What a coincendence that just a week after cutting flights at PTIA, Skybus makes some changes at the top:
Skybus Airlines has made an abrupt change in its corporate cockpit, replacing the chief executive who guided the low-cost carrier through its launch and first year.
In a statement from its Columbus headquarters, Skybus says Bill Diffenderffer has resigned to resume a book-writing career and will be succeeded as CEO by Mike Hodge, the company’s chief financial officer for the past year.
Update: The Journal’s Richard Craver talks to an analyst:
“This decision is an indication that the lenders have stepped in to make a major change to the business model because it’s not working,” said Michael Boyd, the president of The Boyd Group Inc., an aviation-consulting company in Evergreen, Colo. “He didn’t just get the urge to pick up the word processor and write a book. If Skybus’ plan struggled to work at $50 a barrel for oil, it certainly wasn’t going to work at $100 a barrel. They have burned through a lot of cash already by choosing to worship its business plan.”
I guess the question is why Skybus lured Diffenderffer away from the word processor in the first place.
Update II: Guarino reviews Skybus.
