Flair Airlines says lender provides new funding and acquires stake from major investor 777 Partners

Flair Airlines Captain Ken Symonds inspects the outside of one of the company's Boeing 737 MAX 8 aircraft while parked at a gate at Vancouver International Airport, in Richmond, B.C., on April 17.In response to a query from The Globe and Mail, Flair said a company related to its largest lender has acquired a portion of 777 Partners’ shares and will provide new debt funding. Flair did not provide details, including which company acquired the shares and the terms.

Miami-based 777 Partners previously held 25 per cent of privately owned Flair, the maximum allowed by a foreign entity, and was a major provider of financing and leased aircraft. Bonza said in a statement the shutdown is temporary. “We apologize to our customers who are impacted by this and we’re working as quickly as possible to determine a way forward that ensures there is ongoing competition in the Australian domestic aviation market.”

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