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FLYi Wants Four-Month Exclusivity Extension

Law360 (January 4, 2007, 12:00 AM EST) -- Bankrupt airline FLYi Inc. has asked a bankruptcy court for an additional four months to win creditor approval of its liquidation plan, hoping to extend exclusive control over the bankruptcy proceedings until a March hearing.

The carrier, which had hoped to liquidate by Dec. 29, will receive an automatic extension until Jan. 23, at which time a bankruptcy judge will rule on the motion.

FLYi has petitioned for the extension on the grounds that the company needs more time to win creditor approval of the airline’s...
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