1. January 28th, 2003 Kelley School of Business Presentation ATA Holdings Corp. Doug Doster Strategic Planner

2. Northwest’s Non-Stop North American Routes

4. Legacy Hub and Spoke Carriers Next Generation Low Fare Carriers

5. American Trans Air 5 Q3 2002 Major Airline Unit Cost (Cents per Available Seat Mile) Cost Advantage Allows ATA To Offer Lower Fares Yr/Yr Change (2%) (5%) (11%) (5%) (2%) (1%) (2%) (6%) (3%) (10%) ATA’s CASM is one fifth lower than the average CASM of the top 9 major airlines CASM (cents) Rates exclude special charges

6. American Trans Air 6 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 9/19/02 U.S. Fleet and Capacity Update Average Aircraft Age

7. American Trans Air 7 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 receives approval for and funds $165 M government guaranteed loan 2002ATA begins its 30 th year of operations

8. American Trans Air 8 ATA Company Profile 30 Years in Business -Operating Profits in all but 3 years 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) B737-800, (12) B757- 300 aircraft and (1) B757-200 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 -$1.3B in Revenue in 2002

9. American Trans Air 9 2002 Airline Capacity ATA’s Revenue Sources ATA’s revenue diversity has benefited its performance since the 9/11 terrorist attacks Military Hawaii Indianapolis Charter Chicago- Midway Scheduled Service Other

10. American Trans Air 10 5 Year Passenger Growth Scheduled Service Growth Leads Industry Majors ATA leads the majors in scheduled service passenger growth for the past 5 years Enplaned Passengers – 2002 (12 Months ended June) versus 1997 (12 Months ended June) Source: Form 41

11. American Trans Air 11 ATA is the #1 Carrier in Chicago-Midway Note: Chicago-Midway market share based on September 2002 enplanements

12. American Trans Air 12 ATA is the #1 Carrier in Indianapolis Note: Indianapolis market share based on September 2002 enplanements

13. American Trans Air 13 An Honestly Different Airline Simplified Fee Structure - Administrative / change fee reduced to $50 - Reaffirm current standby policy allowing same day travel at no charge - Reaffirm a policy that maintains ticket value when not used - Reaffirm no advance purchase, no minimum stay requirements - Top domestic fares capped at $299 each way New ad campaign emphasizing customer value Announced loyalty / frequent flyer program (September 30, 2002) - Builds customer loyalty / repeat customers - Creates no liability beyond 11/30/04 when current program expires (Other programs continually build liability until miles are used) - Drives consumers to internet - the most cost-efficient form of distribution

14. American Trans Air 14 ATSB Loan Provides Liquidity $168M loan guaranteed by the Air Transportation Stabilization Board Approved in September 2002, funded in November Out of the approximately 15 airlines that applied for federally guaranteed loans, ATA is one of only three airlines to close an ATSB loan Collateralized by aircraft, aviation parts, general equipment, and receivables Six year term, amortizes after 12 months

15. American Trans Air 15 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

16. American Trans Air 16 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

17. American Trans Air 17 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

18. American Trans Air 18 ATA Kelley School of Business Alumni Ken WolffCFO and Executive Vice President Jack SchultzDirector, Accounting Sean FrickDirector, Strategic Planning Brian WilsonSenior Operations Analyst Doug DosterStrategic Planner Peter TamulonisOperations Analyst Ryan PoeppelmanFinancial Analyst

19. American Trans Air 19 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

20. AMERICAN TRANS AIR