Air Transport World
NWA reaches agreement to sell seven DC-10s to ATA Airlines
Thursday December 7, 2006
Bankrupt Northwest Airlines said in a court filing yesterday that it has agreed to sell seven DC-10-30s to ATA Airlines, a transaction NWA said would bring "relief" that will help it to reorganize and eventually emerge from Chapter 11 protection.
The carrier plans to retire all its DC-10s by the end of next month and said it marketed the seven planes to "70 potential purchasers." ATA's offer, which was not revealed, "represents the best available transaction for the sale of the aircraft," it said in the filing.
NWA operated 24 DC-10-30s prior to entering bankruptcy but said it will have just one left if the sale to ATA is cleared, and will remove all such aircraft from service no later than Jan. 31. The agreement with ATA calls for the DC-10s to be delivered beginning this month and continuing through February. Each of the seven will be sold with three engines, NWA said. Two additional spare engines also will be sold to ATA.