02:12:32 EDT Sat 27 Apr 2024
Enter Symbol
or Name
USA
CA



Air Canada
Symbol AC
Shares Issued 358,469,286
Close 2024-02-13 C$ 18.39
Market Cap C$ 6,592,250,170
Recent Sedar Documents

Globe says Air Canada told Flair lessors head to court

2024-02-14 08:11 ET - In the News

Also In the News (C-ONEX) Onex Corp

The Globe and Mail reports in its Wednesday edition that the leasing companies that seized four Flair Airlines planes over missed payments a year ago are seeking to have Flair's lawsuit against them declared "frivolous" and have asked a judge to strike out most of the claims. The Globe's Eric Atkins writes that Edmonton-based Flair sued Airborne Capital of Dublin and four other lessors for $50-million in March, days after the Boeing 737s were repossessed after the discount airline fell behind on rent payments. Flair boss Stephen Jones said at the time the airline had missed payments worth $1.3-million (U.S.) but was trying to catch up when Airborne agents boarded the aircraft and took control as passengers were preparing to depart airports in Toronto, Edmonton and Waterloo, Ont. Flair sued the lessors three days later, accusing them of acting "unlawfully" and without warning because they found another company willing to buy or lease the planes for more. Airborne said Flair had missed payments worth millions of dollars over five months and the seizures were a last resort. Airborne and the other lessors have asked an Ontario judge to strike out most of Flair's claims, including breach of contract and wrongful seizure.

© 2024 Canjex Publishing Ltd. All rights reserved.