Some ATA Info...

[Duke 6]

ATA Holdings To Compensate Crews Of Yachts Owned By Chairman
Tuesday November 19, 12:13 pm ET


WASHINGTON -(Dow Jones)- ATA Holdings Corp. (NasdaqNM:ATAH - News) Monday said it signed an agreement to compensate the crews of two yachts owned by the company's chairman and said the yachts will be used for business purposes.
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In a filing with the Securities and Exchange Commission, the company provided details of the agreement, one of the several lease and sublease agreements it has signed.

The company said it is providing the documents as part of its efforts "to follow the spirit" of the Sarbanes-Oxley Act and SEC rules.

Sarbanes-Oxley aims for quicker and more complete reporting of corporate information and stricter accounting oversight.

The agreement for the use of yachts is between ATA Holdings and two entities owned by its chairman and chief executive, J. George Mikelsons. One of the entities, Betaco Ltd., owns a 125-foot Feadship motor yacht with accommodations for eight guests and crew. The other entity, Betaco Inc., owns a 52-foot yacht with accommodations for four guests and crew.

The filing said that historically the vessels have mostly been used for business purposes by ATA Holdings. Prior to Jan. 1, the company wasn't charged for its use, the filing added.

The agreement, dated May 1, was amended in July to provide that ATA Holdings will employ the vessels' crews, consisting of a captain and seven others. The salary of all the crew members is $325,160, including $100,000 for the captain, the filing said.

The company will be reimbursed if in any fiscal year the salaries exceed 75% of the fair market value of the company's use of the vessels, the filing said. The fair market value of the usage of the vessels by ATA Holdings would be determined by the company's internal audit department and reviewed by Ernst & Young LLC, the filing said.

ATA Holdings, Indianapolis, owns American Trans Air, a low-cost airline.

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For those of you who do not know A FEADSHIP is the G-V Luxury and I can not say Luxury enough, its the GULFSTREAM OF THE PRIVATE YATCH WORLD. I LIVE IN FLL AND IT GETS NO BETTER THAN A FEAD. SO WHAT IS THE GOVT PAYING FOR ISNT THAT MORE THAN THE CAPTAINS MADE BEFORE THE CONTRACT. ADVERTISEMENT, WHO FLYS ATA THAT WOULD BE ON A FEAD I FLEW HIGH END CORPERATE NO ONE, I HOPE AT LEAST THE FRLIGHT CREWS GET A LITTLE TIME ON IT, JUSt A head up NEXT TIME YOU GO INTO NEGOTIATIONS

 

[Duke 6]

8 for 8 do they go one for one on the aircraft, just bashing mangement, no ATA pilot

 

[Race Pilot]

Starshipper - Roush Air is a part of Roush Racing, owned by Jack Roush from Michigan that owns Roush Engineering and many other endeavors. We fly mostly to airports near where the races are held although we do a good bit of Charter work for various sports teams, musical artists, etc. Mostly domestic but an occasional Caribbean or South America trip. Not sure where I'll be based yet with ATA although it looks like Indy initially but flying all over the world. Not too much use for the L-10s in Indy anymore. It's just our maintenance base.

irflyer and rican - I don't have anything official but the rumor is still that there may be a small 737 class in December and then several classes in early 03 to include mostly 737 and L10 but a few 757 as well. Good luck to you both.

Duke 6 - I don't understand the end of your first post or most of your last post but you're right about the Feadship, it's really nice. I've talked to a few guys who have been on it. All I can say is..........IT'S GOOD TO BE THE KING!!!!!!

 

[Duke 6]

I have no problem with making money, and maybe i'm jumping the gun here a little bit. I just Feel that if the KING is going to go to the federal government and ask for money the least they could due is hide the fact they are out sailing around on 40+ million private boat that cost more to operate an hour than one of your L 1011(maybe your whole fleet of L1011). I just really feel that their are a lot of people in management really taking advantage of this situation. And by the way I flew for a CART team and know what a FEAD ship is used for. I have also been in the NASCAR AIRFORCE say ROUSH RACING (aka Mark Martin #6) people are more likely to know who you worked for.

 

[P3tarbaby]

Just got back from the interview. We were told that there are 12 in the pool, possible December class but not sure what airplane or how many. They are interviewing 24 a week right now and the impression I got is that they want to hire everyone. We'll see in a week or two.

 

[Race Pilot]

Duke 6 - You definately have a point. Just wish I could have one of those ships of my own. Oh well, I can dream..............