In a development that will force Washington area residents to trek out to BWI for our cheap flights, we bid farewell this week to budget carrier Independence Air.

For an airline that started as an underdog in a tough industry, Independence’s problems included leasing small regional jets that didn’t turn as much of a profit as the larger aircraft of Jet Blue or Southwest, rising fuel costs, and a unique business model that many in the industry deemed unsustainable.

According to an article in USA Today, the airline currently has 2,700 employees and operates about 200 daily flights to 37 destinations. Their most popular routes were to Boston, Chicago’s O’Hare, Orlando, Jacksonville, and Tampa. We’d all better start finding new thrifty ways to get to Beantown and Disneyworld.

For those who hold reservations or credits with Independence, FAQ’s can be answered here. Airliners.net also has an informative thread with those from the industry talking about slots opening up at specific airports and where the industry and those at the airline are headed next.

Of course, if anyone out there is a millionaire with some cash to burn and an itch to own an airline, January 7 is the deadline for Independence to find a buyer. Anyone? Please?

Farewell, Independence Air. It was a good, if brief time we had.