NEWS: The Grim Repo Man Visits Independence Air

Flyi, parent of struggling Independence Air, revealed that one of the carrier's aircraft had been repossesses late Friday. The airline had failed to make a lease payment last month triggering the lender to file suit and subsequently take the aircraft back. Flyi has not named the lender who got themselves wrapped around the axle but have stated that the loss of the aircraft should not impact their operation. The real questions is are any other lenders going to take the same action?

Independence Air recently renegotiated their aircraft deals with GE Capital to keep themselves out of this type of situation. But that deal did not cover all of the aircraft in their fleet. The airline has not announced any deals to renegotiate the remaining $83 million in aircraft lease payments due in January. Now it appears that at least one other lendor doesn't feel as forgiving or have pockets as deep as GE Capital. Something tells me they won't be the last to take this action. Something tells me that Independence Air is pretty close to Chapter 11. Then again they might just liquidate straight away.