777 Partners acquires minority stake in ULCC Flair Airlines
Flair Airlines, a Kelowna, British Columbia-based ultra-low-cost carrier (ULCC) airline, has secured an undisclosed investment from 777 Partners, a U.S. private equity firm. The investment gave 777 a 25 percent equity stake in the company. Originally founded as a charter airline in 2005, Flair transitioned into a full commercial scheduled service two years ago. CEO Jim Scott said the partnership with 777 will ensure that Flair is able to compete and continue on "our strong trajectory for domestic growth while meeting the clear demand for ULCC airline options in Canada." The airline currently operates 188 flights per week, coast to coast.
2 April 2019•3 mins read
