Flair Airlines in talks to go public through merger: report

Low-cost carrier Flair Airlines is reportedly in talks to go public through a merger with New Vista Acquisition Corp., a blank check-firm backed by a former Boeing Co. CEO, claims a report from Bloomberg.

Citing unnamed sources close to the matter, the report claims that New Vista may seek to raise additional financing to support the deal.

The acquisition company is led by Dennis Muilenburg, Boeing’s CEO from 2015 to 2019.

Nothing about this has been confirmed as both New Vista and Flair have declined to comment.

As per Canadian Transportation Agency (CTA) regulations, foreign investors are not allowed to control airlines in Canada.

Earlier this year, Edmonton, AB-based Flair, which received funding from Miami-based 777 Partners LLC during the pandemic, was forced to restructure to lessen the influence of the U.S.-based investment firm.

Canada’s transport agency ruled in June that Flair, after months of speculation, does in fact meet domestic ownership requirements, allowing it to continue operating flights.

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