Based out of a key US international airport with a large fleet and new branding, Independence Air took flight in June 2004. Less than a year later, financial cracks began to appear with missed lease payments and some of its fleet sold or repossessed. In November 2005, Independence Air’s parent company filed for bankruptcy, eventually forcing the carrier to shut down in January 2006. What caused a company that had been around for almost 15 years to close its doors so suddenly?
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