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or Name
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CA



Air Canada
Symbol AC
Shares Issued 358,469,286
Close 2024-01-10 C$ 19.62
Market Cap C$ 7,033,167,391
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Globe/wire say Air Canada sees Flair jet lessors sued

2024-01-11 07:08 ET - In the News

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The Globe and Mail reports in its Thursday edition that three aircraft lessors have sued a U.S.-based minority investor in Flair Airlines claiming $30-million after the budget carrier allegedly missed lease payments for four jets, their filing in a London court showed (all figures U.S.). A Reuters dispatch to The Globe says that on Dec. 12, Ireland-based Corvus Lights Aviation, MAM Aircraft Leasing 4 and Columba Lights Aviation filed the suit, which was made public later, against 777 Partners and its sister company 600 Partners. 777 Partners provided guarantees for each of the four leases involving a Boeing 737-800 and three 737 Max 8 jets, while 600 Partners had given guarantees for three leases, the lawsuit said. The $30-million claim is the latest round in a dispute over the four jets that were leased to privately owned Flair, but were repossessed in March last year by Airborne Capital, which managed the jets on behalf of the three lessors. "Despite being repeatedly notified of their financial obligations, 777 Partners continued to ignore calls to settle outstanding payments of almost $30-million," the three lessors said in a statement. The airline was not named as a defendant in the case filed by the three lessors.

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