Manufacturing Industry
Independence Air expected to be next US airline to seek protection - or liquidation
Airline Industry Information, Sept 21, 2005
AIRLINE INDUSTRY INFORMATION-(C)1997-2005 M2 COMMUNICATIONS LTD
Independence Air is expected to be the next US airline to seek bankruptcy protection.
The airline, which is based in Virginia, launched about 16 months ago and offered fares starting from USD29. Analysts expect the airline to either file for protection under Chapter 11 or seek liquidation under Chapter 7, The Detroit News reported.
The airline operates five daily return flights between Detroit Metro Airport and Washington's Dulles International Airport. It reportedly never achieved its original growth targets and has cut flights out of Detroit.
((Comments on this story may be sent to aii.feedback@m2.com))
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