Still trying to raise money, Carmel-based Legacy Travel Club Inc. recently hit a milestone with a proof-of-concept day trip to Michigan.
John Tague, who spent more than a decade in executive leadership at now-defunct Indianapolis airline company ATA Holdings Corp., has landed at another type of transportation company.
Richard Young rules that the $66 million verdict against FedEx was rational and “not monstrously excessive.”
An Indianapolis jury has returned a $65.9 million verdict against Memphis-based FedEx in a breach-of-contract lawsuit brought in 2008 by now-defunct ATA Airlines.
Southwest is striking a deal to acquire ATA’s valuable landing slots at LaGuardia
and most of the dying airlines’ remaining assets for $7.5 million.
Former ATA Airlines employees are trying to comb the wreckage of the bankrupt carrier, looking to grab their financial belongings
before managers and lenders cart off what little is left. Pilots and flight attendants are opposing retention bonuses for
managers who will spend the next several months turning out the lights of the 35-year-old carrier.
The writing has been on the wall that Indianapolis might lose the headquarters for ATA Airlines and/or parent Global Aero
Logistics ever since April, when Global said it was buying Georgia-based World Air Holdings. Now, the writing is on paper:
Indianapolis has lost another headquarters.
More than 18 months after flying out of a bankruptcy reorganization that unloaded $1 billion of debt and costly aircraft leases,
the parent of ATA Airlines still finds landing a profit elusive. Indianapolis-based Global Aero Logistics posted a loss of
$46.1 million in the first half of 2007, according to documents it filed with the Securities and Exchange Commission.