SEVEN
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NWA sells seven DC-10s to ATA Airlines
Tuesday December 5, 5:39 pm ET
Northwest Airlines Corp. has agreed to sell seven DC-10 aircraft to ATA Airlines Inc., according to court documents.
The Eagan-based airline, which is trying to reorganize under Chapter 11 bankruptcy protection, wouldn't disclose a price for the aircraft, saying that doing so would hurt other DC-10 deals it wants to make.
Northwest, which filed for Chapter 11 in September 2005, last month ended its use of McDonnell Douglas DC-10 planes for transatlantic flights, using Airbus aircraft instead. The Airbus planes have much better fuel efficiency than the older jumbo jets.
Northwest once owned two dozen DC-10s, but it's been selling off the fleet since 2005.
Following the proposed sale to ATA, Northwest (Pink Sheets: NWACQ - News) will only have one DC-10 airframe, 15 spare engines, miscellaneous flight-training equipment, and other equipment and spare parts unique to the DC-10 fleet. But it still wants to sell those items, and detailing the price paid by ATA could give a competitive advantage to buyers, the company argued.
A hearing on the sale will be held Dec. 14. Published December 5, 2006 by the Minneapolis/St Paul Business Jo
Tuesday December 5, 5:39 pm ET
Northwest Airlines Corp. has agreed to sell seven DC-10 aircraft to ATA Airlines Inc., according to court documents.
The Eagan-based airline, which is trying to reorganize under Chapter 11 bankruptcy protection, wouldn't disclose a price for the aircraft, saying that doing so would hurt other DC-10 deals it wants to make.
Northwest, which filed for Chapter 11 in September 2005, last month ended its use of McDonnell Douglas DC-10 planes for transatlantic flights, using Airbus aircraft instead. The Airbus planes have much better fuel efficiency than the older jumbo jets.
Northwest once owned two dozen DC-10s, but it's been selling off the fleet since 2005.
Following the proposed sale to ATA, Northwest (Pink Sheets: NWACQ - News) will only have one DC-10 airframe, 15 spare engines, miscellaneous flight-training equipment, and other equipment and spare parts unique to the DC-10 fleet. But it still wants to sell those items, and detailing the price paid by ATA could give a competitive advantage to buyers, the company argued.
A hearing on the sale will be held Dec. 14. Published December 5, 2006 by the Minneapolis/St Paul Business Jo