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                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

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                                    FORM 8-K

                                 CURRENT REPORT

                       Pursuant to Section 13 or 15 (d) of
                       The Securities Exchange Act of 1934


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       Date of Report (Date of earliest event reported): November 20, 2002

                               ATA Holdings Corp.
             (Exact name of registrant as specified in its charter)

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       Indiana                          000-21642              35-1617970
(State or other jurisdiction     Commission File Number)    (I.R.S. Employer
   of incorporation)                                      Identification Number)


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                           7337 West Washington Street
                              Indianapolis, Indiana
                                      46231
               (Address of principal executive offices) (zip code)

       Registrant's telephone number, including area code: (317) 247-4000

                                       N/A
          (Former name or former address, if changes since last report)

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ITEM 5. OTHER EVENTS

Attached  hereto,  and  incorporated  herein by  reference in its  entirety,  as
Exhibit 99.1 is a copy of a press release  announcing  ATA closed a $168 million
term  loan,  which  included a $148.5  million  federal  guarantee  from the Air
Transportation Stabilization Board.

ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS

(C) Exhibits.

99.1 Press Release dated November 20, 2002.

ITEM 9. REGULATION FD DISCLOSURE

The  following  press  release  contains   forward-looking   information.   Such
forward-looking  information  is based upon  management's  current  knowledge of
factors  affecting  the  Company's  business.  Where the  Company  expresses  an
expectation or belief as to future results in any  forward-looking  information,
such expectations or belief is expressed in good faith and is believed to have a
reasonable  basis. The differences  between expected outcomes and actual results
can be material, depending upon circumstances.



                                   SIGNATURES

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.

                                          ATA Holdings Corp.

Date: November 20, 2002                   By: /s/ Kenneth K. Wolff

                                          Name: Kenneth K. Wolff
                                          Title: Executive Vice President & CFO







                                  EXHIBIT INDEX

Exhibit No.                Description of the Exhibit

99.1                       Press Release dated November 20, 2002



                        ATA Closes $168 Million Term Loan

INDIANAPOLIS,  November 20, 2002 - ATA (American Trans Air, Inc.), the principal
subsidiary of ATA Holdings Corp.  (Nasdaq:  ATAH),  today  announced that it has
finalized  the  loan   requirements   established  by  the  Air   Transportation
Stabilization Board (ATSB) for a $148.5 million federal guarantee. The full loan
for $168  million was funded  today.  ATA will use the loan  proceeds to provide
liquidity during the continuing  economic  downturn in the airline industry that
evolved after the terrorist attacks on September 11, 2001.

"We want to thank  the ATSB for their  hard work in  closing  this  loan,"  said
George Mikelsons, Chairman and CEO.

On September 26, the ATSB gave ATA conditional approval for the loan. As part of
the loan, ATA Holdings Corp. issued warrants on its common stock that will grant
the lenders an equity stake of approximately 12 percent.

Now  celebrating  its 30th year of  operation,  ATA is the nation's 10th largest
passenger  carrier based on revenue  passenger miles.  ATA operates  significant
scheduled service from  Chicago-Midway  and Indianapolis to over 40 business and
vacation  destinations.  To learn more about the  Company,  visit the website at
www.ata.com.

Caution  Concerning  Forward-Looking  Statements:  This  communication  contains
certain "forward-looking statements". These statements are based on ATA Holdings
Corp. management's current expectations and are naturally subject to uncertainty
and  changes in  circumstances.  Actual  results  may vary  materially  from the
expectations  contained herein. More detailed information about those factors is
set forth in filings  made by ATA  Holdings  Corp.  with the SEC.  Except to the
extent  required  under the federal  securities  laws, ATA Holdings Corp. is not
under any obligation to (and expressly  disclaims any such obligation to) update
or alter its forward-looking  statements whether as a result of new information,
future events or otherwise.


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