FLYi reports $1,135 November net operating loss, Independence Air posts $435,701 net operating loss

By Caroline Salls

Pittsburgh, Dec. 20 - FLYi, Inc. reported a $1,135 net operating loss for November on zero revenue, and subsidiary Independence Air reported a $435,701 net operating loss, also on zero revenue, according to their monthly operating reports filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware.

In October, FLYi posted zero net operating income on zero revenue, and Independence Air reported an $11.43 million net operating loss on zero revenue.

FLYi's net loss for November was $238,718, down from a $484,880 October net loss, and Independence Air's November net loss was $10,566, compared with a $10.4 million October net loss.

Cash and cash equivalents for FLYi on Nov. 30 were $1.22 million, the same as at the end of October.

Independence Air posted $44.13 million in cash and cash equivalents at the end of November, compared with $45.98 million the month before.

FLYi, the Dulles, Va.-based parent of Independence Air, filed for bankruptcy on Nov. 7, 2005 in the U.S. Bankruptcy Court for the District of Delaware. Its Chapter 11 case number is 05-20011.

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