Independence Sets Passenger-Load Record
Flyi, the parent of Dulles-based low-cost carrier Independence Air, said it sold 76.2 percent of its seats in June, a record for the year-old airline. Flyi also said it carried 521,364 passengers in that month.
Independence had reported a load factor of 72.9 percent in May and 68.6 percent in April.
Profit Falls at Region's Biggest Health Insurer
CareFirst BlueCross BlueShield, the Washington area's biggest health insurer, had a 2004 profit of $140.5 million, compared with $171.3 million a year earlier. Revenue grew 7.3 percent, to $4.98 billion. In its annual report, the nonprofit organization said the drop in profit reflected "the pressures facing the health insurance industry." CareFirst reported $1.24 billion in reserves, up from $1.06 billion.
REIT Buys Into Assisted-Living Communities
Sunrise Senior Living Real Estate Investment Trust agreed to buy a controlling stake in 13 assisted-living communities in eight states, its second acquisition since becoming a public company in December. The communities are valued at $290 million, the Ontario REIT said.
The REIT will acquire a 75 percent stake in the communities from an institutional partner of Sunrise Senior Living, the McLean company that established the real estate trust last year. Sunrise Senior Living holds the remaining 25 percent stake. The deal is expected to be completed Aug. 3. Terms were not disclosed.
Allied Capital to Sell Housecall
Business development company Allied Capital said it will sell its Housecall Medical Resources business to Amedisys, a larger home nursing provider that operates in similar markets, for $106.4 million.
District-based Allied Capital expects to record a gain of $51.9 million related to the sale, after being repaid $15.9 million in outstanding loans. About $7 million of the proceeds will be held in escrow for up to three years. The company owns 65.7 percent of Housecall shares.
Compiled from staff and news service reports.