An Airline in Pieces, Going Once . . .
Independence Air Auction Provides Bargains for Shoppers, Closure for Nostalgists
Jose Cordova of Ashburn, a former Independence Air employee, bids on a multimedia projector at the defunct carrier's asset auction.
(Photos By Jahi Chikwendiu -- The Washington Post)
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Saturday, April 22, 2006
Six years ago, Sergio Quiroga sat nervously on a couch in the lobby of what would become Independence Air, applying for a job as a pilot. Yesterday, he took the couch home with him, a bit of nostalgia plucked from the bankrupt company's wreckage.
As an auctioneer rattled away in cowboy boots and a western twang, Independence Air's remaining possessions were put on public sale yesterday, a process that will continue today and next weekend.
The customers included first-time business owners looking for bargains, suited airline specialists, auction hobbyists, and, in some cases, former employees nostalgic over a company that promised to revolutionize air travel with cheap flights and good customer service.
"At least I can take a little piece with me," said Quiroga, who now works for US Airways.
Key portions of Independence Air's business already have been sold to other airlines since the company closed in January, its leased planes returned to their owner and its gates at Dulles International Airport picked up by United Air Lines.
The auction of everything from ticketing kiosks to five-gallon cans of turbine oil is a near-final step in closing the company and a reminder of how far it fell.
Tracy Smith, who joined the finance department of Independence Air parent Flyi Inc. 14 years ago, when it was known as Atlantic Coast Airlines, followed the crowd of buyers through the maze of hallways as they auctioned off bookshelves, bulletin boards and framed promotional posters.
"We had really high hopes for Independence when it started and were so sad to see it end so quickly," said Smith, who is still employed by the company as part of the "shutdown team."
Yet it also has created a good business for Starman Bros. Auction, which has carved a niche out of the airline industry's troubles.
The Papillon, Neb.-based aviation auctioneer said it has seen its business increase 20 to 30 percent annually in the past five years. From the Independence Air auction, which ends next Sunday, Starman will get 5 percent of the total proceeds. Sales are expected to range from $9 million to $12 million. The money will be distributed by the bankruptcy court.
"We've been a whole lot busier in the last few years because of all the downsizings," said Steve Starman, who started the company 20 years ago. Starman Bros. held an auction for beleaguered US Airways last year and has been hired to hold one for Northwest Airlines, which is operating under Chapter 11 bankruptcy protection, this summer.
Northwest, United, and Delta have all filed for bankruptcy protection in the past few years. Eastern Airlines and Midway Air Lines have failed since 1991.
