ATA Airlines, formerly known as American Trans Air was founded in Indianapolis by George Mikelsons in 1973. For 35 years they provided low-cost commercial airline flights, and served as a carrier for the U.S. military. ATA filed bankruptcy and ceased operations on April 3, 2008, blaming the bankruptcy on the loss of a major military contract.

When ATA filed for chapter 11 on April 2, 2007. It was the second time the company had done so, leading to what experts in the financial restructuring business call a "Chapter 22." While the price of fuel was partly to blame for ATA's bankruptcy, company official indicate that a terminated defense contract with FedEx was the chief cause of the financial implosion.

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• Jaunted: ATA Cancels All Flights, Declares Bankruptcy (April 3, 2008)

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