02:07:50 EDT Sat 27 Apr 2024
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or Name
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CA



Air Canada
Symbol AC
Shares Issued 358,471,268
Close 2024-03-21 C$ 18.93
Market Cap C$ 6,785,861,103
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Globe says Air Canada sees Flair financial woes mount

2024-03-22 07:49 ET - In the News

Also In the News (C-ONEX) Onex Corp

The Globe and Mail reports in its Friday, March 22, edition that Flair Airlines has cut more than 600 flights from its spring schedule. The Globe's triple bylined item reports that Flair is making cost-saving reductions to its domestic network while also adding holiday routes following the failure of low-cost rival Lynx Air. Flair has reduced the number of flights leaving from its main hubs in Toronto, Ottawa, Calgary and Edmonton for the months of March, April and May. However, the airline has also increased the number of flights to popular vacation destinations such as Florida, Las Vegas and Mexico. Flair Airlines is based in Edmonton and is known for providing affordable flights without any frills. On Feb. 26, Flair rival Lynx Air stopped operating flights due to its inability to pay for daily operations. As a result, the nine-plane airline has sought protection from creditors and is likely to be either wound up or sold under the supervision of the Companies' Creditors Arrangement Act. These recent developments in the discount airline industry come ahead of a busy summer travel season for Canada's airlines, which have experienced robust demand and higher airfares after the lifting of COVID-19-related restrictions.

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