Transportation
Canada’s Flair Airlines Discusses Balance Sheet Restructure
- Interim CEO seeks ‘a hundred million’ to ease debt burden
- Seized planes, back taxes, lender fraud claims color outlook
A Flair Airlines aircraft at Vancouver International Airport.
Photographer: James MacDonald/BloombergThis article is for subscribers only.
Canada’s Flair Airlines Ltd. is in talks to raise funds that would help ease the debt burden at the budget carrier beset by aircraft repossessions, back taxes and a financial backer accused of fraud.
Interim Chief Executive Officer Maciej Wilk is in discussions with “financial institutions that are not shy of taking a slightly higher-risk investment” to participate in an ongoing recapitalization of the low-cost carrier, he said in a phone interview. New lenders or equity funding would help the airline address its significant debt load, which he wouldn’t quantify.