independence air was the most heavily funded start up airline in world history with $400 million and we did expect to operate at a loss for several years. We thought we had enough cash to last long enough. Also we thought United would have no choice but to keep some of our RJs flying for them. We where wrong. When oil went up to the ungodly high price of $40 a barrel we just couldnt afford it. Our load factor for the first year was also extremely low due to operating 300 flights daily on day 1.

I think VX could make it in a different economic environment. Now is the time to invest in raw materials, oil, steel, minerals, ect. You buy it and it will go down in value but thats it. When the world's economy turns around you then sell it to the Chines and make a killing. With an airline you buy it, it goes down in value and then they want another $100 million and then another $100 million ect, ect. Your investment is not a fixed cost. For almost a decade now investors have been dumping money that they will most likely never see again into the airlines. Darwin has eliminated most of these investors and the oasis has dried up. If an airline needs more cash and they have nothing to sell it will be a difficult time for them.

Best of luck to Sir Richard and his boys