An Airline Disaster: Independence Air

It’s been a month since Independence Air ceased operations on January 5. I was initially impressed with the fact that they gave advance warning that were shutting down, avoiding the debacle exemplified by Eastern Airlines when they folded without warning in 1991.

I’m not sure what to think about Independence Air now that there has been a month of post mortem. I feel especially bad for the employees, many of whom worked for Independence Air in its previous incarnation as a financially strong United Connection carrier. Published reports state that Independence Air began with a war chest of over $800 million – where did that go in eighteen months?