military-on-demand and cargo charter (ACMI) markets in which an increasingly greater amount is now being concentrated in the hands of this one particular
Company masquerading as three separate business entities.
As of August 2007, Global Aero Logistics has 56 aircraft in its fleet consisting of:
ATA Airlines Fleet North American Airlines Fleet World Airways Fleet
.]]
As of September 2007, Global Aero Logistics serves 21 scheduled destinations, and various charter destinations:
- North American Airlines provides scheduled service to 5 destinations.
- World Airways provides scheduled service to no destinations, however, the airline has an extensive charter operation.
