Low\u002Dcost carrier Flair Airlines said it was caught up on payments after planes were in a dispute with a creditor. Read on.
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The low-cost airline cancelled several flights over the weekend after four of its leased Boeing 737 planes were seized in Toronto, Edmonton and Waterloo, Ont.Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter. Postmedia Network Inc.
Jones acknowledged the company was in arrears by about $1 million, but said that “wasn’t a big amount,” considering it was equivalent to the value of sales Flair typically makes in a half day.In a statement on March 11, Flair said the aircraft seizure was due to a “commercial dispute” with “a New York-based hedge fund,” which it described as “extreme and unusual.”
Company spokesman Mike Arnot said at the time that a number of Flair flights were cancelled that morning, but the company had three spare aircraft to back fill those flights.
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Flair Airlines says flight schedule back on track after creditor seized planes over the weekendLow\u002Dcost carrier Flair Airlines said it was caught up on payments after planes were in a dispute with a creditor. Read on.
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