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ATW-online.com:
America West Airlines is in exploratory talks with
ATA Airlines about purchasing the struggling Indianapolis-based carrier, according to the Wall Street Journal.
ATA, formerly known as American Trans Air, enjoys among the lowest unit costs in the industry but is cash-poor and burdened with heavy aircraft payments, the result of aggressive expansion begun prior to 9/11. For the six months ended June 30, it posted a $90.8 million net loss compared to $29.5 million net income in the prior-year period. At the time it said that it expected to report a loss for the full year and warned that under current operating assumptions and absent any changes to existing aircraft lease obligations it does not expect to have sufficient cash to meet its obligations in the 2005 first quarter (ATWOnline, Aug. 18). Its fleet of 737NGs and 757s is not really compatible with
AWA's fleet, which is built around a mix of Airbus narrowbodies and 737 Classics, but it enjoys a strong position at Chicago Midway.
AWA has not had a midcontinent hub since it pulled the plug on its money-losing Columbus, Ohio, base last year. Neither airline would comment to the Journal, which cited "people familiar with the discussions."