News Release



AirTran Airways Announces Definitive Agreement with ATA Airlines 

    ORLANDO, Fla., Nov. 16 /PRNewswire-FirstCall/ -- AirTran Airways, a
subsidiary of AirTran Holdings, Inc. (NYSE: AAI), announced today that the
airline has entered into a definitive agreement with ATA Holdings Corp.
(OTC Bulletin Board: ATAH.PK) to assume the operation of 14 gates at Chicago's
Midway Airport. The agreement also provides that AirTran Airways and ATA will
enter into a code share and marketing agreement covering operations from
Midway as well as other points on each airline's network. The parties expect
the closing will occur on or before December 23, 2004.  ATA Holdings and its
subsidiary, ATA Airlines, are currently operating as debtors-in-possession in
Chapter 11 cases pending in Indianapolis.
    The purchase price is $89,955,000, subject to adjustment.  The purchase
price will be paid in installments. ATA has agreed to maintain its current
flight service levels at Midway Airport until January 11, 2005, and, subject
to certain contingencies, to make available to AirTran Airways up to twelve of
ATA's 737-800 aircraft on a "wet lease" basis for varying periods of time
through approximately June 4, 2005.
    In addition, AirTran Airways will assume responsibility for certain
passenger tickets previously sold by ATA for air travel to or from Midway
Airport.
    The closing is subject to a number of conditions, including approvals by
the Bankruptcy Court and the City of Chicago.  The agreement provides for the
payment to AirTran Airways of a termination fee if it is terminated under
certain circumstances, including, among others, the transfer of one or more of
the assets and leases related to ATA's Midway operations to a third party or
the sale or merger of ATA with a third party.

    AirTran Airways is one of America's largest low-fare airlines -- with
6,000 friendly, professional Crew Members and operating over 500 flights a day
to more than 40 destinations. The airline's hub is at Hartsfield-Jackson
Atlanta International Airport, the world's busiest airport by passenger
volume, where it is the second largest carrier. AirTran Airways, a subsidiary
of AirTran Holdings (NYSE: AAI), is the world's largest operator of the Boeing
717 and has America's youngest all-Boeing fleet. The airline recently added
the Boeing 737-700 aircraft, one of the most fuel efficient and
environmentally friendly aircraft flying today, to its fleet and looks to
begin outfitting its planes with XM Satellite Radio this fall.  For
reservations or more information, visit http://www.airtran.com (America Online
Keyword: AirTran).

    Editor's note: Statements regarding the Company's operational and
financial success, business model, expectation about future success, improved
operational performance and our ability to maintain or improve our low costs
are forward-looking statements and are not historical facts. Instead, they are
estimates or projections involving numerous risks or uncertainties, including
but not limited to, consumer demand and acceptance of services offered by the
Company, the Company's ability to maintain current cost levels, fare levels
and actions by competitors, regulatory matters and general economic
conditions. Additional information concerning factors that could cause actual
results to differ materially from those in the forward-looking statements is
contained from time to time in the Company's SEC filings, including but not
limited to the Company's annual report on Form 10-K for the year ended
December 31, 2003. The Company disclaims any obligation or duty to update or
correct any of its forward-looking statements.

     Media Contact:  Tad Hutcheson
                     tad.hutcheson@airtran.com
                     678.254.7442

                     Judy Graham-Weaver
                     judy.graham-weaver@airtran.com
                     678.254.7448

SOURCE  AirTran Airways

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