Air Transport World

Going gets rough for former Regional.(Regional News)(FLYi Incorporation)(Brief Article)

FLYi Inc., parent of new low-fare carrier Independence Air, reported a net loss of $82.7 million for the third quarter ended Sept. 30, which included several onetime gains and charges and compared to net income of $21.3 million for third-quarter 2003.

Operating revenues declined 45.9% to $119.6 million on a 45.8% drop in passenger revenue and a 48.3% fall in other revenue. But operating expenses climbed 24.2% to $228.1 million and as a result, operating loss totaled $108.5 million compared to operating income of $37.4 million in the year-ago period, when the carrier operated as Atlantic Coast Airlines. …

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