FLYi Seeks OK for Bonuses
Independence Air parent FLYi Inc. asked a bankruptcy court to approve $3.2 million in bonuses for 180 employees the airline will try to keep after it stops flying today.
Independence Air parent FLYi Inc. asked a bankruptcy court to approve $3.2 million in bonuses for 180 employees the airline will try to keep after it stops flying today. FLYi also is seeking approval from the U.S. Bankruptcy Court in Wilmington, Del., to pay the workers $1.96 million in salaries for as long as six months, and $11.3 million in severance and benefits for 2,520 who will be fired, according to court papers.
The low-fare carrier, based in Dulles, Va., sought bankruptcy protection on Nov. 7, 18 months after it agreed to stop making regional flights for UAL Corp.'s United Airlines and Delta Air Lines Inc. It piled up $371 million in losses, hurt by record fuel prices and increased competition.
- Bloomberg News
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