The Canadian ultra-low-cost carrier Flair Airlines has been forced to cancel a wave of flights after four of its Boeing 737MAX aircraft were suddenly seized on Saturday in a leasing dispute.
The four aircraft have been impounded at three Canadian airports in Toronto, Edmonton and Waterloo, Ontario, leading to a slew of flight cancellations that have impacted the airline’s operations.
In a statement, the carrier hit out at a New York-based hedge for its “extreme and unusual” decision to repossess the aircraft without warning.
A spokesperson for the carrier blasted: “Flair Airlines is aware of extreme and unusual actions taken by a New York-based hedge fund and lessor of certain Flair Airlines aircraft.”
“The airline is aggrieved by this unprecedented action. Flair Airlines will continue to engage in a consensual mediation with the lessor to remedy the situation.”
Flair rapidly built up its fleet of Boeing 737MAX jets during the pandemic in what it described at the time as its plans to “accelerate its disruptive mission to make travel affordable for all Canadians.”
Sources claim the aircraft were seized in a dispute over a missed lease payment of around $1 million. The airline has since said that payment has been initiated and that Flair will “continue to engage in a consensual mediation with the lessor to remedy the situation.”
