Skybus Halts Operations, Declares Bankruptcy

Colombus, Ohio-based Skybus last week became the fourth U.S. airline to shut down or announce plans to do so this year, blaming high fuel prices and a slowing economic environment.

"We deeply regret the impact this decision will have on our employees and their families, customers, vendors, suppliers, airport officials and others in the cities in which we have operated," the company said on its Web site. "Our financial condition is such that our Board of Directors felt it had no choice but to cease operations."

Stranded customers were advised to contact their credit card companies for refunds and both JetBlue Airways and US Airways offered special rates of $50 for standby fares to Skybus passengers. Skybus served 15 cities across the United States with 74 daily flights. The carrier joins Aloha Airlines, ATA Airlines and charter airline Champion Air in shutting down operations due to the economic climate this year.