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.