He departs after a period in which the carrier expanded rapidly from a few aircraft to about 20 Boeing 737 Max passenger jets
Flair Airlines CEO Stephen Jones, here in one of the company's Boeing 737 MAX 8 aircraft on April 17, has announced his retirement and will step down from his role.Mr. Jones, 63, departs the Edmonton-based discount airline on June 28 after four years – a period in which the carrier expanded rapidly from a few aircraft to about 20 Boeing 737 Max passenger jets.He said he will spend time in Vancouver and his native New Zealand, pursuing his love of ocean sailing..
As an upstart that charged low airfares in a concentrated market, Flair faced financial challenges. The Globe and Mail reported in January theleasing companies seized four Flair planes It was the involvement of Miami-based 777 Partners that drew the attention of the regulator, the Canadian Transportation Agency, in 2021. The CTA found 777 Partners’ control, investment and board seats allowed it to call the shots, in violation of Canadian majority ownership laws. Facing the possible loss of its operating licence, Flair loosened 777 Partners’ grip and received approval from the CTA to carry on.
Mr. Jones, who was hired at a time 777 Partners had seats on board, declined on Tuesday to name the investor that has replaced 777 Partners. New York’s Advantage Capital Holdings LLC is a creditor of 777 Partners, and its loans were reportedly secured by 777′s assets.
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