http://today.reuters.com/investing/f...TCY-URGENT.XML
NEW YORK, Nov 7 (Reuters) - FLYi, Inc. (FLYI.O: Quote, Profile, Research), parent of low-fare carrier Independence Air, on Monday said it and its subsidiaries filed to restructure aircraft leases and other obligations under Chapter 11 of the U.S. Bankruptcy Code.
The company also said it would request court approval to engage in a formal court-supervised auction process to seek assistance to continue its operations.