sec document
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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SCHEDULE 13G
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b) (c) AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(b)
(Amendment No. )1
FLYi, Inc.
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(Name of Issuer)
COMMON STOCK, PAR VALUE $0.02 PER SHARE
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(Title of Class of Securities)
34407T104
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(CUSIP Number)
January 11, 2005
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(Date of Event Which Requires Filing of this Statement)
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Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
/ / Rule 13d-1(b)
/ x/ Rule 13d-1(c)
/ / Rule 13d-1(d)
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1 The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect to the subject class
of securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall
not be deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
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CUSIP No. 34407T104 13G Page 2 of 11 Pages
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
NEWCASTLE PARTNERS, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
TEXAS
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NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY 2,267,900 shares
OWNED BY
EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
6 SHARED VOTING POWER
0 shares
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7 SOLE DISPOSITIVE POWER
2,267,900 shares
-----------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
0 shares
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
2,267,900 shares
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* / /
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.0%
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12 TYPE OF REPORTING PERSON*
PN
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* SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No. 34407T104 13G Page 3 of 11 Pages
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
NEWCASTLE CAPITAL MANAGEMENT, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
TEXAS
--------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY 2,267,900 shares
OWNED BY
EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
6 SHARED VOTING POWER
0 shares
-----------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
2,267,900 shares
-----------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
0 shares
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
2,267,900 shares
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* / /
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.0%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
================================================================================
* SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No. 34407T104 13G Page 4 of 11 Pages
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
NEWCASTLE CAPITAL GROUP, L.L.C.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
TEXAS
--------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY 2,267,900 shares
OWNED BY
EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
6 SHARED VOTING POWER
0 shares
-----------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
2,267,900 shares
-----------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
0 shares
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
2,267,900 shares
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* / /
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.0%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
OO
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* SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No. 34407T104 13G Page 5 of 11 Pages
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
MARK E. SCHWARZ
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
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NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY 2,267,900 shares
OWNED BY
EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
6 SHARED VOTING POWER
0 shares
-----------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
2,267,900 shares
-----------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
0 shares
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
2,267,900 shares
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* / /
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.0%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
================================================================================
* SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No. 34407T104 13G Page 6 of 11 Pages
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Item 1(a). Name of Issuer:
FLYi, Inc.
Item 1(b). Address of Issuer's Principal Executive Offices:
45200 Business Court
Dulles, Virginia 20166
Item 2(a). Name of Person Filing:
This statement is jointly filed by Newcastle Partners, L.P., a Texas
limited partnership ("NP"), Newcastle Capital Management, L.P., a
Texas limited partnership ("NCM"), Newcastle Capital Group, L.L.C.,
a Texas limited liability company ("NCG"), and Mark E. Schwarz
(together with NP, NCM and NCG, the "Reporting Persons"). Because
Mark E. Schwarz is the managing member of NCG, which is the general
partner of NCM (Mark E. Schwarz, NCG and NCM are hereinafter
referred to as the "Controlling Persons"), which in turn is the
general partner of NP, the Controlling Persons may be deemed,
pursuant to Rule 13d-3 of the Securities Exchange Act of 1934, as
amended (the "Act"), to be the beneficial owners of all shares of
Common Stock held by NP. The Reporting Persons are filing this joint
statement, as they may be considered a "group" under Section
13(d)(3) of the Act. However, neither the fact of this filing nor
anything contained herein shall be deemed to be an admission by the
Reporting Persons that such a group exists.
Item 2(b). Address of Principal Business Office or, if None, Residence:
300 Crescent Court
Suite 1110
Dallas, Texas 75201
Item 2(c). Citizenship:
NP, NCM and NCG are organized under the laws of the State of Texas.
Mark E. Schwarz is a citizen of the United States of America.
Item 2(d). Title of Class of Securities:
Common Stock, par value $0.02 per share
Item 2(e). CUSIP Number:
34407T104
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CUSIP No. 34407T104 13G Page 7 of 11 Pages
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Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or
(c), Check Whether the Person Filing is a:
/X/ Not Applicable
(a) / / Broker or dealer registered under Section 15 of the
Exchange Act.
(b) / / Bank as defined in Section 3(a)(6) of the Exchange Act.
(c) / / Insurance company as defined in Section 3(a)(19) of the
Exchange Act.
(d) / / Investment company registered under Section 8 of the
Investment Company Act.
(e) / / An investment adviser in accordance with Rule
13d-1(b)(1)(ii)(E).
(f) / / An employee benefit plan or endowment fund in accordance
with Rule 13d-1(b)(1)(ii)(F).
(g) / / A parent holding company or control person in accordance
with Rule 13d-1(b)(1)(ii)(G).
(h) / / A savings association as defined in Section 3(b) of the
Federal Deposit Insurance Act.
(i) / / A church plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the
Investment Company Act.
(j) / / Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
Item 4. Ownership
(a) Amount beneficially owned:
2,267,900 shares*
(b) Percent of class:
5.0% (based on 45,339,810 shares of Common Stock outstanding as
of November 5, 2004 as reported in the Issuer's Quarterly
Report on Form 10-Q filed with the Securities and Exchange
Commission on November 9, 2004)
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote
2,267,900 shares*
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CUSIP No. 34407T104 13G Page 8 of 11 Pages
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(ii) Shared power to vote or to direct the vote
0 shares
(iii) Sole power to dispose or to direct the disposition of
2,267,900 shares*
(iv) Shared power to dispose or to direct the disposition of
0 shares
*Represents shares held directly by NP. By virtue of their relationship with NP,
the Controlling Persons may each be deemed to beneficially own the 2,267,900
shares of Common Stock of the Issuer held by NP.
Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of the
date hereof the reporting person has ceased to be the beneficial
owner of more than five percent of the class of securities, check
the following [ ].
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
Not Applicable
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on by the Parent Holding Company or
Control Person.
Not Applicable
Item 8. Identification and Classification of Members of the Group.
See Exhibit A.
Item 9. Notice of Dissolution of Group.
Not Applicable
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CUSIP No. 34407T104 13G Page 9 of 11 Pages
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Item 10. Certifications.
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are
not held for the purpose of or with the effect of changing or
influencing the control of the issuer of the securities and were not
acquired and are not held in connection with or as a participant in
any transaction having that purpose or effect.
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CUSIP No. 34407T104 13G Page 10 of 11 Pages
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief,
I certify that the information set forth in this statement is true, complete and
correct.
Dated: January 21, 2005 NEWCASTLE PARTNERS, L.P.
By: Newcastle Capital Management, L.P.,
its general partner
By: Newcastle Capital Group, L.L.C.,
its general partner
By: /s/ Mark E. Schwarz
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Mark E. Schwarz, Managing Member
NEWCASTLE CAPITAL MANAGEMENT, L.P.
By: Newcastle Capital Group, L.L.C.,
its general partner
By: /s/ Mark E. Schwarz
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Mark E. Schwarz, Managing Member
NEWCASTLE CAPITAL GROUP, L.L.C.
By: /s/ Mark E. Schwarz
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Mark E. Schwarz, Managing Member
/s/ Mark E. Schwarz
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MARK E. SCHWARZ
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CUSIP No. 34407T104 13G Page 11 of 11 Pages
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EXHIBIT A
JOINT FILING AGREEMENT
The undersigned hereby agree that the Statement on Schedule 13G
dated January 21, 2005 with respect to the shares of Common Stock of FLYi, Inc.
and any further amendments thereto executed by each and any of the undersigned
shall be filed on behalf of each of the undersigned pursuant to and in
accordance with the provisions of Rule 13d-1(k)(1) under the Securities Exchange
Act of 1934, as amended.
Dated: January 21, 2005 NEWCASTLE PARTNERS, L.P.
By: Newcastle Capital Management, L.P.,
its general partner
By: Newcastle Capital Group, L.L.C.,
its general partner
By: /s/ Mark E. Schwarz
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Mark E. Schwarz, Managing Member
NEWCASTLE CAPITAL MANAGEMENT, L.P.
By: Newcastle Capital Group, L.L.C.,
its general partner
By: /s/ Mark E. Schwarz
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Mark E. Schwarz, Managing Member
NEWCASTLE CAPITAL GROUP, L.L.C.
By: /s/ Mark E. Schwarz
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Mark E. Schwarz, Managing Member
/s/ Mark E. Schwarz
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MARK E. SCHWARZ