FLYi requests court approval to reject headquarters lease following liquidation

By Caroline Salls

Pittsburgh, April 11 - FLYi, Inc. requested court approval to reject the lease for its Dulles, Va., headquarters, according to a Monday filing with the U.S. Bankruptcy Court for the District of Delaware.

The lease rejection would take effect on April 30.

The company also wants to enter into a new lease agreement with landlord Loudon Gateway III, LLC in connection with the continued lease for a portion of the headquarters property.

Under the new lease, FLYi will use a portion of the first floor of the building until April 30, 2007. The rent will be $17,500 per month.

FLYi said it no longer needs all of the space at its headquarters following the liquidation of its assets and wind-down of its operations.

A hearing is scheduled for April 28.

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

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