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Independence Air Skips Interest Payment

Independence Air said yesterday that it missed an interest payment due this month and now has 30 days to pay before it goes in default.  Combine this news with yesterday’s word that an airplane was repossessed, and the picture isn’t pretty.  Independence Air is like an 18 year old who leaves home after a fight with his parents (United), moves in with his girlfriend, gets her pregnant with a whole bunch of new airplanes, has his Camaro repossessed, has his landlord breathing down his back, and, I’m certain, will show back up on daddy United’s doorstep realizing that he didn’t have it so bad after all.  The end.

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