03-14-2023, 03:19 PM
(03-11-2023, 04:41 PM)danbrotherston Wrote: This does seem strange, I was under the impression that the lessor was the majority shareholder (albeit ostensibly not the controlling shareholder) of the airline. Seems self-defeating to cause major financial losses for the airline. Honestly this whole airline is seeming rather sketchy of late.
It's all super complex/confusing financial engineering. But my understanding is that the foreign company (777 Partners) is not the majority shareholder and no longer has a majority of board seats. It was leasing planes to Flair, but it wasn't the only one. These planes were repossessed by Airborne Capital which is (as far as I can tell) a different company. There's a third company mentioned in articles Bank of China Aviation.
There's also been a report that 777 Partners sold 5 new planes that were pained in Flair livery to a leasing company in December. Which would seem to indicate that they were suppose to go to Flair but ultimately didn't.
This all seems sketchy, but it might just be the reality of budget airlines. But the reality is definitely that Flair is on very shaky financial foundations and the airport has to be worried that all of this new traffic could disappear in an instant.