Exhibit 10.16

                                  SUMMARY SHEET
                                       OF
                                2005 COMPENSATION

Director Compensation

Directors   and  committee   chairs  who  are  employees   receive  no  separate
compensation  for  Board  service.   Non-employee  directors  will  receive  the
following for their service on the Board in 2005:

o    An annual retainer of $26,000 for serving on the Board.

o    An annual fee for  serving as Chairman  of a  Committee.  These fees are as
     follows:  $5,000 Audit Committee Chairman;  $3,000  Compensation  Committee
     Chairman;   and  $2,500  Corporate   Governance  and  Nominating  Committee
     Chairman.

o    A fee of $2,500 for each Board of Directors meeting attended in person.

o    A fee of $1,000 for each Committee meeting attended in person.  The Company
     also  pays its  non-employee  directors  if they  participate  in Board and
     Committee meetings by telephone.

In addition, all directors receive lifetime flight benefits,  comprised of space
available personal and family flight passes and/or positive space travel by the
director and the director's family.

Named Executive Officers

The executive  officers of the Company  serve at the  discretion of the Board of
Directors.  From  time to  time,  the  Compensation  Committee  of the  Board of
Directors  reviews and  determines  the salaries  that are paid to the Company's
executive  officers.  The  following  are  the  current  base  salaries  for the
Company's  Chief  Executive  Officer and its other four most highly  compensated
executive officers (the "Named Executive Officers"):


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J. George Mikelsons                                     $619,125
Chairman and Chief Executive Officer of ATA
Holdings Corp.
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James W. Hlavacek                                       $315,000
Vice Chairman
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Gilbert Viets, Executive Vice President                 $315,000
And Chief Financial Officer
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John G. Denison, Chief Executive Officer of ATA         $315,000
Airlines Inc.
------------------------------------------------------- ------------------------
John Graber, Senior Vice President of Flight            $238,500
Operations and Maintenance
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Some  of the  Named  Executive  Officers  are  eligible  to  participate  in the
Company's 1996 Key Incentive  Stock Plan for Employees (the "1996 Plan") and the
2000  Incentive  Stock Plan for Key Employees  (the "2000 Plan").  A copy of the
1996 plan is filed as an exhibit to the Company's Registration Statement on Form
S-8 dated June 1997 (File No. 333-29715) and a copy of the 2000 Plan is filed as
Exhibit A to  Amtran,  Inc.s'  Proxy  Statement  dated  April 5, 2004  (File No.
000-21642).

The Company also entered in to an employment  agreement  with John Denison.  The
agreement provides for payment of the sum of $25,000 for the period from January
20,  2005 (the date Mr.  Denison's  employment  with the Company  commenced)  to
February  20,  2005 and a  beginning  salary,  commencing  February  21, 2005 of
$315,000  per  year.  Mr.  Denison  is  also  eligible  to be  considered  for a
discretionary  bonus  upon  the  occurrence  of  certain  events.  A copy of Mr.
Denison's employment agreement is filed as Exhibit 10.1 to the Company's Current
Report on Form 8-K dated March 7, 2005.

The Company also provides  matching  contributions  to the accounts of the Named
Executive Officers under its 401(k) Plan.