ATA For Now!
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Edward Okun, the real estate entrepreneur who is expected to acquire regional airline Chicago Express, plans to turn the defunct commuter service into "the premier regional airline in the country," said Okun's attorney, Joe Kavan, on Friday.
"He wants to build it back up to the levels it operated before and beyond."
Earlier this year, Chicago Express, as a subsidiary of bankrupt Indianapolis-based ATA, operated flights between Indianapolis and Evansville, Fort Wayne and South Bend, among other short Midwestern flights. Operations ceased Monday.
Chicago Express' selling price was not revealed by Kavan, ATA or bankruptcy court filings. ATA spokeswoman Roxanne Butler said Okun's bid was selected over five others. The bidding was conducted in private Thursday in the Indianapolis offices of Baker & Daniels, ATA's law firm.
U.S. Bankruptcy Judge Basil Lorch III is expected to approve the deal Monday.
Okun, 54, who lives with his wife, Dorothy, in Carmel, did not return phone calls Friday. Kavan, from his office in Omaha, Neb., said Okun was in St. Petersburg, Fla., for the weekend's Indy Racing League race.
Earlier this month it was announced Okun's real estate investment and management company, Investment Properties of America, would be the primary sponsor of driver Adrian Fernandez's car in this year's Indianapolis 500-Mile Race.
ATA acquired Chicago Express in 1999 for $1.9 million. Its plan was to funnel Midwest passengers to the airline's hub at Chicago's Midway Airport. After ATA downsized its Chicago operation, it no longer needed a feeder line.
At its peak, Chicago Express had 600 employees and carried a million passengers a year to Chicago; Indianapolis; Grand Rapids, Mich.; Flint, Mich.; and Milwaukee, in addition to three smaller Indiana cities. It was founded in the early 1990s by a team that included Bryan Bedford, who later became chairman of Indianapolis-based Republic Airways.
Kavan said Okun's plan was to restore that service and add more flights throughout the Great Lakes region.
Kavan declined to say how much money Okun would pump into the airline. "He's willing to commit the financial resources necessary," Kavan said. "We're meeting next week to put those numbers together."
Though Okun has no prior airline experience, he will be "building a team of existing employees and senior staff of Chicago Express," Kavan said.
Okun's company owns and manages more than a dozen commercial properties, including two in Indianapolis: Crooked Creek Mall at 79th Street and Michigan Road and a Park 100 warehouse.
"He wants to build it back up to the levels it operated before and beyond."
Earlier this year, Chicago Express, as a subsidiary of bankrupt Indianapolis-based ATA, operated flights between Indianapolis and Evansville, Fort Wayne and South Bend, among other short Midwestern flights. Operations ceased Monday.
Chicago Express' selling price was not revealed by Kavan, ATA or bankruptcy court filings. ATA spokeswoman Roxanne Butler said Okun's bid was selected over five others. The bidding was conducted in private Thursday in the Indianapolis offices of Baker & Daniels, ATA's law firm.
U.S. Bankruptcy Judge Basil Lorch III is expected to approve the deal Monday.
Okun, 54, who lives with his wife, Dorothy, in Carmel, did not return phone calls Friday. Kavan, from his office in Omaha, Neb., said Okun was in St. Petersburg, Fla., for the weekend's Indy Racing League race.
Earlier this month it was announced Okun's real estate investment and management company, Investment Properties of America, would be the primary sponsor of driver Adrian Fernandez's car in this year's Indianapolis 500-Mile Race.
ATA acquired Chicago Express in 1999 for $1.9 million. Its plan was to funnel Midwest passengers to the airline's hub at Chicago's Midway Airport. After ATA downsized its Chicago operation, it no longer needed a feeder line.
At its peak, Chicago Express had 600 employees and carried a million passengers a year to Chicago; Indianapolis; Grand Rapids, Mich.; Flint, Mich.; and Milwaukee, in addition to three smaller Indiana cities. It was founded in the early 1990s by a team that included Bryan Bedford, who later became chairman of Indianapolis-based Republic Airways.
Kavan said Okun's plan was to restore that service and add more flights throughout the Great Lakes region.
Kavan declined to say how much money Okun would pump into the airline. "He's willing to commit the financial resources necessary," Kavan said. "We're meeting next week to put those numbers together."
Though Okun has no prior airline experience, he will be "building a team of existing employees and senior staff of Chicago Express," Kavan said.
Okun's company owns and manages more than a dozen commercial properties, including two in Indianapolis: Crooked Creek Mall at 79th Street and Michigan Road and a Park 100 warehouse.
