Friday, Dec. 10, 2004 | 10:56 a.m.
Southwest Airlines Inc., the largest low-fare carriers, will bid more than $100 million for assets of ATA Holdings Inc., challenging an agreement between ATA and AirTran Airways Inc.
Southwest will submit its bid to the U.S. Bankruptcy Court in Indianapolis to acquire six Chicago Midway Airport gates leased by ATA, which sought Chapter 11 protection on Oct. 26. Adding the six gates raises Southwest's capacity by 32 percent, the airline said in a statement distributed by PR Newswire.
ATA is seeking court approval as soon as next week of an agreement to sell gate leases and assets to AirTran for $90 million. America West Holdings Corp. on Thursday said it decided not to bid for ATA's assets.
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