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Independance Air delisted

radarlove

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Joined
Mar 21, 2005
Posts
677
Total Time
years
Twenty cents a share today. Ouch. Their CFO quit too. Now the stock exchange has kicked them off.


Form 8-K/A for FLYI INC 24-Oct-2005
Notice of Delisting or Transfer, Change in Directors or Principal Officers

Item 3.01. Notice of Delisting or Failure To Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On October 21, 2005, the Company received a letter from The NASDAQ Stock Market, Inc. ("NASDAQ ") notifying the Company that for the 30 consecutive trading days preceding the date of the letter, the Company's common stock has not maintained the minimum aggregate market value of publicly held shares (MVPHS) of $15 million required for continued inclusion on the NASDAQ National Market pursuant to NASDAQ Marketplace Rule 4450(b)(e). The letter further notified the Company that, in accordance with NASDAQ Marketplace Rule 4450(e)(1), the Company will be provided 90 calendar days, or until January 19, 2006, to regain compliance with the MVPHS requirement. Compliance will be achieved if the MVPHS is $15 million or more for 10 consecutive trading days prior to January 19, 2006.
The letter from NASDAQ further stated that if the Company does not regain compliance with the Marketplace Rules by January 19, 2006, NASDAQ will provide notice that the Company's common stock will be delisted from the NASDAQ National Market. In the event of such notification, the Company would have an opportunity to appeal NASDAQ's determination. The letter also noted that the Company would have the opportunity to apply to transfer its common stock to the NASDAQ Capital (SmallCap) Market and that, if the Company submits a transfer application and pays the applicable listing fees by January 19, 2006, the intiation of delisting proceedings will be stayed pending NASDAQ staff review of the application.
As previously disclosed, the Company was informed by NASDAQ that the bid price of the Company's common stock had closed below the $1.00 per share minimum required for continued inclusion on the NASDAQ National Market pursuant to NASDAQ Marketplace Rule 4450(a)(5). That notice further stated that, in accordance with NASDAQ Marketplace Rule 4450(e)(2), the Company has been provided until November 23, 2005 to regain compliance with the minimum bid price requirement. At the Companys annual meeting, stockholders granted the Board of Directors discretion to amend the Companys certificate of incorporation to effect a reverse stock split, which authorization was sought so that a reverse stock split might enable the Company to regain compliance with the minimum bid price requirement. If and when the Board determines to implement a reverse split, the Company will at that time announce its intention, the effective date of the reverse split and the actual ratio to be applied.
More information on the risks of investing in the Companys common stock, including the consequences and risks associated with delisting of the Company's common stock from the NASDAQ National Market, can be found in the Company's Form 10-Q for the quarterly period ended June 30, 2005, which was filed with the Securities and Exchange Commission on August 9, 2005, and the Company's proxy statement on Schedule 14A, which was filed with the Securities and Exchange Commission on May 11, 2005.




Item 5.02. Departure of Directors or Principal Officers; Elections of Directors; Appointment of Principal Officers On October 7, 2005, FLYi, Inc. (the "Company") filed a Form 8-K to announce that David W. Asai had been named Chief Financial Officer of the Company. This Form 8-K/A is filed to report that on October 18, 2005, the Companys Compensation Committee approved an annual salary of $190,000 for Mr. Asai.
 

Rez O. Lewshun

Save the Profession
Joined
Jan 19, 2004
Posts
13,422
Total Time
X>X
Steve walks warily down the street,
With the brim pulled way down low
Ain't no sound but the sound of his feet,
Machine guns ready to go
Are you ready, Are you ready for this
Are you hanging on the edge of your seat
Out of the doorway the bullets rip
To the sound of the beat
Chorus

Another one bites the dust
Another one bites the dust
And another one gone, and another one gone
Another one bites the dust
Hey, I'm gonna get you too
Another one bites the dust

How do you think I'm going to get along,
Without you, when you're gone
You took me for everything that I had,
And kicked me out on my own

Are you happy, are you satisfied
How long can you stand the heat
Out of the doorway the bullets rip
To the sound of the beat
Chorus


Another one bites the dust
Another one bites the dust
Another one bites the dust
Another one bites the dust
There are plenty of ways you can hurt a man
And bring him to the ground
You can beat him
You can cheat him
You can treat him bad and leave him
When he's down
But I'm ready, yes I'm ready for you
I'm standing on my own two feet
Out of the doorway the bullets rip
Repeating the sound of the beat
 

enigma

good ol boy
Joined
Nov 26, 2001
Posts
2,279
Total Time
>1500
That's too bad. I bought a ticket and flew indy last week and the experience was pleasant. Good luck to ya'll at Indy.


enigma
 

Always deferred

Well-known member
Joined
Jun 5, 2003
Posts
175
Total Time
~3000
Rez O. Lewshun said:
Steve walks warily down the street,

Another one bites the dust
Another one bites the dust
And another one gone, and another one gone
Another one bites the dust
Hey, I'm gonna get you too
Another one bites the dust

Are you happy, are you satisfied
How long can you stand the heat
Out of the doorway the bullets rip
To the sound of the beat
Chorus

Rez-

On behalf of all of us at FLYi who have worked our asses off to get where we are, survive what we have survived, and continue to press on amidst the storm; on behalf of those of us who have lost our careers, and those who will; on behalf of those who's livelihoods are about to be smashed:

Thanks,

Thanks for your post. I sincerely hope you feel much better about yourself. I'm sure that deep down you were hoping for a response from someone on flightinfo about how funny you are and someone to validate your life for you.
So I will do it. Great job. You are such a great human being.

You win.
 

Ralph Cramden

Took the Red Pill
Joined
May 7, 2005
Posts
351
Total Time
2much
Radarlove: Please learn to spell. There is no a in INDEPENDENCE. Next, learn how to read: The quoted material is a notice that delisting criteria has been met and the process has started, not that the stock has been delisted.

Are we gonna make it? Admittedly the outlook is doubtful, but it is not from lack of trying on the employee's part.

Have a nice day.
 

Rez O. Lewshun

Save the Profession
Joined
Jan 19, 2004
Posts
13,422
Total Time
X>X
Always deferred said:
Rez-

On behalf of all of us at FLYi who have worked our asses off to get where we are, survive what we have survived, and continue to press on amidst the storm; on behalf of those of us who have lost our careers, and those who will; on behalf of those who's livelihoods are about to be smashed:

Thanks,

Thanks for your post. I sincerely hope you feel much better about yourself. I'm sure that deep down you were hoping for a response from someone on flightinfo about how funny you are and someone to validate your life for you.
So I will do it. Great job. You are such a great human being.

You win.
This must be your first BK carrier. Welcome to your Airline Career. See, some of us have already seen our own Indy Air come and go. Not once or twice but three times.... some more..... So while you are looking for sympathy we are still nursing our own old wounds too. Maybe we are cynical and you will be too.

Instead why don't you define yourself on your own accord instead of who you work[ed] for. Then you won't get so offended when someone pokes fun at the situation.

When one looks at the list of BK and failed airlines..did you really think Indy had a chance...?? [see list below] And that is my point... The Corp Elite over at business court never had the ability to make Indy a success. Indy isn't the only place to make money in this country... so pick yourself up, like we all have done and move on. Quit acting like a whiney Katrina victim and take care of yourself and your family. Your career can be salvaged..

And throwing The Corp Clowns under the bus with thier golden parachutes doesn't hurt either...

Braniff
Pan Am
Eastern
New York Air
Peoples Express
PSA
Kiwi
Vanguard
Midway I
Midway II
Transmeridian
USAIRways
UAL
TWA
Western Pacific
NWA
Delta
Frontier I
ATA
Hawaiian
Aloha
Comair
Mesaba

My brain hurts.... but there is more...anyone...??
 
Last edited:

FlyingSig

Double Breasted _ _ _
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Dec 1, 2001
Posts
560
Total Time
7000+
some more...

Can't take credit for this list...it comes from another forum I frequent where the same discussion was being held... anyway, heck of a industry we work in... RIP (yes, there are duplicates from your list)





Aaxico Airlines (1946 - 1976, to Trans International Airlines)
Access Air (1998 - 2001)
Aeromech Airlines (1951 - 1983, to Wright Airlines)
Air America (owned and operated by the CIA in SouthEast Asia)
Air America, 1980s charter airline, from Tucson, Arizona
Air Atlanta (1981 - 1988)
Airborne Express (1946 - 2003, to DHL)
Air California, later AirCal (1967 - 87, to American Airlines)
Air Chaparral (1980 - 82)
Air Florida (1972 - 84)
Air Indies (1972-1974)
Airlift International (1946 - 81)
Air Midwest (1965 - 91, to Mesa Airlines)
Air New England (1975 - 81)
Air Niagara
Air North (1963 - 83, to Brockway Air)
Air South (1968 - 75, to Florida Airlines; 1994-1997)
Allegheny Airlines (became US Airways)
American Overseas Airways
Arista International Airlines
Arizona Airways (1990s)
Aspen Airways (1962 - 90)
Atlantic Coast Airlines (1989 - 2004, to Independence Air)
Bar Harbor Airlines (1971-92)
Boeing Air Transport (1927 - 30)
Bonanza Air Lines (1945 - 1968)
Braniff International Airways (1928 - 82 and 1984 - 89)
Britt Airways
Business Express (1978-2000) (acquired by American Eagle)
Cape Smythe Air (1975 - 2005, to Frontier Flying Service)
Capital Airlines (1936 - 61, to United Airlines)
Capitol Air (1946 - 82)
Carnival Airlines
Cascade Airways (1969 - 86)
Catalina Airlines (1940 - 69)
Central Airlines (1944 - 67)
Challenge Air Cargo (1978 - 2001)
Chicago and Southern Airlines (1934 - 53)
Chicago Express (1993 - 2005)
Colgan Airways (1971 - 86, to Presidential Airlines, revived 1991)
Colonial Air Transport (1926 - 30)
Curtiss Flying Service (1929 - 32)
Eastern Airlines (1926 - 91)
Emerald Air (1978 - 91)
Emery Worldwide Airlines (1977 - 2003)
Empire Air (1975 - 84, to USAir)
Fine Air Services
Flying Tiger Line (1945 - 88, to Federal Express)
Freedom Airlines
Global International Airways (1981 - ?)
Golden West Airlines
Great Plains Airlines
Hughes Airwest (1968 - 80, to Republic Airlines)
Imperial Airlines (1964 - 82)
Key Airlines
Kiwi International Airlines
Lake Central Airlines (1949 - 68, to Allegheny Airlines)
Lakeland Airlines (1980 - 84)
Las Vegas Airlines (1973 - 87)
Legend Airlines (1996 - 2000)
Mackey Airlines (1957 - 81)
Maddux Airlines (1927 - 29)
Mall Airways (1973 - 89, to Business Express)
MarkAir (1947 - 95)
Marquette Airlines (to TWA)
MGM Grand
Mid Pacific Air (1981 - 1988)
Mid-State Airlines (1964 - ?, to Sentry Airlines)
Midway Airlines (1979 - 81 and 1993 - 2003)
Mississippi Valley Airlines (1969 - 85)
Modern Air Transport
Mohawk Airlines (1952 - 88, acquired by Allegheny Airlines)
Morris Air (1992-1993) (acquired by SWA)
Muse Air (1981-1985) (acquired by SWA and renamed TransStar (1987)
National Air Cargo
National Airlines (1929 - 80, to Pan Am; 1995 - 2002)
National Air Transport (1926 - 30)
New York Air (1980 - 86, to Continental Airlines)
New York Airways (1949 - 1979 helicopter carrier)
New York, Rio, and Buenos Aires Line (to Pan Am)
North Central Airlines (1953 - 79)
Northeast Airlines (1940 - 72,to Delta Air Lines)
Northeastern
Overseas National Airways (1950 - 1978)
Ozark Airlines (1943 - 86, to Trans World Airlines)
Pacific Air Transport (1926 - 27)
Pacific Alaska Airways (1973 - 86)
Pacific Southwest Airlines, PSA (1945 - 86, to USAir)
Pan American-Grace Airways, Panagra (1928 - 67, to Braniff)
Pan American World Airways (1927 - 91)
People Express (1981 - 87, to Continental Airlines)
Piedmont Airlines (1940 - 89, to USAir)
Planet Airways (????- June 8, 2005, speculation only at this point in time)
Presidential Airways (1985 - 87)
Pride Air
Pro Air (July 1997 - Sept 18, 2000)
PBA - Provincetown - Boston Airline
Ransome Airlines (1967 - 86)
Reeve Aleutian Airways (1932 - 2001)
Reno Air (1990 - 99, to American Airlines)
Republic Airlines (1979 - 86, to Northwest Airlines)
Rich International Airways (1971 - 96)
Robertson Air Service
Rocky Mountain Airways (1964 - 1978)
Royale Airlines
Saturn Airways (1960 - 76, to Axico Airlines)
Seaboard World Airlines (1946 - 80, to Flying Tiger Line)
Shuttle by United and United Shuttle (1994 - 2001)
Southeast Airlines(1992-2004)
Southeastern Commuter Airlines
Southern Airways (1943 - 79, to Republic Airlines)
Standard Airlines (1926 - 30)
Swift Aire Lines (1969 - 81)
TAT - Maddux Air Lines (1928 - 30)
Texas Air
Texas International Airlines, formerly Trans-Texas Airways (1944 - 86, to Continental)
Tower Air (1983 - 2000)
Transamerica Airlines (1948 - 86)
Transcontinental Air Transport (1928 - 30)
Trans Carribean
Trans International Airlines (1947 - 1986)
Trans Meridian Airlines
TranStar Airlines (1981 - 87) (formerly Muse Air)
Trans World Airlines (1930 - 2001, to American Airlines)
Trump Shuttle (1989 - 91, to US Airways)
ValuJet Airlines (to AirTran Airways, September 24, 1997)
Vanguard Airlines (1994 - 2002)
Western Airlines (1925 - 87, to Delta Air Lines)
Western Pacific Airlines (ceased operations 1998)
Wien Air Alaska
Wilmington - Catalina Air Line
 

CHIEEEEFS

Active member
Joined
Oct 20, 2002
Posts
35
Total Time
5000
Twa

"Trans World Airlines (1930 - 2001, to American Airlines)"

TWA's first flight was in 1925 ala:

"Western Airlines (1925 - 87, to Delta Air Lines)"

TAT and Western were merged after the spoils conference into T-C & W A.

The remains of the Western certificate formed Western Airlines that later merged with DELTA.

Ergo, TWA should be 1925-2001.

Thanks
 

habubuaza

Well-known member
Joined
Nov 28, 2001
Posts
355
Total Time
>1
Wow, that list is sobering.
 

AutoBus

Well-known member
Joined
Sep 18, 2004
Posts
295
Total Time
enough
FlyingSig said:
Can't take credit for this list...it comes from another forum I frequent where the same discussion was being held... anyway, heck of a industry we work in... RIP (yes, there are duplicates from your list)





Aaxico Airlines (1946 - 1976, to Trans International Airlines)
Access Air (1998 - 2001)
Aeromech Airlines (1951 - 1983, to Wright Airlines)
Air America (owned and operated by the CIA in SouthEast Asia)
Air America, 1980s charter airline, from Tucson, Arizona
Air Atlanta (1981 - 1988)
Airborne Express (1946 - 2003, to DHL)
Air California, later AirCal (1967 - 87, to American Airlines)
Air Chaparral (1980 - 82)
Air Florida (1972 - 84)
Air Indies (1972-1974)
Airlift International (1946 - 81)
Air Midwest (1965 - 91, to Mesa Airlines)
Air New England (1975 - 81)
Air Niagara
Air North (1963 - 83, to Brockway Air)
Air South (1968 - 75, to Florida Airlines; 1994-1997)
Allegheny Airlines (became US Airways)
American Overseas Airways
Arista International Airlines
Arizona Airways (1990s)
Aspen Airways (1962 - 90)
Atlantic Coast Airlines (1989 - 2004, to Independence Air)
Bar Harbor Airlines (1971-92)
Boeing Air Transport (1927 - 30)
Bonanza Air Lines (1945 - 1968)
Braniff International Airways (1928 - 82 and 1984 - 89)
Britt Airways
Business Express (1978-2000) (acquired by American Eagle)
Cape Smythe Air (1975 - 2005, to Frontier Flying Service)
Capital Airlines (1936 - 61, to United Airlines)
Capitol Air (1946 - 82)
Carnival Airlines
Cascade Airways (1969 - 86)
Catalina Airlines (1940 - 69)
Central Airlines (1944 - 67)
Challenge Air Cargo (1978 - 2001)
Chicago and Southern Airlines (1934 - 53)
Chicago Express (1993 - 2005)
Colgan Airways (1971 - 86, to Presidential Airlines, revived 1991)
Colonial Air Transport (1926 - 30)
Curtiss Flying Service (1929 - 32)
Eastern Airlines (1926 - 91)
Emerald Air (1978 - 91)
Emery Worldwide Airlines (1977 - 2003)
Empire Air (1975 - 84, to USAir)
Fine Air Services
Flying Tiger Line (1945 - 88, to Federal Express)
Freedom Airlines
Global International Airways (1981 - ?)
Golden West Airlines
Great Plains Airlines
Hughes Airwest (1968 - 80, to Republic Airlines)
Imperial Airlines (1964 - 82)
Key Airlines
Kiwi International Airlines
Lake Central Airlines (1949 - 68, to Allegheny Airlines)
Lakeland Airlines (1980 - 84)
Las Vegas Airlines (1973 - 87)
Legend Airlines (1996 - 2000)
Mackey Airlines (1957 - 81)
Maddux Airlines (1927 - 29)
Mall Airways (1973 - 89, to Business Express)
MarkAir (1947 - 95)
Marquette Airlines (to TWA)
MGM Grand
Mid Pacific Air (1981 - 1988)
Mid-State Airlines (1964 - ?, to Sentry Airlines)
Midway Airlines (1979 - 81 and 1993 - 2003)
Mississippi Valley Airlines (1969 - 85)
Modern Air Transport
Mohawk Airlines (1952 - 88, acquired by Allegheny Airlines)
Morris Air (1992-1993) (acquired by SWA)
Muse Air (1981-1985) (acquired by SWA and renamed TransStar (1987)
National Air Cargo
National Airlines (1929 - 80, to Pan Am; 1995 - 2002)
National Air Transport (1926 - 30)
New York Air (1980 - 86, to Continental Airlines)
New York Airways (1949 - 1979 helicopter carrier)
New York, Rio, and Buenos Aires Line (to Pan Am)
North Central Airlines (1953 - 79)
Northeast Airlines (1940 - 72,to Delta Air Lines)
Northeastern
Overseas National Airways (1950 - 1978)
Ozark Airlines (1943 - 86, to Trans World Airlines)
Pacific Air Transport (1926 - 27)
Pacific Alaska Airways (1973 - 86)
Pacific Southwest Airlines, PSA (1945 - 86, to USAir)
Pan American-Grace Airways, Panagra (1928 - 67, to Braniff)
Pan American World Airways (1927 - 91)
People Express (1981 - 87, to Continental Airlines)
Piedmont Airlines (1940 - 89, to USAir)
Planet Airways (????- June 8, 2005, speculation only at this point in time)
Presidential Airways (1985 - 87)
Pride Air
Pro Air (July 1997 - Sept 18, 2000)
PBA - Provincetown - Boston Airline
Ransome Airlines (1967 - 86)
Reeve Aleutian Airways (1932 - 2001)
Reno Air (1990 - 99, to American Airlines)
Republic Airlines (1979 - 86, to Northwest Airlines)
Rich International Airways (1971 - 96)
Robertson Air Service
Rocky Mountain Airways (1964 - 1978)
Royale Airlines
Saturn Airways (1960 - 76, to Axico Airlines)
Seaboard World Airlines (1946 - 80, to Flying Tiger Line)
Shuttle by United and United Shuttle (1994 - 2001)
Southeast Airlines(1992-2004)
Southeastern Commuter Airlines
Southern Airways (1943 - 79, to Republic Airlines)
Standard Airlines (1926 - 30)
Swift Aire Lines (1969 - 81)
TAT - Maddux Air Lines (1928 - 30)
Texas Air
Texas International Airlines, formerly Trans-Texas Airways (1944 - 86, to Continental)
Tower Air (1983 - 2000)
Transamerica Airlines (1948 - 86)
Transcontinental Air Transport (1928 - 30)
Trans Carribean
Trans International Airlines (1947 - 1986)
Trans Meridian Airlines
TranStar Airlines (1981 - 87) (formerly Muse Air)
Trans World Airlines (1930 - 2001, to American Airlines)
Trump Shuttle (1989 - 91, to US Airways)
ValuJet Airlines (to AirTran Airways, September 24, 1997)
Vanguard Airlines (1994 - 2002)
Western Airlines (1925 - 87, to Delta Air Lines)
Western Pacific Airlines (ceased operations 1998)
Wien Air Alaska
Wilmington - Catalina Air Line
Your forgot one..

US Airways ( to America West)
 

DIAMONDDD

Well-known member
Joined
Nov 28, 2001
Posts
463
Total Time
some
habubuaza said:
Wow, that list is sobering.
Actually, that list makes me want to drink.
 

Wiskey Driver

Return of the Hub Raider
Joined
Aug 31, 2002
Posts
1,308
Total Time
6500tt
AutoBus said:
Your forgot one..

US Airways ( to America West)

I like it AutoBus:beer:

WD.
 

LearLove

Well-known member
Joined
Nov 27, 2001
Posts
4,451
Total Time
12000+
The original Ransome did not go out of bizz. JD sold his outfit to Pan AM in 1987, his pilots got DOH, something JD made a part of the deal which he didn't have to do, a true pilots' pilot that you'd be hard pressed to find in this industry today.

The TWA (T-way Express) that came after did go out of bizz but JD Ransome was not part of that deal from what I know.
 

dlredline

Well-known member
Joined
Jan 15, 2003
Posts
310
Total Time
12000+
Here's one more . . .

Rio Airways: Based in Killeen, Texas. Feeder for Braniff and Delta at DFW went Chapter 7 back in 1987. They still owe me my last 2 paychecks, but I got to keep the David Clarks. :rolleyes:
 

AlbieF15

F15 Ret/FDX/InterviewPrep
Joined
Nov 25, 2001
Posts
1,764
Total Time
6000
Wonder what percentage of pilots at majors actually make 20 year retirement and collect their retirement checks? I'll bet if we researched that we wouldn't like the answers.

VIVA LA B FUND and 401K!
 

FlyBoeingJets

YES, that's NICE
Joined
Mar 20, 2003
Posts
1,802
Total Time
>5000
I'm not trying to kick anyone. Just trying to learn something....


When I've read about the backgrounds of those starting at UPS, CAL, JetBlue and SWA in the last year I've seen some interesting things. Some were currently employed by AWA, Frontier, Airtran, UAL, NWA and DAL. I've always been intrigued by the apparent habit of some to jump from job to job in the Airline biz. Its worked well for some but it has worked out poorly for those who left FedEx for AA, UAL, and DAL. It's got to be really tough to leave a company that may be doing o.k. and know you can never come back if the situation reverses. Very gutsy move, Mav. But then there are those at troubled carriers....

I know a couple of folks who were employed but quit a legacy to get a government job. Not even furloughed! But some of the people I know who are furloughed DAL, UAL and AA are stubbornly not applying to any other majors. I'd like to think it is some rational, intentional decision to wait and see until its wiser to move on, but the more I talk with them that is not the case. They are stubborn and avoiding a decision because its too painful to think about. Maybe they are embarassed they made a poor decision (in their eyes) and even more so that they waited this long. I tell them its not their fault and they need to look forward and not to the past. After all, FedEx is now interviewing furloughed dudes. A major departure from past policy.

I've seen some start at SWA in their late 40's and even their 50's. A hard decision and I can tell you no one thought they were lesser for doing so. To those of you having trouble making the decision, I wish you best. My advice, stay informed on the industry and keep the interview suit and resume up to date. It will keep you sharper.
 
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