Troubled US low-fares start-up Independence Air has deferred delivery of 10 Airbus A319s after failing to make a scheduled $8.7 million payment to the manufacturer. The news comes after parent Flyi's warning earlier this month that the company may file for Chapter 11 bankruptcy protection if it cannot secure additional liquidity ahead of key aircraft lease payments due in January. In a filing to the US Securities & Exchange Commission (SEC), Flyi says that, to address "liquidity concerns", the company has amended its original purchase agreement with Airbus so that 10 A319s originally scheduled for delivery in 2005 will be delivered in 2007. "The rescheduling of aircraft deliveries to 2007 has adjusted the amount of current and near-term pre-delivery payments due under the purchase agreement, thus assisting in the company's efforts to address its liquidity requirements," says Flyi.
Source: Flight International
