Southwest Taking ATA's Slots At LaGuardia

Southwest Airlines said Wednesday it will pay $7.5 million for bankrupt ATA Airlines' landing slots at New York City's LaGuardia Airport.

The deal would give Southwest 14 slots -- and its first entry into the Big Apple's airline market -- allowing seven takeoffs and seven landings a day at LaGuardia.

ATA Airlines filed for bankruptcy protection on April 2. Court documents show that the deal is dependent on approval by a U.S. bankruptcy court in Indianapolis, where ATA Airlines Inc. is based. If the deal goes through, Southwest could begin its service next year.

Dallas-based Southwest -- the nation's largest carrier as measured by the number of domestic passengers -- serves Islip Airport on Long Island but does not fly into LaGuardia, Kennedy or Newark, N.J., airports.

Southwest said the deal did not indicate any further interest in acquiring ATA assets, including aircraft, facilities or employees.