Quick Hits: ATA Goes Bankrupt. Again.
Brief scrutiny of today's headlines
The company's yo-yo relationship with the courts started in October 2004, when it crumbled under the weight of mounting debt. ATA emerged after 16 months of restructuring, only to make another successful run at bankruptcy two years later.
Cancellations have stranded scores of ATA passengers, who are now becoming friendly with passengers waiting for United (UAL), Southwest (LUV) and Delta (DAL) to get around to inspecting their fleets. Bankruptcy may not be a welcome option for most companies, but it's the ultimate cost cutting strategy.
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