Media Contact: Roxanne Butler
                                                                  (317) 282-2659
                                                      Roxanne.Butler@iflyata.com


 ATA Holdings Announces Appointments of Interim Chief Financial Officer
                         and Chief Commercial Officer

         Names Francis J. Conway as Interim Chief Financial Officer and
       Subodh Karnik as Senior Vice President and Chief Commercial Officer



INDIANAPOLIS,  June 2, 2005--ATA  Holdings Corp. (ATAHQ) announced today changes
in its  leadership  team with the naming of Francis J. Conway to the position of
Interim  Chief  Financial  Officer  (CFO).   Conway's  experience  working  with
financially  distressed  companies,  both from the perspective of an officer and
director,  as well as an advisor to such entities,  is in excess of 20 years and
involves dozens of transactions. With regard to his position at ATA, 47-year-old
Conway will serve as the CFO on a fully  dedicated  basis and will work  closely
with ATA's  leadership  team as the Company  continues its efforts to reorganize
its operations under the protection of the U.S. Bankruptcy Code.

Conway is a Managing Director with Navigant Capital Advisors, LLC, the dedicated
corporate finance advisory business of Navigant Consulting,  Inc.  ("Navigant").
Navigant is a specialized,  independent  consulting firm that provides  advisory
services to a broad  constituency of clients  throughout the U.S. and abroad. At
Navigant,   Conway  leads  the  firm's  restructuring  practice.  Conway  brings
significant  aviation  industry  experience to this role,  including  serving as
financial advisor to scheduled  carriers as well as an officer and director with
several  aircraft leasing  entities.  Conway has been appointed as an officer of
ATA Holdings by its Board of  Directors,  and a retention  motion has been filed
with the U.S. Bankruptcy Court.

Prior to assuming  his role at  Navigant  in late 2004,  Conway was a Partner at
Deloitte & Touche  where he served as National  Managing  Partner for Deloitte &
Touche's Reorganization Services Group. Prior leadership roles included Managing
Director and Regional  Practice Leader of the Corporate  Recovery Group of KPMG,
and First  Vice  President  at Lehman  Brothers,  where  Conway  specialized  in


workouts and restructurings involving equity investments made by Lehman clients,
as well as the financial  restructuring of certain merchant banking  investments
made by Lehman and  predecessor  firms.  ATA's new CFO  graduated  from New York
University with a Bachelor of Science Degree in Accounting and Management and is
a Certified Public Accountant.

Conway  replaces ATA's CFO,  Gilbert Viets,  who will remain with the Company as
Assistant to the Chairman and as a member of the Board of Directors.  Viets will
work on several projects,  including the sale of the Company's subsidiary travel
club, Ambassadair.

George Mikelsons, CEO of ATA Holdings Corp., said, "We thank Gil for his
tireless efforts during the past months and for leading ATA's reorganization to
this point. We welcome Frank to the ATA leadership team as we pursue a
sustainable restructuring of our operations and financial affairs, allowing the
Company to ultimately emerge from bankruptcy protection."

ATA also announced the appointment of Subodh Karnik to Senior Vice President and
Chief Commercial Officer (CCO). He will oversee all  revenue-related  functions,
including  sales,  marketing,  market  planning,  pricing,  revenue  management,
e-commerce and distribution.

"Subodh brings a wealth of airline experience to ATA," said John Denison, CEO of
ATA Airlines.  "We are counting on Subodh to help ATA return to profitability in
the not too  distant  future.  Our  Company  is  fortunate  to have been able to
attract Subodh to become a member of the leadership team."

Karnik has 15 years of airline industry  experience.  His career includes a wide
range of  leadership  positions  at three major  carriers,  including  Delta Air
Lines,  where he was Senior Vice  President  of Marketing  Planning  after first
serving as Vice President, Finance for Corporate Development, Fleet Planning and
International;  Continental  Airlines,  where he was  Staff  Vice  President  of
International Finance, CFO of subsidiary Continental Micronesia and board member
of COPA  Airlines;  and Northwest  Airlines,  where he had  responsibilities  in
alliances, international sales, revenue management and strategic planning.

Karnik is a native of Mumbai,  India and graduated  from the Birla  Institute of
Technology and Science and the University of Michigan Ross School of Business.



ATA also announces a new Managing  Director of Market Planning with the addition
of Mark Suman.  Suman was the co-founder of Las  Vegas-based  National  Airlines
where he served as Senior Vice  President of Strategic  Planning and oversaw all
aspects of passenger revenue generation.

"We welcome Mark Suman's  market  planning  expertise  and ability to profitably
allocate aircraft across the ATA network," said Stan Hula, ATA's Vice President,
Planning.

Suman's  experience  includes the  successful  implementation  of America West's
codeshare  with  Continental  Airlines  while he was Senior  Director  of Market
Planning for America West. Prior to his airline career, Suman was Vice President
of Kurth & Co, Inc. and a transportation analyst for the Civil Aeronautics Board
prior to  deregulation  of the airline  industry.  He graduated from  Wittenberg
University with Bachelor Degrees in economics and political science.

ATA Airlines,  now in its 32nd year of operation,  offers  dependable,  easy and
affordable  travel to 30  destinations.  ATA serves major  business  centers and
popular leisure  destinations,  including Hawaii.  For more  information,  visit
ata.com.


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