Originally Posted by UALPilotDC
True....the DIp lenders are in it for themselves.
But what's left at FlyI that is still unencumbered? Pretty much nothing from what I have read. DC There may be some hidden ones that could extract value. (Maybe jetBlue would like their ORD gate? Or perhaps their reservation system and computers has some value?) The Airbus planes could fetch some value - but I'm guessing those are pretty much all spoken for (and then some) And the RJs? With the cutbacks expected from DL and NW, there may not be much local demand for them... Then there is the flying certificate, and local airport operations... Maybe the someone like the 'yet to launch' "virgin usa" could really use some of those assets to help their launch. Could a merger be a possibility? Or a liquidation? Or a prepackaged Ch. 11? Or some miracle in the business model that turns a profit? Or more saviors that come to help? Plenty of things could happen... |
Everytime I skim this thread I keep thinking the thread title infers
"Please help FlyI Stop Service to LAX starting 10/01/2005" instead of "Please help, FlyI Stop Service to LAX starting 10/01/2005" That comma makes a world of difference ;) |
Originally Posted by Mateo4321
Everytime I skim this thread I keep thinking the thread title infers
"Please help FlyI Stop Service to LAX starting 10/01/2005" instead of "Please help, FlyI Stop Service to LAX starting 10/01/2005" That comma makes a world of difference ;) |
Originally Posted by Mateo4321
Everytime I skim this thread I keep thinking the thread title infers
"Please help FlyI Stop Service to LAX starting 10/01/2005" instead of "Please help, FlyI Stop Service to LAX starting 10/01/2005" That comma makes a world of difference ;) Reminds me of why so many people oughtta read Eats, Shoots & Leaves. :) |
Originally Posted by L Dude 7
Do we have any accurate statements on what unencumbered assets they have?
There may be some hidden ones that could extract value. (Maybe jetBlue would like their ORD gate? Or perhaps their reservation system and computers has some value?) The Airbus planes could fetch some value - but I'm guessing those are pretty much all spoken for (and then some) And the RJs? With the cutbacks expected from DL and NW, there may not be much local demand for them... Then there is the flying certificate, and local airport operations... Maybe the someone like the 'yet to launch' "virgin usa" could really use some of those assets to help their launch. Could a merger be a possibility? Or a liquidation? Or a prepackaged Ch. 11? Or some miracle in the business model that turns a profit? Or more saviors that come to help? Plenty of things could happen... FlyI owned 0 319's and 8 CRj's... 6 319's are scheduled to be purchased in 2006 and 10 more in 2007. they leased 8 319's and 74 CRj's (24 of which are scheduled to be returned) All gates and airport facilaties at IAD are leased or used via a 60 day user permit (the Airbus gates) The Metropolitan Washington Airport Authority is the owner. Maintenance hangars/space in IAD, MCO, and CAE are leased as are the flight simulators..and corporate office space.... They do have slot authority for JFK and HPN, but whether they can sell these is unclear to me. They have gotten them as a "new entrant carrier" and using the exception for Rj's. Add in the changes over the past six months to aircraft deliveries, etc...and I don't see much that FlyI has to use as collateral for DIP money. Nothing for them to sell. As to what someone else might find attractive (the Virgin USA theory) well the gates in IAD that FlyI control are not useable for anything other than RJ ops. Though I bet UAL would like to get those back under its control and be rid of Terminal G. And I believe the ORD gate is actually leased from Continental. DC |
Is the EWR gate for Indy a RJ Gate? Could Jetblue use it to alevate the possible problems caused by late flights going out of just 2 gates?
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On the original issue, you can sometimes get a Jetblue roundtrip from LAS to LGB for under $100 to continue your trip.
Unless you really want to go to LAS instead, I'd cancel the flight and buy the Jetblue or AA or UA flight instead to get to LAX on the days you wanted. The UA non-stop is pricing around $220 right now. |
Get out Quick
Sad to say but Independence is not Delta or Northwest - All reports are they Independence will be in bankrupt before the end of the month - probably out of business.
My guess is the folks who are trying to save US, UA, DL, and NW will gladly sacrifice this little airline. It cuts capacity and fares may go up. Yes Jet blue and Southwest may pick up some of the slack but until JetBlue puts its new smaller planes in service, these airlines will not be flying to places like Columbia, SC and Charlestown, WV. The lack of Independence means the legacy airlines can charge higher fares. If I had tickets for travel on Independence, I would move fast to get on another airline. Unfortunately, those moves will quicken the demise. |
Originally Posted by sonple
Thank you everyone for your sugestions. I called flyi and changed my flight to Las Vegas instead.
Thanks again, Sonple |
Originally Posted by santarosaflyer
Sad to say but Independence is not Delta or Northwest - All reports are they Independence will be in bankrupt before the end of the month - probably out of business.
We will see. |
Originally Posted by UALPilotDC
From a quick perusal of the 2004 annual report, as of March 28,2005:
They do have slot authority for JFK and HPN, but whether they can sell these is unclear to me. They have gotten them as a "new entrant carrier" and using the exception for Rj's. |
Originally Posted by spampurse
People have been saying that DH is weeks away from liquidation since early this year (or before) and they have all been wrong. Ultimately we are all just armchair quarterbacks, but I still think that there are actually a lot of people out there that DH can tap for money. The numerous "best of" awards that DH has been given recently shows that they are an airline that people love to fly and will continue to fly if given the chance... their only roadblock is financial. Investors notice that sort of thing, and know that if they can help DH get over the financial hump they can cash in on the success. Not to say that it won't be bumpy, but there is still hope.
We will see. |
Originally Posted by DHAST
For real? JFK and and HPN are not slot controlled, so I had no idea there were landing rights or what not to be sold. Perhaps JFK is being confused with LGA? LGA is slot controlled.
http://www.flyi.com/company/annualreports/2004.pdf page 15 under the subheading of slots..... Slots. Slots are reservations for takeoffs and landings at specified times and are required by governmental authorities to operate at certain airports within the United States. Independence Air has rights to and utilizes takeoff and landing slots at New York-Kennedy, and White Plains, New York airports. Airlines may acquire slots by governmental grant, by lease or purchase from other airlines, or by loan when another airline does not use a slot but desires to avoid governmental reallocation of a slot for lack of use. All leased and loaned slots are subject to renewal and termination provisions. Under law presently in effect, slot regulation at Kennedy airport is scheduled to end after January 1, 2007. The rules also provide that, in addition to those slots currently held by carriers, operators of regional jet aircraft and new entrant air carriers may apply for, and the Secretary of Transportation must grant, additional slots at New York-Kennedy in order to permit the carriers to offer new service, increase existing service or upgrade to regional jet service in qualifying smaller communities. There is no limit on the number of slots a carrier may request. Prior to the commencement of services by Independence Air, Independence Air requested and obtained from the FAA, under the provisions of current law, slots necessary to operate its flight schedule to and from New York Kennedy Airport. The New York Kennedy Airport slots are permanent, subject to loss due to nonuse. To the extent Independence Air would seek to operate narrow-body aircraft at Kennedy or any other slot controlled airport, it will have to either purchase or lease slots from another air carrier or be qualified to obtain such slots under the then current regulatory regime. Slots at White Plains, New York airport are held in the name of Independence Air and are sufficient to conduct operations at the airport. As a result of congestion at Chicago O’Hare Airport, on January 21, 2004, the FAA entered an Order requiring the two largest O’Hare carriers, United Airlines and American Airlines, to reduce their O’Hare flight schedules, including the schedules operated by carriers affiliated with these major carriers. The FAA order was subsequently extended until October 2004. Prior to its expiration, the FAA, on August 18, 2004, issued another order setting limits through April 30, 2005 on the number of air carrier arrivals at O’Hare during peak hours to reduce the level of airport congestion and applied the terms of the order to all domestic carriers operating at O’Hare, including Independence Air. The FAA has proposed to extend the effectiveness of this order until October 30, 2005 during which time the FAA has indicated that it intends to propose and adopt a longer term, more permanent solution to the issue of O’Hare airport delays. At the current time, Independence Air has sufficient rights to conduct flights at O’Hare during the controlled hours. Should the FAA propose additional limits on Independence Air flight arrivals, it may not be able to develop a flight schedule that maximizes Independence Air’s revenue opportunities. |
Weird. I wonder if that section of the report is technically accurate. If an airport is slot controlled, it is slot controlled for all users on an IFR flight plan, both airline and general aviation. That means joe in the Cessna (if IFR) and Hillary in the private jet both have to call a special FAA phone number within a certain window to obtain their arrival/departure slot. I have never seen slot control procedures for JFK and HPN, which is why I question the accuracy of that section of the report.
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That does sound accurate based on what I have heard. I recall JetBlue getting a huge amount of slots at JFK for their launch. Part of how they did this was by promising the flight service to upstate New York. As I recall, DCA, JFK, ORD, and LGA were the slot controlled airports in the US. ORD and LGA both had them lifted, however, LGA had some huge amounts of congestion, and pretty much had them back in place.
FlyI was perhaps one of the causes of the O'Hare restrictions. Their service launched with a large number of flights around the time O'hare was really choking on capacity. They got plenty of bad press for launching frequent, seemingling redundant RJ service at the time. However, the DOT stepped in and brokered a deal with United and American that would reduce flights; though ironically, the 'new entrant' and regional exemptions would pretty much let FlyI come in and will. HPN is its own thing. I believe the neighbors (wealthy Connecticut and Westchester) are against the airport, and thus have restrictions on passenger capacity. (Though ironically, it seems the corporate business jets are the noisiest planes - but those are what they themselves are flying on.) |
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