September 12th, 2002 Kelley School of Business Presentation ATA Holdings Corp. Sean Frick Manager, Strategic Planning

Northwest’s Non-Stop North American Routes

Legacy Hub and Spoke Carriers Next Generation Low Fare Carriers

American Trans Air 5 Q Major Airline Unit Cost (Cents per Available Seat Mile) Cost Advantage Allows ATA To Offer Lower Fares Yr/Yr Change (12%) (5%) 11% (3%) 1% 0% (1%) 8% ATA’s CASM is one third lower than the average CASM of the top 9 major airlines CASM (cents) * Excludes the operations of tour operator subsidiary

American Trans Air 6 Scheduled Service Performance vs. Major Airlines (Q vs. Q1 2001) ATA Outperforms Industry In Downturn Source: Company Press Releases Note: Table shows scheduled service only when information is available.

American Trans Air 7 Industry Fleet Age Rapid Fleet Modernization will Improve Cost Structure ATA’s fleet was one of the oldest in the industry With the new aircraft order, ATA’s fleet is becoming the most modern in the industry Note: Assumes other carriers add/subtract aircraft at a rate that maintains fleet age Source: Deutsche Bank Alex. Brown 2/4/02 U.S. Fleet and Capacity Update Average Aircraft Age

American Trans Air 8 History of ATA 1973J. George Mikelsons founds Ambassadair Travel Club in Indianapolis 1978Deregulation of U.S. Airlines 1981ATA begins Charter service, total revenues of $30.5M 1986ATA begins Scheduled service, total revenues of $185M 1993ATA completes initial public offering on the NASDAQ 1999Revenues exceed $1.1B, making ATA the 11 th US major airline 2000ATA completes transaction for 50 new fully financed aircraft 2001ATA begins successfully implementing new fleet and opens new Midway Terminal 2002ATA opens new international terminal in Midway

American Trans Air 9 ATA Company Profile 29 Years in Business -27 Years of Operating Profits Leading Market Share in Scheduled and Charter Service -# 1 Airline at Chicago Midway and Indianapolis (Passengers) -# 1 US Charter Airline (Revenue) -# 1 Military Passenger Airline (Tied on Revenue) Re-fleeting to new aircraft with order for (40) B , (12) B aircraft and (1) B aircraft -Youngest schedule service fleet of any major airline Affordable Fare and Low-Cost Business Strategy Top Tier Financial Performance 10 th Largest Major Airline in the US -Estimated $1.4B in Revenue in 2002

American Trans Air Airline Capacity ATA’s Revenue Sources Military Hawaii Indianapolis Other Charter Chicago Midway Scheduled Service ATA’s revenue diversity has benefited its performance since the 9/11 terrorist attacks

American Trans Air 11 5 Year Passenger Growth Scheduled Service Growth Leads Industry Majors ATA leads the majors in scheduled service passenger growth for the past 5 years Source: Form 41 data Enplaned Passengers – 2001 (12 Months ended September) versus 1996 (12 Months ended September)

American Trans Air 12 ATA is the #1 Carrier in Chicago-Midway and Indianapolis

American Trans Air 13 Curbside check-in E-ticketing self service check-in Online boarding pass print-out capability Electronic Gate Readers Advanced Seat Assignment Comfortable leather seating 32” seat pitch vs. 30” on % increased capacity in new overhead bin design 100% fresh air circulation (B ) Quiet in-cabin experience Low cost brand-name hot catering introduced on longer flights Improved quality of in-flight entertainment – PAVE program to show targeted short spots based on aircraft routing – Recent full-length movies on longer flights updated monthly ATA’s Scheduled Service Product

American Trans Air 14 Strategic Planning - Function as special projects / internal consulting group -Opportunity to work with other departments - Direct Exposure to upper- level management on critical projects - Team Oriented Strategic Planning Profile Proforma Financials FINANCE Process Diagrams, Labor Negotiations OPERATIONS Market Analysis MARKETING Presentations, Financial Releases, Industry Comparisons INVESTOR RELATIONS

American Trans Air 15 Strategic Planning Process Research Internet Libraries Proprietary databases Trade press SEC information Analysis/ Modeling Economic modeling Regression Risk Adjustment Excel Access Understanding Group sessions Brainstorming Hypothesis testing Communication Simplify Encapsulate Present

American Trans Air 16 Career Path Vice President Director Strategic Planner Staff Clerical Operations Management – Maintenance – Flight Operations – Airport Services – Customer Services Manager MBA / Law School Staff Management – Strategic Planning – Finance – Marketing – IS – Tour Operator or Sr. Strategic Planner Financial Analyst

American Trans Air 17 ATA Kelley School of Business Alumni Ken WolffCFO and Executive Vice President Chet FullerVice President, Flight Operations Productivity and Analysis Jack SchultzDirector, Accounting Sean FrickManager, Strategic Planning Brian WilsonSenior Operations Analyst Doug DosterStrategic Planner Peter TamulonisOperations Analyst Ryan PoeppelmanFinancial Analyst

American Trans Air 18 ATA’s “Five” Year Business Plan InputOutput Uses Detailed Financial Statements (Income Statement, Balance Sheet, Statement of Cash Flows, etc.) Detailed Operating Statistics (Departures, Passengers, Seat Miles, etc.) Meaningful Metrics and Ratios (RASM, CASM, EBITDAR, Debt to Equity, etc.) Special Projects (Aircraft Acquisition Deal, Privatization, Government Loan Application) Supporting the Management Decision Making Process (Asset Allocation, Cost Control, Liquidity Analysis) Debt covenants Valuable source for historical information Begin with aircraft Historical unit utilization, revenue, and expenses applied to create income statement Income statement flows into balance sheet and cash flow statements Adjust for unique transactions and management input Creation Developed according to GAAP Regression Analysis performed to determine cost and balance sheet drivers Historical data from 1997 to present input into model and updated monthly Formatting and printing macros

AMERICAN TRANS AIR