FlyChicaga
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ATA Airlines Flight Attendants Narrowly Reject Assistance Measures
INDIANAPOLIS, July 30 /PRNewswire-FirstCall/ -- ATA Airlines, Inc.(Nasdaq: ATAH) has been informed by the Association of Flight Attendants (AFA)that its membership narrowly defeated Letters of Agreement to amend theexisting collective bargaining agreement, which would have resulted in savingsof several million dollars to the Company over the next two years. (Logo: http://www.newscom.com/cgi-bin/prnh/20030929/ATAHLOGO-b ) "This was a very close decision. Apparently, only 69 percent of thoseeligible voted and, within that group, 51 percent voted against the proposal.We are very disappointed. The Company needs to reduce its labor costs inorder to make it through this difficult period for ATA and the industry," saidRichard Meyer, Jr., Vice President of Labor Relations. The Company was seeking the assistance package in an effort to cut costsduring recent economic difficulties in the airline industry. ATA HoldingsCorp., parent company of ATA, announced on July 14 that it does not expect toearn a profit in 2004. This updated guidance was a result of rising jet fuelcosts and weak revenues caused by aggressive pricing in the industry. ATAHoldings Corp. has been implementing cost-cutting measures to reduce theexpected 2004 loss. Stock of the parent company, ATA Holdings Corp., is traded on the NasdaqStock Exchange under the symbol "ATAH." To learn more about the Company,visit the web site at http://www.ata.com.
INDIANAPOLIS, July 30 /PRNewswire-FirstCall/ -- ATA Airlines, Inc.(Nasdaq: ATAH) has been informed by the Association of Flight Attendants (AFA)that its membership narrowly defeated Letters of Agreement to amend theexisting collective bargaining agreement, which would have resulted in savingsof several million dollars to the Company over the next two years. (Logo: http://www.newscom.com/cgi-bin/prnh/20030929/ATAHLOGO-b ) "This was a very close decision. Apparently, only 69 percent of thoseeligible voted and, within that group, 51 percent voted against the proposal.We are very disappointed. The Company needs to reduce its labor costs inorder to make it through this difficult period for ATA and the industry," saidRichard Meyer, Jr., Vice President of Labor Relations. The Company was seeking the assistance package in an effort to cut costsduring recent economic difficulties in the airline industry. ATA HoldingsCorp., parent company of ATA, announced on July 14 that it does not expect toearn a profit in 2004. This updated guidance was a result of rising jet fuelcosts and weak revenues caused by aggressive pricing in the industry. ATAHoldings Corp. has been implementing cost-cutting measures to reduce theexpected 2004 loss. Stock of the parent company, ATA Holdings Corp., is traded on the NasdaqStock Exchange under the symbol "ATAH." To learn more about the Company,visit the web site at http://www.ata.com.
