FLYi posts zero October net operating income; Independence Air shows $11.43 million net operating loss

By Caroline Salls

Pittsburgh, Nov. 21 - FLYi, Inc. reported zero net operating income for October on zero revenue, and subsidiary Independence Air reported an $11.43 million net operating loss on zero revenue, according to an 8-K filing with the Securities and Exchange Commission.

In September, FLYi's net operating loss was $1,120 on zero revenue and Independence Air posted a $1.11 million net operating income on $15,260 in revenue.

FLYi's net loss for October was $484,880, up slightly from a $445,897 September net loss. Independence Air's October net loss was $10.4 million, compared with an $8.02 million September net profit.

Cash and cash equivalents for FLYi on Oct. 31 were $1.22 million, the same as at the end of September.

Independence Air posted $45.98 million in cash and cash equivalents as of Oct. 31, up from $45.4 million at the end of September.

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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