ChiExpress auction results?

[generaltso]

The Chicago Express auction was scheduled for 1pm I think. Has anyone heard who won?

Good luck to the crews and employees.

 

[ManChild]

INDIANAPOLIS, March 31 /PRNewswire/ -- ATA Holdings Corp. (ATAHQ), parent company of Chicago Express Airlines, Inc., today announced that Indianapolis- based Okun Enterprises, Inc. was selected as the highest and best bidder at the auction authorized by the U.S. Bankruptcy Court to sell the assets of Chicago Express. Okun Enterprises, a real estate investment and management firm, is controlled by Edward H. Okun. Okun's bid was for substantially all the assets of Chicago Express including the operating certificate, spare parts and inventory. In addition, Okun has agreed to purchase two SAAB 340B aircraft owned by ATA Airlines, Inc.

The bid is subject to U.S. Bankruptcy Court approval at a hearing originally scheduled for April 1 in New Albany, but has been rescheduled for April 4, 2005 at 1:30 p.m. Indiana Time in Indianapolis. In addition the bid is subject to assurances from the Federal Aviation Administration and Department of Transportation. Additional details concerning the sale will be disclosed at the hearing. A total of six parties participated in the Chicago Express auction.


Good or Bad?

 

[Vdub Pilot]

Nobody knows the business plan yet so the jury is still out. It is beleived that C8 will continue to operate Saab 340s "for now".

 

[EMB170Pilot]

Funny Avatar Vdub

 

[preflyt]

Chicago Express Airlines

Mr. Ed Okun won the bid for Chicago Express. The judge auth the sale today.

 

[FlyChicaga]

I pulled into Houston North Ramp today to park and saw N303CE in Continental Connection colors. It was a very weird feeling. I sincerely wish the best for everyone at Chicago Express.

 

[icekazanski]

I heard that the new company has 20 S340s on order. Is that true?

 

[I.P. Freley]

"On order"? There are plenty of Killer B's to go around, I'm sure, but they sure as shootin' aren't getting any new ones.

 

[Hobit]

Yeah Vdub, What the heck is the story behind you avatar?