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For second time in the last two weeks, an airline shut down its operation, as ATA Airlines filed for Chapter 11 bankruptcy protection. Last week Aloha Airlines closed their business down.

ATA Airlines, which is based in Indianapolis, said the reason for their actions was the increasing costs of jet fuel, as well as the cancellation of a major military charter contract.

"Unfortunately, the cancellation of a critical agreement for our military charter business undermined ATA's plan to address the current conditions facing all scheduled service airlines, including the tremendous spike in the price of jet fuel in recent months," said ATA Chief Operating Officer Doug Yakola. "As a result, it became impossible for ATA to continue operating."

Global Aero Logistics is the parent company of ATA, which also owns World Airways, a significant player in military contracts.