Entries tagged "ATA"
The deal provides an exit for Adams Street Partners, New Enterprise Associates, ATA Ventures and EXA Ventures.
The round was supplied by ATA Ventures, Menlo Ventures, Performance Equity Management and Scorpion Capital Partners.
It seems we've hit the latest wave of airline bankruptcies, driven by sky-high oil prices and an economic downturn. April was particularly dark and May was cloudy, but June will see at least one sunny day. U.K. all-business-class carrier Silverjet plc, which was grounded at the end of May and filed for administration after backer Viceroy Holdings failed to extend a $5 million loan, has, it seems, been rescued. Swiss investment company Heritage Cie. SA agreed June 11 to buy it out of bankruptcy for undisclosed terms. ...
Could ATA Airlines Inc.'s Chapter 11 filing late Wednesday portend a second round of bankruptcies for other airlines? The immediate future certainly doesn't look good. Record-breaking fuel costs are already hurting the industry, and the only things keeping the really big carriers from a crash landing is their huge cash hoards and the surprisingly resilient demand for seats. But how long can both last?...
Thursday's shutdown of ATA Airlines Inc. offers a chance to look back on the carrier's last trip through bankruptcy protection, and how both the airline and the domestic industry might be different today if other choices had been made back then....
Record oil prices are creating additional stress in the airline industry and may lead to different consolidation scenarios, according to Credit Suisse Group analyst Daniel McKenzie. Higher fuel prices will mean fewer lower fares, which McKenzie in a Tuesday note said will make it harder for discounters like Southwest Airlines Co. and AirTran Airways Inc. to win market share. Those airlines instead could look to combine for the sake of scale....
