NEWS: A Little Gift for Independence Air

Seems Wall Street likes the agreement between Independence Air's parent company, FLYi, and GECAS to terminate the lease of 10 aircraft this quarter and arrange for the early return of another 6-10 next quarter . The bonus is a $19.5 million loan from GECAS. Based on this news shares of FLYi jumped about 36% on Tuesday. Now for some perspective...that 36% put their stock price at a high of $2.14.

There is still the matter of the other 27 aircraft they operate that have lease deals in need of re-negotiation with other lenders. They need some latitude and grace from everyone to recover. Timing is crucial. Delta's fare plan hits right in the bread-basket and fuel prices are still high. But hey...revel in that good news for right now.