FLYi Inc.

45200 Business Ct.

Year founded: 1989

Industry: Transportation

Post 200 Category: Top 125 Companies

Revenue: $500.09 Million

Net Income/Loss: ($192,173,000.00)

Earnings per share: ($4.24)

Dividend: n/a

Stockholder equity: $167.13 Million

Auditor: KPMG LLP

Stock: FLYI

Assets: $677.66 Million

Market capitalization: $51.92 Million

52-week high: 7.86 4/22/2004

52-week low: 1.03 4/14/2005

Chairman and CEO: Kerry B. Skeen

President and COO: Thomas J. Moore

Employees: 4150

Local employees: 3547

Description: Flyi is the parent of low-cost carrier Independence Air, which began service on June 16 at Washington Dulles International Airport. The company was formerly known as Atlantic Coast Airlines Holdings Inc., which operated regional jets out of Dulles for United Airlines and Delta Air Lines.

Developments: Flyi has struggled with lower-than-expected ticket sales and higher-than-expected fuel costs. As part of a financial restructuring plan this winter, the carrier sold some of its regional jets, returned others to lessors, and cut back frequency of service to many cities. The restructuring plan will help cut Flyi's aircraft lease payments by $94.5 million over the next two years. Creditors are also allowing the company to defer another $70 million in lease payments over the same period. Some Wall Street analysts have questioned whether Flyi's low-cost model, mixing short-haul and long-haul routes, will work. Independence Air generally is credited with making air travel cheaper in the markets it serves; many competitors have matched its fares. Flyi offers service to four Florida cities and Las Vegas on Airbus A319 jets. It serves about 35 other markets, most in the eastern United States, on 50-seat regional jets. The airline began Airbus service from Dulles to San Diego on April 14 and plans to serve four other West Coast cities beginning May 1. In March, the airline reported it sold 71 percent of seats, about the industry average.