Independence Air ready to file for bankruptcy
The latest airline to stumble towards bankruptcy: Independence.
The low-fare carrier that challenged Northwest could fly into bankruptcy any day, according to several reports.
Independence, launched 16 months ago, had one-way fares as low as $29.
It is unclear whether the airline will seek to reorganize under Chapter 11 bankruptcy protection or if it would liquidate and shut down completely in Chapter 7 proceedings.
Independence has been flying non-stop between Washington and Detroit. The carrier flies to more than 40 cities in the East, and recently expanded to six West Coast cities.
Two other carriers, Spirit and US Airways, also are flying that route. So fares are not likely to be hiked if Independence goes Chapter 11.
Report by David Wilkening
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