Flair Airlines CEO to retire from low-cost carrier this summer

Flair Airlines chief executive Stephen Jones will be stepping down this summer after nearly four years at the helm of the discount carrier.

The CEO's tenure spanned a turbulent period for the seven-year-old company as the airline expanded its fleet but also hit financial headwinds amid stiff competition.

Flair said Tuesday a recruitment process for a replacement is underway and that chief operating officer Maciej Wilk was named interim CEO until the board selects a successor. Jones is set to retire June 28, he said.

The Edmonton-based airline's 20-plane fleet will "continue operating normally" during the transition, the company said, even as some hurdles from the past 18 months remain.