FLYi has $66M in unrestricted cash, after losing $91M

[lowecur]

This quarter is probably the swan song for Indepedence Air. They are in talks with investors, but I really don't see anyone throwing money at them. Their demise should help the other carriers, but alas it will not save DL from 11.

http://www.thestreet.com/_yahoo/markets/rosssnel/10237345.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA

 

[labbats]

If I had a nickel for every time someone posted that an airline was done, I'd be retired.

 

[FutureTEDpilot]

Good luck to all my fellow Blueridge friends...I hope it works out for you!

 

[airlinepilot]

Anyone at IFLy

Sounds like they are spending about 1 Mil each day they operate. How may RJ's and 319 do they have? Have many Pilots? Has there been any mention or more furloughs?

 

[zkmayo]

Actually, it was $98.5 million they lost, but at that point that's just rubbing salt in the wound.

At ACA's peak, they had 1620 pilots. Now somewhere around 750-800 with around 150 of the missing on mil rsv and voluntarily furloughs. the rest were furloughed outright. A large # were demoted to FO due to downsizing.

currently have 12 A319s and 58 CRJs. Prob going to lose 8 more CRJs to GE in Sept. Future 319 deliveries have been deferred due to $.

I am extremely fortunate to have moved on to greener pastures. I wish everyone there the best of luck.

 

[aa73]

ZK- are you from New Zealand by chance?

Good luck to the Blue Ridge...

73, former Blueridger

 

[Jim Smyth]

Doesnt surprise me a bit. From all the newspaper articles you read they have been selling seats for under cost. This not only hurts them but all the other airlines in the markets they compete in. I feel sorry for the employees since I have been there and done that but a shake out is underway!

 

[Rez O. Lewshun]

I recall Indy Air telling us how ...if UAL would pay thier passengers $20 not to fly UAL they wouldn't lose as much money...

 

[zkmayo]

aa73,

No, im not from NZ, but I believe we have a mutual friend, MP, who is and is former ACA too. He's now at Capital Cargo.

 

[Propblast]

This quarter is probably the swan song for Indepedence Air. They are in talks with investors, but I really don't see anyone throwing money at them. Their demise should help the other carriers, but alas it will not save DL from 11.

http://www.thestreet.com/_yahoo/markets/rosssnel/10237345.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA

DH represents only .6% of all domestic lift. The demise of the company won't even be noticed in the industry.

Have a nice day,

PB