Just heard a believable rumor. ATA stopped hiring pilots due to a merger with North American airlines.
Has anyone heard this too?
Has anyone heard this too?
Ata To Buy North American Airlines
- Thread starter Legacy
- Start date
Not likely to happen. ATA doesn't have the $ to buy anybody and North American has absolutely no value to any buyer. They are in debt and not profitable. Their last attempt to sell went nowhere.
HPearlyretiree
Veteran
- Nov 6, 2002
- 1,881
- 1,614
Not much of a merger, NA has what, 2 757's and one or two 737-800's?
Would be a pity, NA has always been a fun little oddity, a moneymaking airline that no one has ever heard of, and the planes are rarely seen.
Would be a pity, NA has always been a fun little oddity, a moneymaking airline that no one has ever heard of, and the planes are rarely seen.
- Thread Starter
- #4
After further review, I doubt this merger will happen but some on this board are under the wrong impression of NAA. They have 6 757s and 3 767. They no longer fly the 737 or MD80. They are very profitable. It's hard to tell if they have too much debt because they are privately owned by one person. They have issued pretty decent profit sharing checks every quarter for the past 8 years.
Who knows what the future is for NAA but, there are no problems there right now. They fly their planes like crazy and are taking delivery of a new 767 in March. Their government contrats are very profitable and the owner of NAA has huge government ties. NAA flys the White house press corps and flew Bush during his campaign. Rumors are they will fly Kerry.
No, I don't work for NAA. I have a few well placed freinds that do.
Who knows what the future is for NAA but, there are no problems there right now. They fly their planes like crazy and are taking delivery of a new 767 in March. Their government contrats are very profitable and the owner of NAA has huge government ties. NAA flys the White house press corps and flew Bush during his campaign. Rumors are they will fly Kerry.
No, I don't work for NAA. I have a few well placed freinds that do.
ATA just had to get their debt financing reworked so as not to file Chapter 11, so I don't see them stepping up to the plate and buy anyone right now. And if NAA is really profitable, then the price would be steep to acquire so little. Just my 2 cents out loud.....
B) As per my sources at North American, the company is very profitable. In fact it's been in the black every quarter since its inception in 1989. They do some pretty bizzar flying to some really remote places. The owner is well conected to Washington and has flown refugees out of Kosovo, pulled MIA body remains out of Vietnam/Laos, to flying U.S. Treasury officials throughout Africa and the Middle East. Just about everything is international and that's why their aircraft are hardly seen in the USA. Most of their flying is big military/Gov contracts. North American has now begun some civilian charter flights out of the West Coast/Alaska to Hawaii. The owner is getting pretty old and wants to get out of the business, but the company remains very cash positive.
Similar threads
