Independence Air in Trouble

Reviewing recent press releases from Dulles-based carrier Independence Air, the future does not look bright. Flights are being cut back everywhere, on-line "glitches", lay-offs and the CFO Richard Surratt, who has been with the company since December 1999, has resigned to pursue other opportunities. Not only is he leaving the company, but he he is taking a job at a publicly traded company outside of the industry and outside of the region.

Anytime a CFO quits his job, leaves the industry and region, the underlying company is about to make alot of employees and creditors very angry. Reports say DJAir Group needs to line up about 100 million in venture capital to get started. Things like Independence Air potentially going down the tubes can not make this an easy task, not to mention SouthEast and TransMeridian.

That does not mean we should not pursue DJAir, but lets focus in the short-term on other second-tier carriers to compliment Allegiant Air. How much would it cost to send the Mayor and out City Manager down to Hooters Air Headquarters in Myrtle Beach? It would be well worth the investment.