Flair Airlines has addressed controversy over the federal review threatening its license.
Speaking at a virtual news conference Thursday afternoon, Flair CEO Stephen Jones said there was “zero chance that we’ll be losing our license.”
“We’re responding to the concerns that the CTA has made,” Jones said. “We’ve dealt with most of them already. So customers have no concerns.”
Jones said 58 per cent of shares in the company are Canadian-owned, in compliance with federal regulations.
However, the airline has asked for an 18-month exemption to the rules in order to pay back Miami-based company, 777 Partners, which gave the airline money during the pandemic.
“We owe some debt to a shareholder who enabled us to survive COVID,” said Jones. “All we’re really asking for is time to refinance that debt.”
Earlier on Thursday, the Region of Waterloo opened a new building at its airport – one part of a $44 million expansion project. Regional Chair Karen Redman thanked Flair for helping to drive growth at the airport at the event.
Addressing the federal review, Redman said while it is a concern, Flair is not the only airline that flies out of the airport.
“I’m confident that this investment in our airport is a good investment and will pay off in the immediate and long-term,” she said.
