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):
                     February 23, 2005

                         FLYi, Inc.
     (Exact Name of Registrant as Specified in Charter)

      Delaware               0-21976               13-3621051

  State or Other         Commission File          IRS Employer
 Jurisdiction of              Number           Identification 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 7.01 Regulation FD Disclosure

On  February 22, 2005, FLYi, Inc.  (NASDAQ/NM: FLYI), parent
of low-fare airline Independence Air, issued a press release
stating  that on February 18, 2005 it successfully completed
a consensual restructuring of its financial obligations, and
held a conference call to further explain the restructuring.
The  Company  has received numerous requests for  additional
information  relating  to  the  topics  discussed   on   the
conference  call.   In  order  to  provide  answers  to  all
interested parties, the Company will post a listing  of  the
most   frequently  asked  questions  ("FAQ's")  and  related
answers  on  its  web  site www.FLYi.com  in  the  "Investor
Information"  section found under "Company."  A re-broadcast
of  the conference call and the listing of FAQ's will remain
available on the Company's web site for 30 days.


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:  February 23, 2005           By:  /S/ David W. Asai
                                   David W. Asai
                                   Vice President, Controller
                                   and Chief Accounting Officer