This is posted on their website:
Direct Air finds it necessary to suspend flight operation from Tuesday, March 13, 2012 until May 15, 2012. This decision was made to address operational matters. We are currently evaluating strategic alternatives for Direct Air.
Direct Air is committed to our passengers, employees, and the communities we serve.
Passengers holding reservations for Direct Air flights departing between Tuesday, March 13, 2012 and Tuesday, May 15, 2012 are directed to contact their credit card company to arrange for a refund.
Please check back here for more details.
Very Truly Yours,
Direct Air