-T / T / +T | Comment(s)

Monday, March 28, 2005

Quick Takes

  • Last Friday was the final deadline for bids to be submitted for Chicago Express. The judge supervising the bankruptcy of ATA Holdings [ATAHQ] - the parent of Chicago Express - set a schedule that goes beyond the scheduled March 28 closing of the regional carrier. If there are competing bids, an auction will be held on March 31 and a hearing would be held on April 1 to close the sale.

    A court-ordered financial examina-tion of Chicago Express determined that a minimum bid would need to be at least $1 million.

    A New York investment bank hired by ATA to market Chicago Express told the court that it has two "substantial" offers from two airlines for the carrier. There are eight other proposals in the discussion stage.

    NatTel, a Connecticut investment firm, has submitted the only known bid. It has offered $100,000 for the stock and debts of Chicago Express (RAN, March 14). With the judge's blessing, Chicago Express is paying $214,000 to retain key executives beyond the closing so the carrier can retain its federal operating certificate.

  • Fred L. deLeeuw, a financial advisor to Big Sky Airlines, was recently hired by the regional carrier as its new president. He previously held a senior position at Atlas Air, Vanguard Airlines, Northwest Airlines [NWAC], Continental Airlines [CAL] and People Express Airlines. Kim Champney had been the president.

    deLeeuw's major challenge will be the conversion of the Big Sky fleet from Metros to Beechcraft 1900Ds. Big Sky is a unit of MAIR Holdings [MAIR].

  • A leadership team was selected at the first meeting of the Community Air Service Coalition, a new group of airports, airlines and local governments focused on promoting commercial air service to small communities. Robert Bryant, the director of the Salisbury-Ocean City: Wicomico Regional Airport was elected as the group's chairman. Other board members include Robert Nicholas, manager of the Ithaca Tompkins Regional Airport, and Mark Courtney, director of the Lynchburg Regional Airport.
  • The Federal Aviation Administra-tion (FAA) has extended its rules reducing the number of peak arrivals at Chicago O'Hare International Airport until Oct. 29. The voluntary agreement that was crafted last fall by the airlines may be extended through April 2008.

    Under the plan, which was to have expired April 30, O'Hare is limited to 88 arrivals per hour between 7 a.m. and 8 p.m. The compromise schedule was reached to reduce the number of delayed flights at the airport (CRAN, Aug. 30, 2004).

    A FAA proposed rules stipulates that if the limitation is extended until 2008, then the agency will conduct a review every six month to determine the continued effectiveness of the traffic cap. If flight delays are reduced, the FAA said it may permit additional arrivals.

blog comments powered by Disqus