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Independence Air was a low-cost airline, owned by FLYi, Inc., headquartered in the Loudoun Gateway Corporate Center in Dulles, Virginia, United States (near Washington, D.C.) that operated from 1989 until 2006. Its route network focused on the east coast of the United States, but it also extended to the west coast.
Pittman, Dickerson and two silent partners formed a parent company, Independent Air Holdings Company Inc., in April 1985 for the purpose of acquiring Independent Air Inc. from Maugans and Vason for $213,590. The new owners then completed a public offering of 46% of the company's stock and netted about $2,8 million. The owners retained 54% of ...
FLYi, Inc., previously known as Atlantic Coast Airlines Holdings, Inc., was a Delaware airline holding company based in the Dulles area of unincorporated Loudoun County, Virginia. [1] Prior to filing for Chapter 11 Bankruptcy, the company operated Independence Air.
A reverse stock split occurs on an exchange basis, such as 1-10. When a company announces a 1-10 reverse stock split, for example, it exchanges one share of stock for every 10 that a shareholder owns.
Within a few months the stock purchase plan was removed by Mesa. On November 19, 2003, Atlantic Coast Airlines announced that it would become a low-cost carrier under the name of Independence Air. Its status as a United Express carrier ended on August 4, 2004, and its status as a Delta Connection carrier ended November 2, 2004.
The average return after a stock split is announced in the year that follows is 25.4%. That's about a 13% greater return than the market over the same period. This chart lays it out nicely.
Both companies split their stock 20-for-1 in 2022, when each traded for more than $2,000 per share. This brought them down to more reasonable levels, at a split-adjusted $100 per share.
Emerged from bankruptcy as American Airlines Group; includes parent company AMR Corporation and subsidiary American Eagle Airlines: Ryan International Airlines: March 6, 2012 Ceased operations Pinnacle Airlines: April 2, 2012 May 1, 2013 Emerged as subsidiary of Delta Air Lines; name changed to Endeavor Air: Southern Air