steven
December 14th, 2005, 05:10 PM
The low-cost airline, whose parent company filed for bankruptcy protection in November, will discontinue flights between BNIA and Washington Dulles International Airport as of Jan. 5.
The airline entered the Buffalo in July 2004, offering eight round-trip flights between Buffalo and Washington. The schedule, however, has been greatly reduced, as just three daily flights have been offered as of early November.
"With only three flights, the impact on the market should be minimal," said NFTA spokesman Douglas Hartmeyer. He noted Southwest Airlines has seven daily flights to Baltimore Washington International Airport, U.S. Air has four daily flights to Ronald Reagan Washington National Airport, and United Express has four daily flights to Dulles.
The NFTA, which operates BNIA, will lose approximately $300,000 in annual revenues minus Independence Air.
Also, Independence Air is ending service to Chicago, Jacksonville, and Manchester, N.H., reducing the carrier's daily flights from about 210 to 170. The airline's flight schedule peaked at 600 daily flights in early 2005.
Independence Air will cut another 50 jobs in addition to 650 jobs that have already been eliminated. The latest cuts will reduce the airline's workforce to about 2,700.
"We are continuing to move toward additional cost reductions as we conserve cash through the typically challenging first quarter travel season," says Independence Air spokesman Rick DeLisi in an interview.
Although the bankruptcy court overseeing Independence Air's case has set a Dec. 16 deadline for interested parties to submit proposals for investing in the airline or buying it, that may be extended. "There is enough flexibility in the process at this point that there is no certain deadline for any certain event to occur," DeLisi says.
Independence Air (NASDAQ: FLYIQ) has said it has received several offers, but has not identified the investors. It says the talks include outside investments, buying the airline outright and continuing to operate it, or buying its assets.
http://www.bizjournals.com/buffalo/stories/2005/12/12/daily22.html
The airline entered the Buffalo in July 2004, offering eight round-trip flights between Buffalo and Washington. The schedule, however, has been greatly reduced, as just three daily flights have been offered as of early November.
"With only three flights, the impact on the market should be minimal," said NFTA spokesman Douglas Hartmeyer. He noted Southwest Airlines has seven daily flights to Baltimore Washington International Airport, U.S. Air has four daily flights to Ronald Reagan Washington National Airport, and United Express has four daily flights to Dulles.
The NFTA, which operates BNIA, will lose approximately $300,000 in annual revenues minus Independence Air.
Also, Independence Air is ending service to Chicago, Jacksonville, and Manchester, N.H., reducing the carrier's daily flights from about 210 to 170. The airline's flight schedule peaked at 600 daily flights in early 2005.
Independence Air will cut another 50 jobs in addition to 650 jobs that have already been eliminated. The latest cuts will reduce the airline's workforce to about 2,700.
"We are continuing to move toward additional cost reductions as we conserve cash through the typically challenging first quarter travel season," says Independence Air spokesman Rick DeLisi in an interview.
Although the bankruptcy court overseeing Independence Air's case has set a Dec. 16 deadline for interested parties to submit proposals for investing in the airline or buying it, that may be extended. "There is enough flexibility in the process at this point that there is no certain deadline for any certain event to occur," DeLisi says.
Independence Air (NASDAQ: FLYIQ) has said it has received several offers, but has not identified the investors. It says the talks include outside investments, buying the airline outright and continuing to operate it, or buying its assets.
http://www.bizjournals.com/buffalo/stories/2005/12/12/daily22.html