Skybus Folds

Apr 05 2008 Skybus Folds BY sgf-admin TAGS Airlines


skyb.gifThe airline famous for having a few $10 seats on every flight ends operations today. On Monday it plans to file for bankruptcy. It's the third airline closing this week.


Skybus began business less than a year ago and was based in Columbus, Ohio. The Columbus Dispatch quotes aviation analyst Michael Boyd: ""They had a dumb model. The original plan never had a chance, at $50-a-barrel oil or $100-a-barrel oil. But I really thought someone could come in and turn it around. The pressures on airlines today are very different than they have been in the past. They're shutting down suddenly now to preserve whatever assets they have for the creditors."


Read the company announcment here.

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