FLYi posts $1,876 December net operating loss; Independence Air net operating income $15.66 million

By Caroline Salls

Pittsburgh, Jan. 23 - FLYi, Inc. reported a $1,876 net operating loss for December on zero revenue, and subsidiary Independence Air reported a $15.66 million net operating income, also on zero revenue, according to their monthly operating reports filed Monday with the U.S. Bankruptcy Court for the District of Delaware.

In November, FLYi posted a $1,135 net operating loss and Independence Air posted a $435,701 net operating loss, both on zero revenue.

FLYi's net loss for December was $631,088, slipping from a $238,718 November net loss, and Independence Air's December net profit was $15.64 million, improved from a $10,566 November net loss.

Cash and cash equivalents for FLYi on Dec. 31 were $1.23 million, compared with $1.22 million at the end of November.

Independence Air posted $41.72 million in cash and cash equivalents as of Dec. 31, compared with $44.13 million the month before.

FLYi, the Dulles, Va.-based parent of Independence Air, filed for bankruptcy on Nov. 7, 2005. Its Chapter 11 case number is 05-20011.

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