SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_______________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 or 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): October 27,2004
FLYI, Inc.
(Exact Name of Registrant as Specified in Charter)
Delaware 0-21976 13-3621051
(State or (Commission (IRS
Other File Employer
Jurisdiction Number) Identification
of No.)
Incorporation)
45200 Business Court, Dulles, VA 20166
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (703) 650-6000
N/A
(Former Name or Former Address, if Changed Since Last Report)
Item 12 Results of Operations and Financial Condition.
On October 27, 2004, FLYi, Inc. (ACA) (NASDAQ/NM: FLYI)
issued a news release concerning its third quarter 2004
earnings. (See Exhibit 99 attached).
Statements in this press release and by company executives
regarding its implementation of its Independence Air
operations, as well as regarding operations, earnings,
liquidity, revenues and costs, include forward-looking
information. A number of risks and uncertainties exist
which could cause actual results to differ materially from
these projected results. Such risks and uncertainties
include, among others: the ability of the company to
successfully complete negotiations with its various lessors
to reduce and/or defer its aircraft lease payments; the
ability to successfully raise cash through the sale or re-
financing of company-owned aircraft and parts inventory; the
ability of the company to effectively implement its low-fare
business strategy utilizing regional jets and Airbus
aircraft, and to compete effectively as a low-fare carrier,
including passenger response to the company's new service,
and the response of competitors with respect to service
levels and fares in markets served by the company; the
effects of high fuel prices on the company; the ability to
successfully and timely complete the acquisition of, obtain
certification for, and secure financing of, its Airbus
aircraft, and to successfully integrate these aircraft into
its fleet; the ability to implement its assignment to Delta
of leases for 30 of the 328JET aircraft that have been used
in the company's Delta Connection operations and otherwise
to implement its transition out of the Delta Connection
program; the expectation that the company will remain
obligated under the leases for 328JET aircraft to be
assigned to Delta, and would be obligated to fulfill these
obligations should Delta default at any time prior to the
expiration of the leases; unexpected costs or procedural
complications arising from the insolvency of Fairchild
Dornier GmbH, the manufacturer and equity owner of the
328JETs; the ability to successfully remarket or otherwise
make satisfactory arrangements for its J-41 aircraft and for
three 328JET aircraft not assigned to Delta; the ability to
successfully hire, train and retain employees in sufficient
numbers to implement the transition; the ability to reach
agreement with AMFA and AFA-CWA on mutually satisfactory
contracts; the ability of government agencies involved in
airport operations to handle the increased number of flights
and passengers at Washington Dulles without interference
with airline operations; and general economic and industry
conditions, any of which may impact the company, its
aircraft manufacturers and its other suppliers in ways that
the company is not currently able to predict. Certain of
these and other risk factors are more fully disclosed under
Risk Factors" and "Management's Discussion and Analysis of
Financial Condition and Results of Operations" in the
Company's Annual Report on Form 10-K for the year ended
December 31, 2003 and in its Quarterly Report on Form 10-Q
for the period ended June 30, 2004. These statements are
made as of October 27, 2004 and FLYi, Inc. undertakes no
obligation to update any such forward-looking information,
including as a result of any new information, future events,
changed expectations or otherwise.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the Registrant has caused this current report to be
signed on its behalf by the undersigned hereunto duly
authorized.
FLYI, INC.
Date: October 27, 2004 By:/S/ David W. Asai
David W. Asai
Vice President and Chief
Accounting Officer