02:51:38 EDT Sat 27 Apr 2024
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Air Canada
Symbol AC
Shares Issued 358,469,286
Close 2024-03-05 C$ 17.98
Market Cap C$ 6,445,277,762
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Globe/CP say Air Canada hears Flair wants Lynx planes

2024-03-06 09:12 ET - In the News

Also In the News (C-ONEX) Onex Corp

The Globe and Mail reports in its Wednesday edition that Flair Airlines chief executive officer Stephen Jones says he still hopes to add several Lynx Air planes to his fleet, even after their tentative merger fell through when Lynx shut down last month. A Canadian Press dispatch to The Globe quotes Mr. Jones saying that the Boeing 737 Max 8s are the same model that comprise the bulk of his 20-plane fleet and would bolster the discount airline's stalled growth plans. "We would love to get access to those aircraft -- not all of them, but we'd love to get access to some at least," he said on a call with Canadian Press. "We're very interested in an open process." In an Edmonton court filing, Flair sought to have Lynx include it among those allowed to bid on the insolvent airline's assets. The court-supervised asset sale currently before the judge could lead to a "highly anti-competitive result" if large airlines are allowed to bid while Flair is locked out, according to an affidavit from Mr. Jones. Any process that gives Lynx the final say -- which selects the "pre-qualified bidders" -- over who can submit offers "unfairly prejudice" the sole remaining budget carrier in the Canadian market, the document argues.

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