Independence Air’s parent company FLYi inc, filed for Chapter 11 bankruptcy protection today. The regional carrier has been experiencing financial difficulty for months. The company is planning on operating as normal for the time being, but the low cost carrier is looking at auctioning off its assets in the next 60 days. if the bankruptcy judge is in agreement.

They plan on flying their regular schedule for the time being and that customers should not be affected.

This announcement places another airline in the realm of bankruptcy. The changing of the economic model for modern air travel is a painful process.
via Reuters