November 09, 2005

On Monday, FLYi Inc., the corporate parent of low-cost carrier Independence Air, declared Chapter 11 bankruptcy. Independence Air, which launched 18 months ago, says it will continue its flight schedules and honor all reservations. "A court-supervised restructuring will allow us to complete our cost-savings initiatives while seeking outside investors or purchasers, and represents the best solution for Independence Air, our customers, employees, creditors and the communities we serve," said Kerry Skeen, chairman and CEO of FLYi Inc.