Flair Airlines accuses financial services firm of withholding $25 million

Flair Airlines is accusing a financial services firm of withholding about $25 million in funds from the company.

The budget airline says in a press release that Peoples Trust has "played a crucial role in facilitating the regular transfer of funds to Flair Airlines" for over a year. 

But it says that in February, the financial services firm ceased regular transfers to Flair. 

Flair CEO Stephen Jones says in the release that the airline has tried to resolve the issue amicably, but it plans to pursue a resolution through legal channels.