CTA launches formal probe into Flair

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RockSalty
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Re: CTA launches formal probe into Flair

Post by RockSalty »

flying4dollars wrote: Thu Jun 02, 2022 9:45 am I can understand being upset if you're an upper manager at another airline. But if you're a pilot, you should understand this is good for the industry. Competition is healthy, it is stimulating the market and it is creating jobs. In fact, it was the only airline creating jobs while everyone else was laid off.
Exactly. The last thing any of us needs is for a player like Flair to disappear and suddenly leave however many experienced pilots on the street and kill movement at other carriers while they get picked up. Hopefully with their planned expansion we see pay come up across the board!
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Soyer
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Re: CTA launches formal probe into Flair

Post by Soyer »

This is where the majority of the posters fail - they don't understand the CTA process. The control in fact requirements are not a set of prescriptive regulations such as the CARs but rather a far more nebulous set of requirements that are subjective. The CTA then has an ongoing responsibility to oversee and complete occasional audits to observe and make recommendations. Over time any organizations grows and involves and, in the case of Flair and others debt and other areas may change. If the CTA ha concerns they can audit, investigate and, if required force change. SO the process worked.

Good luck with lawsuits as there is no basis due to the above. Air Canada was over 90% foreign owned after their bankruptcy, as an example, as was permitted time to adjust.
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rudder
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Re: CTA launches formal probe into Flair

Post by rudder »

Soyer wrote: Thu Jun 02, 2022 12:13 pm Good luck with lawsuits as there is no basis due to the above. Air Canada was over 90% foreign owned after their bankruptcy, as an example, as was permitted time to adjust.
Not sure that is accurate.

ACE Holdings owned 100% of AC. It was a privately held wholly-owned subsidiary (until the AC IPO).

Unsecured creditors owned 87% of ACE (including a 10% holding by the affected unions). Cerberus Capital owned 9%.

It would be complicated to determine exactly where the total ACE holdings ended up (foreign vs domestic) but I do not recall this being an issue at the time.
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BTD
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Re: CTA launches formal probe into Flair

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Re: CTA launches formal probe into Flair

Post by RRJetPilot »

https://financialpost.com/transportatio ... the-market

Good article.

Quotes:

One former senior employee at Flair, who did not want to be identified, said the airline frequently struggled to pay its bills and depended on cash from 777 to stay afloat.

“They made Flair beg for every penny that they got, but almost every month they had to shell out money to Flair,” the employee said. “Every single month just to make ends meet.”
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flying4dollars
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Re: CTA launches formal probe into Flair

Post by flying4dollars »

Yeah, 2018 under the former hot mess of a leadership team Flair had trying to run a ULCC with 737-400's.

That was then, this is now and it's a very different Flair than 2018-2020
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