Flair to face critics over foreign ownership allegations as it fights to keep flying in Canada – via financialpost FlairAirlines Business Transportation
, at least 51 per cent of a domestic airline’s voting shares must be Canadian, and no more than 25 per cent of voting interests can be held by a single non-Canadian company or person., which has a 25 per cent stake in Flair, but, importantly, Flair also leases its planes from 777 Partners, and the firm controls Flair’s board of directors., the CTA said that while the majority of shareholder voting rights are owned by Canadians, there is “no evidence” that Flair is controlled by Canadians.
Flair — which has until May 3 to answer the agency’s preliminary findings or potentially have its licence suspended or cancelled — has asked for an 18-month exemption to address the issue. On April 20, two aviation industry groups representing Canada’s major airlines, as well as smaller and freight carriers and industry suppliers, issued a joint statement calling on the federal government to reject Flair’s request for a temporary exemption from the Canadian ownership requirement.
, the National Airlines Council of Canada and the Air Transport Association of Canada argued that allowing the extension would set a “troubling precedent” and would allow Flair to continue operating outside the bounds of existing Canadian law.
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