The best quote I ever heard about investing in airlines is that you should only do it with your mother in law’s money. Apparently the folks that spent their hard earned cash on Independence Air are about to learn that lesson the hard way as Independence has filed for Chapter 11 Bankruptcy protection in Delaware this morning. No word on what Sen. Vinick (R-CA) or Rep. Santos (D-TX) have to say about this after their discussion of airline bankruptcies in their live debate last night. Seriously, don’t you wish your politicians talked like those guys? Without message people, or anything? And were mostly eloquent? Anyhow, Independence flights are on schedule for today, but no word on what’s going to happen next.
Personally, I’m rooting for JetBlue to buy them up for their gate space at Dulles.
This post appeared in its original form at DC Metblogs