Flyi Reports September Traffic
- Thread starter enilria
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ngneer
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The plot sickens. Independence Air warns of possible Chapter 11.
JetClipper
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The ironic part is that all Skeen & Co. may have really accomplished is providing Mesa an opportunity to buy ACA after all. However, this time it will be at rock-bottom prices since Independence Air will be Chapter 11.
Meanwhile, Skeen will join the “Hall of Shame†for airline CEOs whose egos overshadowed their business acumen (right up there with Lawrence Harding, Ed Beauvais, and Don Burr).
Meanwhile, Skeen will join the “Hall of Shame†for airline CEOs whose egos overshadowed their business acumen (right up there with Lawrence Harding, Ed Beauvais, and Don Burr).
RowUnderDCA
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that would be Harding Lawrence. although I wouldn't be surprised to learn that he was born 'Larry Harding' and changed the name for image purposes.
This is some speculation that they may re-bid into the UA Express system. It would be a smart move for them at this point, but I fear by the time it gets approved/implemented, it might be too little too late. Also, I would think UAL is looking for 70-seaters not 50-seaters, but that is just my speculation.
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RowUnderDCA said:
Oops. Thanks for clarifying that.
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ngneer
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In the continuing saga, major investor wants Indy Air to return to flying for United.
Are they trying to get any temporary concessions from labor? It would seem to me that the line of "accept temporary concessions or we go back to UA, which means no Airbus flying for you" would be a strong negotiating position for the company, especially for the pilots. I'm not advocating this, just wondering if it is happening.
Flyi Looks for Ways to Move Past Mistakes
By Bill Brubaker
Washington Post Staff Writer
Monday, November 29, 2004; Page E01
On Thanksgiving eve, one of the biggest travel days of the year, Independence Air's top executive, Kerry B. Skeen, sprinted from gate to gate in Washington Dulles International Airport's Terminal A, boarding flights to greet his customers.
"I've been at the airport all day and I've been on about 25 airplanes," Skeen reported, a bit breathless, Wednesday afternoon. "I do this every week. But it was more fun today because the flights were full. I just wanted to thank people for their business."
Skeen's low-fare airline, now five months old, can use all the business it can get. The Dulles-based carrier's parent, Flyi Inc., reported an $82.7 million loss in the third quarter, partly because it was flying half-empty jets. It recently warned that it would file for Chapter 11 bankruptcy protection if it cannot renegotiate $83 million in aircraft lease payments, due in January. It has won some concessions -- Airbus SAS has agreed to delay delivery of 10 jets until 2007 -- but needs more.
Some airline analysts assert the Flyi model was flawed from the beginning. Skeen, Flyi's chairman and chief executive, says he is evaluating an offer from a former partner, United Airlines, to bid on a contract that could change the way his company does business.
Rest of the Article
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By Bill Brubaker
Washington Post Staff Writer
Monday, November 29, 2004; Page E01
On Thanksgiving eve, one of the biggest travel days of the year, Independence Air's top executive, Kerry B. Skeen, sprinted from gate to gate in Washington Dulles International Airport's Terminal A, boarding flights to greet his customers.
"I've been at the airport all day and I've been on about 25 airplanes," Skeen reported, a bit breathless, Wednesday afternoon. "I do this every week. But it was more fun today because the flights were full. I just wanted to thank people for their business."
Skeen's low-fare airline, now five months old, can use all the business it can get. The Dulles-based carrier's parent, Flyi Inc., reported an $82.7 million loss in the third quarter, partly because it was flying half-empty jets. It recently warned that it would file for Chapter 11 bankruptcy protection if it cannot renegotiate $83 million in aircraft lease payments, due in January. It has won some concessions -- Airbus SAS has agreed to delay delivery of 10 jets until 2007 -- but needs more.
Some airline analysts assert the Flyi model was flawed from the beginning. Skeen, Flyi's chairman and chief executive, says he is evaluating an offer from a former partner, United Airlines, to bid on a contract that could change the way his company does business.
Rest of the Article
WashPost requires free registration...
ngneer
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Unfortunately for Flyi, their planes are still about half empty. They report that their load factor for November was 52%. How much longer can they go on at this pace?
Flyi November traffic results
Flyi November traffic results
ngneer said:
Aside from a BK filing, what can they do? Its obvious the strategy of high frequency into IAD isn't working. I thought all along that their only chance would be to hang on long enough to get a decent-size fleet of A319's into service to reduce the CASM, but that was based on the assumption that they would actually generate some business!
Plus, the press reports of their impending demise has got to be hurting future bookings.
