State of the Airlines

Friday, January 21, 2005

NEWS: Independence Air Finds Some Benefactors

Maybe benefactors isn't the right term...technically the correct word is investors. However, there are those who would look at the decision to buy a large chunk of FLYi stock, parent company of Independence Air, more of a gift than an investment. Be that as it may its exactly what happened. Two seperate investors purchased the equivalent of around 12.5% of FLYi stock on Friday. While this isn't going to save Independence Air it can't hurt to have a couple of big hitters take a stake in your airline. Something that might give their efforts to stay out of bankruptcy some credibility while they search for new investors.